Syndicated Loan Administrator

Comerica Bank
life insurance, parental leave, paid time off, sick time, 401(k)
United States, Michigan, Detroit
Jan 08, 2025
Syndicated Loan Administrator The Syndicated Loan Administrator (SLA) is responsible for the day-to-day activity of syndicated loans where Comerica is the administrative agent. They will have a dedicated portfolio of syndicated deals and work directly with external customers, bank participants and internal partners such as Loan Operations (LTS) and loan groups. Position Responsibilities: Oversee the daily administration of a syndicated loan where Comerica is the admin agent including advance requests, paydowns and rate options with borrower. Work directly with the Borrower and RM/PM to handle any questions or problems which arise such as break-fundings, over-formula issues, multi-currency calculations, swaps etc. Interface with, RM/PM, borrowers, attorneys, LTS (servicing, boarding, loan closers) and participant banks to successfully close and fund transactions following the parameters of the credit agreement. Create and maintain spreadsheet files for each borrower to confirm accuracy of interest, balance, commitments and fee accruals to AFS. Ensure unused fees are computed correctly by monitoring loan sweep and Letter of Credit activity. Work with foreign currency loans, foreign wires, and the foreign exchange area. On a monthly and quarterly basis, interface with borrowers, RM/PM and participant banks to ensure all principal, interest, and fees have been correctly calculated and loaded on the AFS system. * Prepare billings for borrowers and notifications for participants outlining payments of principal, interest and fees for the period. Track and report fee collections monthly for internal reporting purposes. Address problem inquiries from loan groups, RM/PM and participant banks, and borrowers on a timely basis. Work in a team environment with deadline oriented tasks. Position Qualifications: High school diploma or the equivalent (GED) 4 years of experience in banking/financial services 2 years of experience in utilizing Microsoft Office Products including Word, Excel and Outlook Preferred Qualifications: Some College Courses focusing on Accounting/Finance/Economics 2 years of experience in commercial loan processing Work Best Category: Category B - 3-4 days in office on designated days/1-2 days remote Hours: 8:00am - 5:00pm Monday - Friday Salary: To Be Determined Based on Individual Experience About Comerica We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure. Upon offer, Comerica conducts a comprehensive background and fingerprint check. NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act. Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.