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Borrowing Base Specialist
Ref No.: 17-00816
Location: Jersey City, New Jersey
Position Type:Contract
DIRECT CLIENT REQUIREMENT
Title: Borrowing Base Specialist
Location: Jersey City, NJ
Duration: 3 Months

Business Overview:

Corporate Transaction Management- TBBR is a dedicated team within the Corporate Platform. The group is located in New York and is responsible for managing Secured and Unsecured Transactional facilities and analyzing Borrowing Base reports for the Commodity Finance North America and Latam Business Units.

A main function of the group is the Analytical review of the Borrowing Base reports supporting over 60 Commodity lending facilities. The group is also responsible for the administration of approved credit facilities and the day-to-day operations (such as preparing and authorizing transactions, monitoring outstandings, etc.), as well as any reporting and monitoring of collateral supporting those facilities. In addition the group works very closely with the Front Office staff to ensure proper reporting and compliance.


Responsibilities:
PRIMARY DUTIES INCLUDE

Borrowing Base Economic Review:
  • Review credit agreements, facility letters, term sheets and/or FC-1 to understand the terms and intricacies of the deal
  • Summarize all pertinent material relating to collateral and prepare a comprehensive checklist of all relevant items to be checked for the borrowing base
  • Ensure all Deposit Control Agreements, Tripartite Agreements and Warehouse Notifications are in place
  • Coordinate with ITO Middle Office on borrowing base submission and review status
  • Reconcile borrowing base certificates and support documents to determine compliance to the credit facility and document findings on the BB Checklist
  • Monitor open account receivable limits per customer to confirm outstanding are within the approved limits
  • Review the Borrowing Base Historical report, noting any unusual swings and escalating any unusual findings
  • Review and monitor valuation trends for ABL or Intermodal BB backing assets, and update trend cards
  • Contact client directly on any issues/questions regarding items on the borrowing base.
  • Coordinate and support Chrysalide compliance checks for borrowing base clients according to approved protocols.
  • Liaise with the ITO Middle Office Flow team on any issues related to the borrowing base review, and address any inquiries from ITO MO staff as needed to facilitate their review and processing of Borrowing Base utilizations.
OTHER DUTIES INCLUDE

Review transactions and manage deal lifecycle for uncommitted corporate deals, and transactional financing for North America and LatAm booked deals in the energy/commodities sectors

Facility Review and Set-Up:
  • Review Credit Agreements, facility letters, term sheets and FC-1 to understand the terms and intricacies of the deal
  • Complete the Required Documentation Checklist, Facility Set-up Template with appropriate account and collateral information
  • Set-up of facility into the collateral system ECoS or prepare a spreadsheet (Excel) with relevant facility information

Uncommitted Corporate and Transactional Financing Utilizations:
  • Review and evaluate letters of credit application(s) or loan request(s), purchase and sales contracts, and any other documentation to determine their compliance with their terms outlined in the approved credit facility
  • Review, record and process all receipt and release of title documents
  • Perform all compliance checks according to Chrysalide or TRUST protocols
  • Prepare and authorize transaction forms to show flow of transaction, and liaise with Front Office if required

Payment Risk Assumption:
  • Assist Account Officers in all the formalities in the closing of a deal
    • Liaise with CTM Banker Support team on the completion of KYC
    • Prepare the Loan Summary and Pre-Closing Memo
    • Review and forward legal documentation and participants information to the appropriate parties
  • Review the line availability
  • Perform all compliance checks according to Chrysalide or TRUST protocols
  • Ensure compliance with KYC requirements
  • Prepare all documentation to be submitted to Paris, Geneva, or customer (seller)
  • Issue fee information to Loan Department for invoicing (upfront or at repayment)
  • Prepare booking instructions form to be sent to operations/Paris (if insured)
  • Perform reconciliation of the PRA transactions to Atlas, and update the PRA Log Report on a daily basis for any clients that had movement
  • Track the estimated repayment


Other Tasks:
  • Interface with ITO Middle Office and back office departments on a daily basis
  • Back-up other Transaction Specialists when needed
  • Perform confirmation of Letter of Credit and discounted thereafter
  • Assist in ad hoc projects as required
  • When required, attend annual field audits with the CRC team

Qualifications:
  • Audit background – 2 to 3 years of experience
  • Undergraduate degree in Finance / Accounting
  • Ability to read and interpret financing agreements
  • Analytical and detail oriented
  • Strong written and verbal communication skills
  • Strong organizational skills with the ability to multitask
  • Financial background
  • Spanish speaking


Minimum required qualifications
  • Audit background – 2 to 3 years of experience
  • Undergraduate degree in Finance / Accounting
  • Analytical and detail oriented
  • Strong written and verbal communication skills
  • Strong organizational skills with the ability to multitask


Preferred qualifications:
  • Ability to read and interpret financing agreements
  • Financial background
  • Spanish speaking


Client Registrations Required: No