Loan Servicing Specialist – London recruitment

Wells Fargo Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs and the Internet (wellsfargo.com) across North America and internationally.

We’re headquartered in San Francisco, but we’re decentralized so every local Wells Fargo store is a headquarters for satisfying all our customers’ financial needs and helping them succeed financially.

One in three households in America does business with Wells Fargo. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across our 80+ businesses.

The London branch of Wells Fargo, based in Fenchurch Street, has approximately 300 Team Members.

Our vision: “We want to satisfy all our customers’ financial needs and help them succeed financially.”

Responsibilities
The primary areas of responsibility for the role are as follows:

Daily
LOAN SET UP AND MAINTENANCE
• Review CLIC forms and set up accounts completely and accurately in loan system.
• Review loan amendments, modifications, approvals, and prepares appropriate system adjustments.
• Set up and maintain LIBORs in loan system making sure that proper rates and renewals are processed within required time lines.
• Review and update ticklers as necessary in loan system.
• Review and prepare incoming cash transfers and deposits for proper application in loan systems and general ledger and prepare summary report of activity.
• Preparation of loan, interest fee settlement. Ensure outgoing wires and settlements are in the system prior to Treasury’s cut off time.
• Calculate interest and fee adjustments.
• Responsible for timely and accurate reconciliations for all interest and fee accruals.
• Responsible for clearing interest and fee accruals in loan system.
• Follow up with lead lenders regarding interest and fee payments.
• Post activity in the loan system.
• Process SWAPS and Foreign Currency transactions.
• Prepare client payoff calculations and ensure that all outstanding
   monies in the General Ledger are accounted for.

COORDINATION AND SUPPORT
• Provide loan servicing including fields calls and requests for
   information from/to the business units and the clients. 
• Follow up with Account Management Teams to ensure
  fees and loan structures reported on the loan system tickler report are
   properly handled.
• Provide support for members of various divisions.

GENERAL LEDGER MONITORING
• Coordinate with Staff Accountants in General Accounting and Loan   Accountants in Operations for daily subsidiary ledger reconciliations.
• Follow up with Staff Accountants for open items in suspense.

OTHER
• Assist in various general ledger and reconciliation projects.
• Act as backup for other loan servicers when needed.
• Assist in developing and reviewing desktop procedures as necessary.

Monthly
• Responsible for preparation of management reports.
• Assist in special projects providing subject matter expertise relating to loan servicing.
• Alternate in leading monthly meetings regarding interest/fee variances with business units.
• Assist in month end closing of loan system. Review EOM checklist and process as necessary.

Requirements
The successful candidate will be able to demonstrate:
• Accounting, Finance or related degree preferred (or equivalent).
• Strong preference for Asset Based Lending loan servicing experience and background in accounting and/or finance.
• Proven previous experience from a commercial loan servicing position required.
• Good understanding of lending documents and principles.
• Must be detail- and multi-task oriented.
• Excellent written and oral communication skills.
• Organised and can work independently using good business judgment.
• Proficiency with spreadsheet (Excel) and Microsoft Office.
• Ability to travel (5%).

To apply for this role please visit our career portal via the link below and search for Req ID 267BR.

 https://sjobs.brassring.com/TGWebHost/home.aspx?partnerid=25486siteid=5553

Confirmation of the right to live and work in the United Kingdom will be required. If you are a non-EU national, you may visit the Border and Immigration Service website http://www.ukba.homeoffice.gov.uk/workingintheuk/ for details of the new Points Based Immigration System. Candidates who cannot establish the right to live and work in the United Kingdom will not be considered.