Loan Closer – European Asset Services

Position: Permanent

Salary: £55,000

Location: London

Job ID: JA1708LC

Our client, a city based Asset Services business, are seeking a Loan closer to join their very successful Loan settlements team. If you do not have loan closing experience but are keen to move on from a Loan administration or Loan documentation role then training can be provided!

The main responsibilities of the Loan Closer;

  • Review and understand LMA/LSTA par/distressed standard documentation such as Trade confirmations, Transfer certificates, Participation agreements, Multilateral agreements, Pricing letters etc.
  • Review and understand Credit Agreements and the clauses pertaining to transfers
  • Effect trade settlements using ClearPar, in order to ensure accuracy of LMA/LSTA documentation and calculation of trade proceeds
  • Handle “off-line” settlements following prescribed workflows
  • Calculate trade related formulas, such as delayed compensation, cost of carry and economic benefit
  • Target closing trades ahead of the LMA/LSTA standards for settlement time
  • Monitoring/tracking/reporting of all trades using appropriate workflow tools
  • Identifying and escalating issues to traders, in house legal and compliance teams as well as management
  • Co-ordinate settlement efforts with internal teams incl. Legal, Compliance, Finance, US Loan Closing, FX and Middle Office teams as required
  • Liaise with Administrative Agents with regards to KYC documentation, including administrative details, tax and fund formation documents
  • Develop network of effective relationships with Counterparties and Agents
  • Identify process efficiencies and marginal gain opportunities for the team.
  • Assist line management with initiatives and projects as required

The skills required of the Loan Closer:

  • Loan closing Or Loan Documentation or Loan Administration experience is required
  • Knowledge of loan settlements across multiple jurisdictions would be a preference but not essential
  • Numerate with high attention to detail
  • Clear and confident communicator, both verbally and written
  • Ability to work to tight deadlines and flexible to meet personal and team workload
  • Previous knowledge of ClearPar, WSO and other Loan market systems would be a preference but not essential