Par Loan Closer (AVP)

Position: Permanent

Salary: £75,000

Location: London

Job ID: JA2209PLC

Our client, a successful multinational bank, are looking for an experienced AVP Par Loan Closer to join their Credit Trading Desk in London, responsible for trading activity in Syndicated & Bilateral Loans.

The Closer will be involved in all aspects of pre-trade and post-trade queries. The Closers are expected to have a good understanding of LMA standard terms and conditions and have good technical expertise.

Key Responsibilities of the AVP 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 AVP Par Loan Closer:

  • Par Closing experience across LMA 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.
  • Demonstrate market risk, operational risk and control awareness.
  • Attention to detail with a high level of accuracy