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LMA Loan Servicing Specialist

Pennington, New Jersey;

Job Description:

Job Description:

This position is responsible for servicing Merrill Lynch FAs and CAs with all aspects of the Loan Management Account (LMA), a Bank of America loan collateralized by assets in Merrill Lynch brokerage accounts.  LMA currently has over $33 B in outstanding loans and is a growth product.  The role services branch office personnel with phone inquiries related to Loan Management Account opening, use of various online tools, LMA account eligibility, fixed and variable loans, interest rates and discounting policies, loan values, loan applications, and knowledge of various operational processes.  The role involves direct interaction with Underwriting Team, Finance partners, internal management, as well as LMA Business partners, and Global Risk Management.  Includes additional opportunities to lead ask Merrill content refinement, revise procedures and training materials, and write CA Weekly articles.    The role encourages employee development and assuming additional responsibilities beyond phone calls is encouraged.    

Required Skills:

  • The ability to work effectively with financial advisors, client associates, bankers and branch OMT to find solutions to client needs.   
  • Strong analytical and problem solving skills.
  • Well organized individual with strong writing and phone communication skills.
  • Knowledge of BRIDGE

Desired Skills:

  • Finance or Business Degree
  • Strong understanding of the GWIM business
  • Strong background in banking or risk-related processes
  • Self-starter with strong work ethic
  • Team player that can be accountable to teammates on small team.

  • Required to work from the primary work location listed when not in remote operating stance
  • Initially you may be required to work from home and/or remotely in this role:
    • Internet Service Provider at home (no public WiFi or Internet)(high speed internet access and a secure or password-protected internet connection)
    • Sufficient room to set up a laptop, monitor, keyboard and mouse
    • Comfortable space to work for a full shift
    • Quiet, private and SECURE space in which to work

Job Band:

H7

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Description:

This position is responsible for servicing Merrill Lynch FAs and CAs with all aspects of the Loan Management Account (LMA), a Bank of America loan collateralized by assets in Merrill Lynch brokerage accounts.  LMA currently has over $33 B in outstanding loans and is a growth product.  The role services branch office personnel with phone inquiries related to Loan Management Account opening, use of various online tools, LMA account eligibility, fixed and variable loans, interest rates and discounting policies, loan values, loan applications, and knowledge of various operational processes.  The role involves direct interaction with Underwriting Team, Finance partners, internal management, as well as LMA Business partners, and Global Risk Management.  Includes additional opportunities to lead ask Merrill content refinement, revise procedures and training materials, and write CA Weekly articles.    The role encourages employee development and assuming additional responsibilities beyond phone calls is encouraged.    

Required Skills:

  • The ability to work effectively with financial advisors, client associates, bankers and branch OMT to find solutions to client needs.   
  • Strong analytical and problem solving skills.
  • Well organized individual with strong writing and phone communication skills.
  • Knowledge of BRIDGE

Desired Skills:

  • Finance or Business Degree
  • Strong understanding of the GWIM business
  • Strong background in banking or risk-related processes
  • Self-starter with strong work ethic
  • Team player that can be accountable to teammates on small team.

  • Required to work from the primary work location listed when not in remote operating stance
  • Initially you may be required to work from home and/or remotely in this role:
    • Internet Service Provider at home (no public WiFi or Internet)(high speed internet access and a secure or password-protected internet connection)
    • Sufficient room to set up a laptop, monitor, keyboard and mouse
    • Comfortable space to work for a full shift
    • Quiet, private and SECURE space in which to work

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21056362

Band: H7

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Erin Capuzzo

Referral Bonus:

0