Associate, Loan Servicing & Accounting

Faropoint•Hoboken, NJ

1d•$70,000 - $90,000•Onsite

About The Position

The Senior Associate, Loan Servicing & Accounting will be a key member of the Fund Finance team, responsible for the day-to-day accounting and servicing operations across Faropoint's debt investment platform. This role encompasses loan-level interest billing and collections, borrower payment processing, lender reporting, and fund-level accounting for debt vehicles. The ideal candidate brings strong technical accounting skills, meticulous attention to detail, and experience with commercial real estate loans.

Requirements

Bachelor's degree in Accounting, Finance, or a related field.
2-4 years of progressive experience in accounting or loan servicing, preferably in commercial real estate, private equity, or lending.
Proficiency in Excel, including complex formulas, lookups, and financial modeling.
Excellent organizational skills and the ability to manage multiple deadlines across entities.
Experience with Yardi, Debt Manager, or similar real estate / fund accounting platforms.
Familiarity with credit facility compliance reporting and borrowing base certificates.

Responsibilities

Prepare and review monthly interest billing statements to borrowers, including SOFR-based interest calculations
Track loan-level payment receipts, monitor collections, and follow up on delinquencies.
Maintain the loan servicing system of record, ensuring accurate loan balances, interest rate floor monitoring, maturity dates, escrow/holdback balances, and amendment terms.
Process draw requests, paydowns, and payoffs in coordination with asset management and legal.
Borrower covenant package collection and monitoring
Loan onboarding to Yardi and Debt Manager
Perform monthly close for debt investment entities, including journal entries for interest income accruals, intercompany reconciliation, escrow balance reconciliation, and principal amount adjustments
Prepare and maintain loan-level trial balances, ensuring reconciliation across sub-ledgers and the general ledger.
Support consolidation workpapers and elimination entries for multi-entity fund structures.
Prepare quarterly lender covenant compliance packages (e.g., DSCR, LTV, tangible net worth).
Assist with annual audit and tax deliverables
Maintain organized documentation on SharePoint for audit trails, loan files, and compliance records.
Identify opportunities to streamline loan servicing workflows, automate recurring calculations, and improve reporting accuracy.
Collaborate cross-functionally with asset management, acquisitions, legal, and external service providers (fund administrators, auditors, lenders).
Support ad hoc analysis and special projects as the debt investment platform scales.