As a Par & Distressed Loan Closer - Associate in the Loan Trading team you will partner with the trading desk and external clients, legal counsel and operations to settle primary / secondary par and distressed loan trades across EMEA. You will work directly with counterparties, internal partners and external Agents to resolve issues.
Job responsibilities
- Understands, reviews and drafts LMA standard documents and other trade-related documents including confirms, assignment agreements, claims, proceeds letters, participation agreements, cash collateral agreements and multilateral agreements
- Coordinates with internal and external legal counsel to agree to proposed changes to trade documents
- Reviews and understands syndicated credit agreements with specific focus on transfer mechanics
- Manages a challenging trade portfolio across various lines of business while maintaining a healthy aging profile and driving reduced settlement times
- Identifies and escalates issues to the front office trading assistants / traders / sales people, internal legal counsel and operations management
- Escalates LMA trade confirmation issues, focusing primarily on key economics, language and fee-related disputes
- Monitors / tracks / reports of all escalated issues using appropriate workflow tools
- Coordinates timely and precise trade settlement with various settlement groups across WLO
- Performs trade-related calculations, including delayed compensation, cost of carry and benefit of commitment reductions
- Creates and understands key metrics reporting for front office teams; daily / weekly / monthly reporting of open / closed / new trade population
- Works on non-BAU projects and initiatives designed to improve automation and strengthen the team’s control environment
Required qualifications, capabilities, and skills
- Extensive knowledge of the LMA market to include bankruptcy and restructurings
- Subject matter expertise in relation to loan transfer documentation and loan settlements
- Excellent oral and written communication skills and analytical skills
- Self-motivation with tangible examples of demonstrating drive and initiative
- Highly organized
- Extremely detailed and control orientated; keen to understand the detail
- Ability to multitask efficiently under pressure and in a fast paced environment
- Strong PC skills in particular Excel, Word and PowerPoint
- Must be able to resolve issues on a daily basis
- Must have excellent client service skills
Preferred qualifications, capabilities, and skills
- European language skills
- Knowledge of Loan IQ and ClearPar
- Experience in distressed closings