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
