CB - Loan Trading Documentation Associate

JP Morgan

Location: Greater London

Job Type: Full time

Posted

The most difficult thing is the decision to act, the rest is merely tenacity.
- Amelia Earhart

Loan Trading Documentation – Par & DistressedLoan Closer – Associate

Description

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.

What is Wholesale Lending Services (WLS) - WLS contributes to the success of JPMorgan Chase by providing vital loan operations functions to key business units within our company.

These functions include:

  • Credit Administration
  • Loan documentation, closing and funding
  • Payment and fee processing
  • Syndication loan and trade processing
  • Collateral perfection and management
  • Customer service and reporting

WLS has approximately 2,500 employees based in North America, Europe, and Asia. It has established strong internal partnerships across the various lines of business to ensure efficient service delivery to the firm's global client base. WLS is responsible for the operational support of approximately 351,000 loans and $390 billion dollars in outstanding balances so far this year. WLS supports businesses within JPMorgan Chase’s Corporate and Investment Bank, Commercial Bank, Asset Management, and Consumer and Community Banking.

Secondary Loan Trading Business

The EMEA Loan Trading business is part of the Corporate and Investment Bank’s Global Credit Trading platform. The business trades all privately issued loans, including second lien and mezzanine securities and in the case of distressed loans any successor or restructured instruments including restructured equity. Our client base includes the top European banks, credit funds, CLO investors, hedge funds and private equity clients. The desk serves each of these clients with opportunities from Investment Grade to distressed and complex restructurings.

Loan Trading Documentation – Par & Distressed Loan Closer position entails the following:

  • Working in a very dynamic environment and partnering with the trading desk, external clients, legal counsel and operations to settle primary / secondary par and distressed loan trades across EMEA
  • Understanding, reviewing and drafting LMA standard documents and other trade-related documents including confirms, assignment agreements, claims, proceeds letters, participation agreements, cash collateral agreements and multilateral agreements
  • Coordinating with internal and external legal counsel to agree to proposed changes to trade documents
  • Reviewing and understanding syndicated credit agreements with specific focus on transfer mechanics
  • Managing a challenging trade portfolio across various lines of business while maintaining a healthy aging profile and driving reduced settlement times
  • Identifying and escalating issues to the front office trading assistants / traders / sales people, internal legal counsel and operations management
  • Escalating LMA trade confirmation issues, focusing primarily on key economics, language and fee-related disputes
  • Working directly with counterparties, internal partners and external Agents to resolve issues
  • Monitoring / tracking / reporting of all escalated issues using appropriate workflow tools
  • Coordinating timely and precise trade settlement with various settlement groups across WLO
  • Performing trade-related calculations, including delayed compensation, cost of carry and benefit of commitment reductions
  • Creating and understanding key metrics reporting for front office teams; daily / weekly / monthly reporting of open / closed / new trade population
  • Responsible for waiver and amendment monitoring for credits where necessary
  • Working on non-BAU projects and initiatives designed to improve automation and strengthen the team’s control environment

Qualifications / Experience

  • Extensive knowledge of the LMA market to include bankruptcy and restructurings; experience in distressed closings would be particularly desirable
  • Subject matter expertise in relation to loan transfer documentation and loan settlements
  • Knowledge of Loan IQ and ClearPar preferred
  • Excellent oral and written communication skills
  • Excellent analytical skills
  • Self-motivation with tangible examples of demonstrating drive and initiative
  • Highly organized
  • Extremely detailed and control orientated; keen to understand the detail
  • Ability to multitask efficiently under pressure and in a fast paced environment
  • Graduate calibre
  • Strong PC skills in particular Excel, Word and PowerPoint
  • Must be able to resolve issues on a daily basis
  • Must have excellent client service skills
  • European language skills desirable
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