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Secondary Loan Closer

Req #: 180020918
Location: London, ENG, UK
Job Category: Operations
Job Description:
Wholesale Lending Services (WLS) services clients in Business Banking, Commercial Banking, Asset Management and the Corporate & Investment Bank. The group consists of approximately 2,200 employees and is responsible for 300,000 loans with a value in excess of $500 billion.
 
Wholesale Lending Middle Office (WLMO) is part of WLS and provides global end-to-end loan origination, servicing, restructuring and trading support.  Services are tailored to the needs of the client and lines of business, ranging from bilateral to large syndicated loan agreements. Services provided include Loan Origination; Deal Closing & Funding; Documentation Review; Core Loan Servicing; Loan Closing & Trade Settlement. Within WLMO the following role has become available:
 
Loan Trading Documentation – Par & Distressed Loan Closer
  • Working in a very dynamic environment and partnering with the trading desk, external clients, legal counsel and operations to settle primary / secondary  par and distressed loan trades across EMEA, North America and Asia
  • Reviewing, negotiating and drafting LMA standard documents and other trade-related documents including confirms, assignment agreements, claims, proceeds letters, participation agreements, cash collateral agreements and multilateral agreements
  • Coordinating with internal and external legal counsel to agree to proposed changes to trade documents
  • Reviewing and understanding syndicated credit agreements with specific focus on transfer mechanics
  • Managing a challenging trade portfolio across various lines of business while maintaining a healthy aging profile and driving reduced settlement times
  • Identifying and escalating issues to the front office trading assistants / traders / sales people, internal legal counsel and operations management
  • Escalating LMA trade confirmation issues, focusing primarily on key economics, language and fee-related disputes
  • Working directly with counterparties, internal partners and external Agents to resolve issues
  • Monitoring / tracking / reporting of all escalated issues using appropriate workflow tools
  • Coordinating timely and precise trade settlement with various settlement groups across WLMO
  • Performing trade-related calculations, including delayed compensation, cost of carry and benefit of commitment reductions
  • Creating and understanding key metrics reporting for front office teams; daily / weekly / monthly reporting of open / closed / new trade population
  • Responsible for waiver and amendment monitoring for credits where necessary
  • Working on non-BAU projects and initiatives designed to improve automation and strengthen the team’s control environment
    Requirements:
    • Extensive knowledge of the LMA market to include bankruptcy and restructurings
    • Experience in distressed closings would be particularly desirable
    • Subject matter expertise in relation to loan transfer documentation and loan settlements
    • Knowledge of Loan IQ and ClearPar preferred
    • Excellent oral and written communication skills
    • Excellent 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
    • Graduate calibre
    • Strong PC skills in particular Excel, Word and PowerPoint
    • Must be able to resolve complex issues on a frequent basis
    • Must have excellent client service skills
    • European language skills desirable
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