Juniper Square - Senior Director, Fund Administration (Loan Servicing)
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Requirements
• 12 to 20 years of experience in commercial loan servicing, loan administration, or loan operations, with at least the last 3 to 5 years in a hands-on operational seat. Experience working at a fund administrator, asset manager, or third-party servicer is required. • 5+ years of experience hiring, managing, and developing a team of loan servicing or loan administration professionals at varying experience levels. • Private credit fluency is required. CRE loan servicing depth is strongly preferred. Pure agency or CMBS-only backgrounds are weaker fits. • Demonstrated experience building or materially scaling a servicing function or sub-function: team build, playbook creation, system implementation. • Working command of the core CRE servicing activity set: SOFR resets, construction draws, reserve and escrow administration, covenant testing, syndicated and participated loan waterfalls, borrower modifications, and third-party report review. • Hands-on experience with at least one institutional servicing platform (Enterprise, McCracken Strategy, Precision LM, Sagent, LoanSphere MSP, or a comparable internal build). Excellent Excel and cash flow modeling skills. Experience with Argus or equivalent is a plus. • Comprehensive understanding of real estate finance, debt and equity structures, the due diligence process, and lending and credit policies. Full understanding of property sectors (office, retail, industrial, hotel, multifamily, residential) and their different investment characteristics. • Ability to approach work from more of a transaction basis versus task basis. Analytical skills to understand complex commercial loan documents. • Excellent written and verbal communications skills. You will draft the playbook, client-facing materials, and policy documents. • Operational mindset with a strong focus on building repeatable, scalable processes. • Curiosity about applying AI to credit and servicing workflows, and comfort working closely with Product Managers and engineers as the platform evolves. • Comfort with ambiguity; self-starter and entrepreneurial; inclusive attitude. • At Juniper Square, we believe building a diverse workforce and an inclusive culture makes us a better company. If you think this job sounds like a fit, we encourage you to apply even if you don't meet all the qualifications.
Responsibilities
• Participate in designing the target operating model for the function: org structure, on-shore and off-shore split, system stack, controls framework, SLAs, and escalation paths. • Hire, onboard, and develop a team of loan servicing analysts, draw administrators, and asset surveillance staff at varying experience levels; guide the team through proficiency certification. • Select, contract, and implement any required systems. Run a structured evaluation of real estate-specific tools (e.g., Built, Rabbet) against Juniper Square's existing fund administration tech. • Partner with Product on Tenor, Juniper Square's AI credit platform: bring servicing operator perspective into product decisions, prioritize the automation that removes manual work from your team, and co-design new features as they ship. Over your first 12 months you will move from day-one power user, to operator-feedback partner, to co-designer of the AI-native servicing motion alongside Product. • Stand up the playbook end-to-end: boarding checklists, draw workflows, reserve mechanics, covenant calendars, watchlist criteria, investor reporting templates, and the borrower correspondence library. • Partner across Fund Accounting, Investor Services, Technology, Risk, and Client Service to integrate servicing data into the broader fund administration workflow, including NAV strikes and investor reporting. • Serve as an internal escalation point for challenging customer situations, complex CRE loan questions, and handoffs to asset management or special servicing. • Identify and execute on initiatives to improve team efficiency and productivity, including collaborating with our Product Team on technology and automation improvements; maintain strong controls and evolve them with scale. • Set the standard for white-glove service across every client touchpoint: precise, on-time deliverables; clean and consistent reporting packages; same-day responsiveness on routine borrower and client requests; and proactive communication on issues before they become escalations. You personally model this for the team. • Coordinate new loan and new portfolio boarding: collect loan documents, obtain contact information for all relevant parties, and ensure accurate set-up in the servicing system, including principal allocation across senior and mezz tranches, interest accrual conventions (Actual/360, 30/360), SOFR index selection (Term SOFR vs. Daily Simple SOFR), reset cadence, floor and cap mechanics, fees, and reserve schedules. • Run monthly rate resets: pull the appropriate SOFR index on the reset date, apply spread per the credit agreement, validate against the loan documents, and produce borrower rate notices and accrual entries. • Review disbursement requests, monitor draw procedures, and manage flow-of-funds mechanics for construction and renovation loans, including review of budgets, pay applications, back-up documentation, title updates, lien waiver tracking, retainage, hard cost versus soft cost line items, and inspection reports. Periodic travel to inspect construction projects. • Monitor reserve and escrow accounts to ensure borrower compliance with governing documents, including provisions related to budget, taxes, insurance (verification and payment), TI/LC, capex, debt service, collateral, and future funding. • Perform monthly waterfall calculations across syndicated and participated loans: pro-rata allocations, payment waterfalls, monthly remittances, fee true-ups, and monitoring of income, operating budgets, and leasing status. • Reconcile and review billing statements, release statements, payoff statements, and remittance reports; calculate property and unit release prices and monitor releases. • Monitor loan performance through covenant testing, financial statement spreading, DSCR, debt yield, LTV, and occupancy; use Tenor's capabilities to monitor credit signals and covenants as a primary surveillance input, validate outputs against ground truth, and route corrections back to Product; update and maintain cash flow models in Argus or equivalent industry software; escalate default concerns in written reports and drive watchlist actions. • Analyze and interpret loan documents and provide advice and direction to the Asset Management and Loan Operations teams; assess third-party reports (appraisal, property condition, engineering, seismic, environmental, zoning); handle borrower requests including consents, modifications, waivers, mezz draws, and lease approvals. • Produce investor and lender reporting on a recurring cadence; respond to ad-hoc data requests from the GP and LPs.
Benefits
• You are not joining a built shop. You start from a clean sheet inside a fund administrator with executive sponsorship at GM level. • The scope is wider than a pure-play servicer. You sit between Fund Accounting, Investor Services, Technology, and the GP. The servicing data you produce flows into investor reporting and NAV. • This is an AI-native servicing build. Tenor, Juniper Square's proprietary AI credit platform, is in production today and central to how we service credit. You will be a day-one power user, become Tenor's most consequential operator-feedback partner inside the first year, and by month 12 sit at the design table for what ships next. That kind of seat at the product table does not exist at a pure-play servicer or a traditional fund administrator. • Private credit is the center of gravity, not agency or CMBS. • You pick the system stack, the org shape, and the playbook. At a built shop you'd inherit them. • Compensation for this position includes a base salary, bonus, equity, and a variety of benefits. The U.S. base salary range for this role is $190,000 - $230,000. Actual base salaries will be based on candidate-specific factors, including experience, skillset, and location, and local minimum pay requirements as applicable. • Health, dental, and vision care for you and your family • Life insurance and disability coverage • Mental wellness coverage • Fertility and growing family support • Flex Time Off in addition to company paid holidays • Paid family leave, medical leave, and bereavement leave policies • 401k retirement savings plan • Healthcare FSA and commuter benefits programs • Allowance to customize your work and technology setup at home • Annual professional development stipend
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