Par & Distressed Loan Closer – Associate

Greater London
Full time
Posted
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JP Morgan
Banking, investment & finance
10,001+ employees
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If you are interested in developing your career in Loan Trading business, check the below offer.

The Loan Trading business is a 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.

As a Par & Distressed Loan Closer - Associate in the Loan Trading team you will partner with the trading desk and external clients, legal counsel and operations to settle primary / secondary par and distressed loan trades across EMEA. You will work directly with counterparties, internal partners and external Agents to resolve issues.

Job responsibilities

  • Understands, reviews and drafts LMA standard documents and other trade-related documents including confirms, assignment agreements, claims, proceeds letters, participation agreements, cash collateral agreements and multilateral agreements
  • Coordinates with internal and external legal counsel to agree to proposed changes to trade documents
  • Reviews and understands syndicated credit agreements with specific focus on transfer mechanics
  • Manages a challenging trade portfolio across various lines of business while maintaining a healthy aging profile and driving reduced settlement times
  • Identifies and escalates issues to the front office trading assistants / traders / sales people, internal legal counsel and operations management
  • Escalates LMA trade confirmation issues, focusing primarily on key economics, language and fee-related disputes
  • Monitors / tracks / reports of all escalated issues using appropriate workflow tools
  • Coordinates timely and precise trade settlement with various settlement groups across WLO
  • Performs trade-related calculations, including delayed compensation, cost of carry and benefit of commitment reductions
  • Creates and understands key metrics reporting for front office teams; daily / weekly / monthly reporting of open / closed / new trade population
  • Works on non-BAU projects and initiatives designed to improve automation and strengthen the team’s control environment

Required qualifications, capabilities, and skills

  • Extensive knowledge of the LMA market to include bankruptcy and restructurings
  • Subject matter expertise in relation to loan transfer documentation and loan settlements
  • Excellent oral and written communication skills and 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
  • 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

Preferred qualifications, capabilities, and skills

  • European language skills
  • Knowledge of Loan IQ and ClearPar
  • Experience in distressed closings