An exciting opportunity has arisen for a Par Loan Closer to join a tier 1 bank based in London at AVP level. You will be involved in all aspects of pre-trade and post-trade queries.
The main Responsibilities of the Par Loan Closer
- Closing of PAR LMA and LSTA loan trades
- Manage workflows via Clearpar/Markit
- Drafting of Loan Trade settlement documentation – Trade Confirmations, Transfer Documents, Pricing Letters (amongst others) when not settling via Clearpar
- Review of underlying credit documentation to ensure accurate assignment of debt
- Liaise with our business partners, counterparties and their legal counsel in a professional manner and take the lead role where required.
- Be competent in all aspects of settlement and be aware of the nuances of transferring inventory under various governing laws.
- Have a good understanding of the Loan Market Association.
- 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
- Have a very good understanding of Public / Private boundaries
- Seek to improve operational procedures and controls within the group. Identify weakness, articulate these and offer up solutions.
Experience Required of the Par Loan Closer
- A minimum of 2 years Loan Closing experience across LMA and or LSTA markets
- Fully competent of closing trades using the ClearPar trade settlement platform
- Good understanding of the LMA Term and Conditions.
- Understanding of common market practices.
- Good understand of the market and requirements across jurisdictions to settle trades.
- Essential to understand Public/Private restrictions.
- Ability to multitask to complete all aspects of this role and to meet deadlines or required standards.
- Demonstrable market risk, operational risk and control awareness.
- Attention to details / high level of accuracy
- Confident, enthusiastic and positive attitude.
- Strong team player.