Par Loan Closer (VP)

Position: Permanent

Salary: £90,000

Location: London

Job ID: JA2204PLC

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.

Key Responsibilities:

  • 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.

Knowledge/Experience:

  • 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.

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