Loan Trading Documentation – Par & Distressed Loan Closer

Commercial Bank - Loan Trading Documentation – Par & Distressed Loan Closer

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.

Primary Job responsibilities:

• 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.
• 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.

Required qualifications, capabilities, and skills:

• 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.
• Excellent analytical skills and highly organized.
• Self-motivation with tangible examples of demonstrating drive and initiative.
• Extremely detailed and control orientated; keen to understand the detail.
• Ability to multitask efficiently under pressure and in a fast paced environment.
• Must have excellent client service skills.

Preferred qualifications, capabilities, and skills:

• Knowledge of Loan IQ and ClearPar.
• Strong PC skills in particular Excel, Word and PowerPoint.
• European language skills.