Deal Administrator - Trade Finance

Client Service Delivery| Trade Finance | Deal Administrator - Associate| NYC

About ING: 

Ranked #8 on LinkedIn Top Companies in Financial Services

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Ragan’s Top Places to Work in 2023

In Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients. 

 
When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.
We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.

Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the position:

We are seeking a candidate with detailed knowledge of Receivables and Supply Chain Finance administration, along with experience in Loan Administration, including investigation and reconciliation. The Deal Administrator will handle Trade Finance transactions and daily workflow, booking of loan receivables, reporting, billing, document checking, and payments, with all transactions captured on the Loan IQ Lending platform.

Responsibilities include administering a diversified loan portfolio, analyzing agreements, loan terms and structures, and maintaining loans within our core system performing regular audits, and reconciling interest and fees on a significant backlog.

The role requires skills in reviewing and interpreting commercial loan terms and documentation, resolving discrepancies, and preparing spreadsheets as necessary. The candidate must be able to identify and recommend changes to standard procedures based on specific situations, solve moderate to complex issues, and communicate effectively both verbally and in writing.

Main Responsibilities: 

• The Deal Administrator will be responsible for all aspects of deal servicing, will be the primary client contact (external and internal) and will be responsible for performing the following functions:
• Support the day to day of large data set of Receivables and Supply Chain loans
• Process receivables and incoming payments in compliance with financial policies and procedures.
• Perform day-to-day financial transactions, including verifying, classifying, computing, posting, and recording accounts receivables' data.
• Prepare bills, invoices as needed.
• Reconcile the accounts receivable ledger to ensure all payments are accounted for and properly posted.
• Facilitate payment of invoices due by sending bill reminders and contacting clients.
• Generate weekly aging reports and resolve outstanding payment issues.
• Maintain accurate records and documentation for all transactions.
• Collaborate with other departments to ensure smooth financial operations.
• Manage daily activity on existing Trade Finance transactions
• Reconcile discrepancies among interest and fees
• Monitor daily loan repricing activity and chase Agent as needed
• Monitor commitment limits and expiration dates
• Monitor daily cash flow and process transactions timely
• Assist Manager in any special projects as needed

Qualifications / Education:

• You hold a Bachelor’s degree in Finance, Accounting, Business, Economics, Mathematics, or closely-related quantitative field from an accredited U.S. school (or equivalent)
• You have 4+ years of relevant experience in Receivable Finance and Supply Chain Finance

Experience / Knowledge:

• Loan IQ experience is preferred.
• Experience and familiarity with Trade Finance agreements and others related loan documentation
• Strong problem solving and analytical skills
• Strong focus on controls, procedures, quality, accuracy and detail oriented
• Personal Competencies :
• Self-motivated, confident and committed to the company goals
• Able to use MS-Office with advanced knowledge in Word, Excel and Power Point
• Capable to function under stressful conditions
• Ability to multi-task
• Flexible and learning capacity to adapt to on-going changes
• Client service oriented

Salary Range $80,000-$102,000

In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with working from home, commuting, and fitness.

ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to race, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.

ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.