The Operations Associate position 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 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.
The Associate is comfortable in reviewing Legal Agreements to understand pricing, Deal Set-up, Servicing requirements and can perform all operational functions. The individual has a good knowledge of Operational Procedure, SOX Risk frameworks, Cash Reconciliation 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.
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, closing day activities and modification updates. Responsibilities include the ability to:
Create the initial format and process a client Borrowing Base Certificate (BBC), handle the initial Advance and subsequent requests, 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 monthly / deferred and set-up of wire transfer details with OFAC scan.
Process all contractual update types to existing loan agreements as identified by the portfolio team utilizing the Account Maintenance function including changes to Risk Ratings, wire transfer details 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.
Knowledge of Standby Letter of Credit servicing activities, daily Cash Reconciliation, OFAC Screening and Wire Transfer detail set-up.
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.
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 Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers. Ally has an award-winning online bank (member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing digital wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.
Business Unit/Enterprise Function
Ally Corporate Finance (CF) provides customized secured commercial loans to private-equity and/or venture capital backed companies based in North America. Our loans 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 has 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 pay-for-performance incentives (bonuses) based on achieving personal and company goals. Plus, we have a flexible paid-time-off program including time off for volunteer opportunities. Ally's Total Rewards Program is designed to enrich your life at work - and outside of it and includes:
Industry-leading 401K retirement savings plan with matching and company contributions
Wellness program encouraging healthy living with financial rewards
Flexible health insurance options including dental and vision
Pre-tax Health Savings Account with generous employer contributions
Pre-tax commuter benefits
Other work-life integration benefits including parental and caregiver leave, adoption assistance, backup child and adult/elder day care program, child care discounts, tuition reimbursement, LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs
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.