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Wholesale Lending Service | Trade Support Manager - New York

Req #: 170071741
Location: New York, NY, US
Job Category: Compliance
Job Description:
Special Product Closer – Associate
J.P. Morgan is a leading global investment bank with one of the largest client bases in the world. The Wholesale Lending Services (WLS) team of J.P. Morgan services several lines of businesses within the firm, including the Corporate and Investment Bank, Commercial Bank, Business Banking and Global Wealth Management.  The group consists of approximately 1,300 employees worldwide and is responsible for over $500 billion in loans outstanding. The Special Product Support Team within WLS supports the Corporate and Investment Bank’s North America Credit Trading desk with, equity and bond trades, trade claims transactions and other specialized non-loan products. The team also supports secondary market transactions in emerging markets loans and bonds.  The Special Product Support Team is responsible for a number of functions in support of this trade activity including but not limited to: liaising with front office, sales assistants, trade support, back office settlements, stock record, legal, compliance, finance, accounting, transfer agents and counterparties; drafting, reviewing and executing legal documents including Trade Confirms, Assignment Agreements, Purchase and Sale Agreements, Proceeds Letters, participation agreements,  Stock Powers, Officers Certificates, and Evidence of Transfers; maintaining a distressed inventory; reviewing and understanding operative documentation such as Credit Agreements and Security Agreements; and producing various compliance and regulatory reporting
Special Product Support Closer position entails the following:
  • Working with the trading desk, clients, counsel and operations to settle secondary trades associated with the following products:
    • Emerging Markets Loans
    • Distressed Equity/Bond
    • Trade Claims
    • Receivable/Lease Puts
    • Alternative Letters of Credit
  • Drafting, reviewing and understanding both LSTA Standard and other legal documents including Trade Confirms, Assignment Agreements, Purchase and Sale Agreements, Stock Powers, Officers Certificates, and Evidence of Transfers
  • Reviewing and coordinating with internal and external counsel on proposed changes to legal
  • Reviewing and understanding Credit Agreements,  Security Agreements, Stock Purchase Agreements, and other relevant trade documentation
  • Ability to manage heavy trade portfolio across all various lines of business while maintain a clean aging profile
  • Identifying and escalating issues to the front office trading assistants/traders/sales people, in-house legal counsel and management, when necessary
    • Focus on key economic, language and fee-related disputes
    • Working directly with counterparts and internal partners in issue resolution
  • Monitoring/tracking/reporting of all escalated issues using appropriate workflow tools
  • Coordinating settlement efforts with various settlement groups throughout the IB
  • Coordinate set up for (private non-DTC) equity instrument in various systems
  • Handling of Amendments and Corporate Action requests
  • Assisting Stock Record on any held away breaks/research
  • Monthly/weekly/daily reporting to senior management for open trades and trading metrics is required
  • Must be able to resolve issues on a daily basis
  • Must have excellent client and communication skills
  • Detail orientated individual that can multitask efficiently under pressure and in a fast paced
The specific experience necessary for this position is:
  • Excellent oral and written communication skills
  • Self-motivation and demonstration of initiative
  • Excellent analytical skills
  • Extensive knowledge of private bond and equity settlements, trade claims transactions
  • Knowledge of loan transfer documentation and loan settlements
  • Highly organized, detail-oriented
  • Control-focused mindset
  • BA or BS degree is necessary
  • Strong PC Skills: in particular Excel, Word and PowerPoint
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