Secondary Loan Trading Distressed Closer
Our client, a tier one bank based in London, is seeking a professional with previous Distressed experience to close distressed and claims trades with LMA and LSTA documentation.
This role requires proactive engagement with internal and external stakeholders, both regionally and globally, strong communication skills, plus the ability to independently identify efficiency / STP opportunities. It also requires the individual to have an awareness of the Industry/Regulatory improvements within the Loans market, and how that may impact the day-to-day processes.
This position provides hybrid working with 3 days based on the office, and 2 days working remotely from home.
The key responsibilities of the Distressed Loan Closer:
- Manage a portfolio of traded loans, managing a portfolio inventory covering LMA, LSTA Par, Distressed and Claims trades.
- Ensuring that all documentation satisfies procedural and audit requirements in respect of LSTA and LMA PAR, Claims and distressed trading.
- Liaison with Legal internal/external giving feedback on Distressed and Claims traded documents, following trade life cycle from trade to settlement.
- Ensuring that Trades are updated in the bank’s systems, and Loan IQ in accordance with the bank’s procedures to accurately reflect purchase or sale risk and P&L accounting requirements.
- Resolution of long outstanding trades, taking action to actively close
- Ensuring that all queries both internal and external are responded to in a timely manner, seeking guidance where required.
- Close liaison with the Sales, Trading and Closing teams, Legal and Agents to ensure the smooth processing of trade transactions.
- Support the SLT Settlements team through project work as allocated to improve processes, procedures and systems operating within the team.
- Control of Inventory, ensuring time critical deadlines are achieved and highlighting any bottlenecks or closing to traders.
- Maintain professional approach towards clients internal and external, assisting as and when required.
- Ensure trades can be settled quickly and efficiently including use of multi-lateral netting docs where possible.
The experience required of the Distressed Loan Closer:
- You will have strong connectivity with the global front office and all global operations teams so excellent communication and influencing skills are key.
- Strong Distressed product background is required, with a sense of urgency and ability to work unsupervised to strict deadlines.
If this position is aligned with your experience and career goals, please submit your CV for consideration.