Loan Operations Associate Jobs in Chicago, IL (NOW HIRING)

Description

The Senior Associate, Loan Operations, is responsible for managing a portfolio of agented and non-agented loan transactions throughout their lifecycle. This role serves as a key operational partner to Monroe Capital's investment and portfolio management teams, supporting loan closings, funding activities, servicing, cash management, reconciliations, participant settlements, and ongoing portfolio administration. The ideal candidate will possess strong knowledge of syndicated lending, loan documentation, and servicing operations, along with the ability to manage multiple priorities in a fast-paced, deadline-driven environment. This is a hybrid position requiring 3-4 days per week in Monroe Capital's Chicago office. 

Primary Job Responsibilities:

Loan Portfolio Administration 

• Manage a portfolio of direct agented and non-agented loan transactions from closing through repayment. 
• Monitor loan activity and ensure accurate processing of borrower advances, payments, fees, and contractual events. 
• Maintain complete and accurate loan records within servicing systems. 
• Respond to internal and external inquiries regarding loan balances, interest calculations, fees, expenses, and transaction activity. 
• Proactively identify operational issues or portfolio concerns and escalate to appropriate stakeholders. 

Deal Closing and Funding 

• Coordinate the operational execution of new transactions, amendments, restructurings, and other credit-related events. 
• Review credit agreements and related legal documentation to ensure accurate deal setup and servicing requirements. 
• Prepare closing documentation, funding notices, and operational workflows for transaction execution. 
• Collaborate closely with underwriting, legal, treasury, and portfolio management teams to facilitate efficient closings and fundings. 
• Coordinate funding activities with lenders, participants, borrowers, and agent banks. 

Cash Management and Reconciliation 

• Perform daily cash reconciliations and ensure accurate recording of all cash activity. 
• Monitor multiple bank accounts and identify incoming borrower, lender, and participant payments. 
• Investigate and resolve cash and position discrepancies in a timely manner. 
• Initiate and process wire transfers in accordance with established procedures and controls. 

Participant and Stakeholder Management 

• Communicate loan activity, funding events, and servicing updates to lending partners and participants. 
• Coordinate settlement activity among participants and funding partners to ensure accurate allocations and reporting. 
• Build and maintain strong relationships with borrowers, lenders, agent banks, and internal business partners. 
• Support audit requests, reporting requirements, and special projects assigned. 

Requirements

Required Qualifications 

• 3-7 years of loan operations, loan servicing, banking operations, treasury operations, or related experience. 
• Experience closing and servicing syndicated credit facilities. 
• Strong understanding of loan documentation, credit agreements, and operational servicing requirements. 
• Advanced proficiency with Microsoft Excel and Microsoft Office Suite. 
• Excellent analytical, organizational, problem-solving abilities and communication skills. 
• Ability to manage multiple priorities with exceptional attention to detail. 

Preferred Qualifications 

• Experience within private credit, direct lending, middle-market lending, or commercial banking. 
• Experience with Wall Street Office (WSO) or similar loan servicing platforms. 
• Bachelor's degree in Accounting, Finance, Economics, Business Administration, or a related field. 

Physical Requirements

• Stationary Work: Able to remain in a stationary position for extended periods while performing computer work, phone communication, and administrative tasks.
• Movement: Occasionally moves about the office to access files, supplies, meeting rooms, or other work areas. 
• Reaching/Positioning: Occasionally positions self to access shelves, organize materials, or retrieve office supplies. 
• Computer and Equipment Use: Regularly operates a computer and other standard office productivity equipment (e.g., phone,     printer, copier). 
• Communication: Able to communicate effectively in person, over the phone, and through electronic methods as required to perform essential job duties. 

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed. 

Compensation

It is expected that the base salary range for this position will be $85,000-110,000. Actual salaries may vary based on factors such as skills, experience, and qualifications for the role. The total compensation package for this position may also include other elements and discretionary awards in addition to a full range of medical, financial and / or other benefits (including 401(k) eligibility and various paid time off benefits such as vacation, sick time and parental leave) dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment. If hired, the employee will be in an 'at-will position' and the Firm reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time including for reasons related to individual performance, Firm or individual department / team performance and market factors.   

About Monroe Capital 

Monroe Capital LLC ("Monroe") is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 12 locations throughout the United States, Middle East, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including GrowthCap Advisory's 2025 Top Private Credit Firm List; Inc.'s 2025 Founder-Friendly Investors List; DealCatalyst as the 2025 Most Innovative Private Credit CLO Manager of the Year; Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Global M&A Network as the 2024 Lower Mid-Markets Lender of the Year, Americas; Korean Economic Daily as the 2022 Best Performance in Private Debt - Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.