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Associate - Corporate Finance Operations
Ally
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Ally Requisition #
18-5131
Job Description
Position Description
The Operations Associate has 5 plus years of Operational work experience servicing daily borrowing requirements and closing new deals for middle market leveraged deal structures including Agented or Non Agented deal types. Individuals at this level work with more senior team members in the operational capacity of a Lead Servicing Agent to enable smooth deal closing, servicing requirements and administration of more complex Deal structures.
From an operational perspective the Associate is capable of reviewing Legal Agreements to understand pricing, servicing requirements and can perform all operational functions. The individual has a good knowledge of Operational Procedure, SOX and Risk frameworks and controls. Personnel at this level can manage their workload and are capable of working with minimal supervision. The Operations Associate should have a strong understanding and experience working on the Loan IQ system or other Commercial Lending Loan Syndication systems. The Associate should also be capable of managing special assignments/projects.
Job Responsibilities
The Operations Associate is fluid at handling more complex Deals as Lead Servicing Agent with numerous Co-Lenders, understands Deal format, more complex pricing structures and capable of working with Legal Agreements in the capacity of deal set-up and modification. Responsibilities include the ability to:
• Process the client Borrowing Base Certificate (BBC), Advance Request, Settlements and Libor loan activity within established processing time frames including the ability to identify and communicate red flags, potential operational risk issues or handling concerns.
• Maintain organized "Deal information that includes key documents and required handling procedures to enable a cross trained team environment.
• Possess a working knowledge of PIK, SKIM, Non Preforming deal dynamics, Letters of Credit, First/Last Out Uni-tranche Deal arrangements and more complex Deal scenarios as a lead Agent.
• Review the Legal Agreement to obtain pricing/handling requirements to perform Deal Set-up and maintenance activities to ensure the accurate recognition of client income, fee activities real time, monthly and deferred.
• Process contractual updates to existing loan agreements as identified by the portfolio team utilizing the Account Maintenance function including changes to Risk Ratings and other related activities.
• Perform operational handling requirement "review and sign-off" sessions to ensure the accurate handling of new accounts, pricing/handling changes and account restructuring activities.
• Actively prepare for and participate in the month/quarter end closing process to ensure processing activities are up to date and remain on the defined team processing schedule. This includes preparation and reconciliation of assigned accounts and benchmark reporting.
• Participate in the review of Operations Policies and Procedures including the appropriate user training manuals for internal and external systems utilized by the operations function. This process will include scheduled internal reviews of key procedures with operations teams to ensure overall audit and SOX compliance.
Qualifications
• 5 Plus years of Operational experience in Servicing and Set-up aspects of Deal relationships in the capacity of both the Lead Agent and Non Agent role
• BA or BS in Accounting or Finance preferred
• Excellent communication, verbal, written, interpersonal and organization skills
• Highly analytical, detail oriented with problem solving capability
• Ability to work independently with demonstrated strong time management skills
• High level of accountability and the ability to effectively prioritize tasks
• Highly motivated, self-starter
• Technical: Computer literate, including: Word, Excel, Power Point
• Fluid Servicing and Set-up knowledge on the Loan IQ system with hands on processing knowledge/experience preferred
Ally Overview
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise with the opportunity, experience and people to redefine the industry. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking.
Business Unit/Global Function Description
Corporate Finance (CF) provides highly customized loans to private-equity backed middle market companies based in North America. Our principal products are secured, floating rate revolving lines of credit and term loans that generally have maturities of five to seven years, and are used by clients to facilitate acquisitions, fund working capital, growth/capital expenditures, and restructurings. CF focuses on manufacturers, distributors/wholesalers, and service businesses but also have specialty lending teams that cover healthcare and technology businesses. We are headquartered in New York and have offices in major cities across the U.S.
Total Rewards Information
Ally's compensation program offers market-competitive base pay and bonus pay potential based on achieving personal and company goals. Plus, we have a flexible paid-time-off program with an emphasis on work-life balance. Ally offers a variety of benefits to protect your health and well-being, provide financial security and balance your work/life needs including:
Industry-leading 401K Retirement Savings Plan including Matching and Company Contributions
Comprehensive wellness program and wellness rewards to help you reach your personal health goals
Flexible health insurance options including dental and vision
Pre-tax health savings, dependent care and commuter transit accounts
Life and disability benefits
Other work/life benefits including tuition reimbursement, adoption assistance, weight watchers and employee discount programs.
Ally extends equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's age, race, color, sex, religion, national origin, disability, veteran status, sexual orientation, or any other reason prohibited by law.
Ally is an Equal Opportunity Employer
We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.