Par Loan Closer VP
Our client, a successful tier 1 bank are looking for an experienced Par Loan Closer at VP level to join their busy and expanding London office.
You will be involved in all aspects of pre-trade and post-trade queries and will be expected to have a good understanding of LMA standard terms and conditions and have good technical expertise.
- 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.
- A minimum of 5 years of primary or secondary Closing experience across LMA and 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.
- A good working knowledge of Legal & Tax standards/practices that are common place in the Market, such as the understanding of (i) Novation vs Assignment (ii) WHT (iii) Transfer under French Law, Spanish Law, German Law.
- Essential to understand Public/Private restrictions.