Distressed Secondary Loan Closer

Johnson & Associates Rec Specialists
London (Greater)
Circa £70,000
01 Nov 2017
16 Nov 2017
Contract Type
Full Time
A fantastic opportunity has arisen for a Distressed Secondary Loan Closer to work within one of the largest International Banks in the UK.

Main responsibilities of the Distressed Secondary Loan Closer:

- Support all business within the firm if the nature of the transaction is to facilitate the settlement of Distressed Loans from one legal vehicle to the another
- Review loan documentation (or supporting financial / transaction security documents) to ascertain the transferability post trade or within pre-trade due diligence.
- Review and manage the restricting process, understand the key steps by loan documentation review and liaising with the designated analyst
- The Distressed loan closers are not restricted to Loan product and may settle other product classes where their expertise in physical settlement is required therefore there is scope to facilitate the settlement of a trade in a new product class if documentation is required including Notes and Equity
- Ensure timely/efficient and accurate settlement of Secondary Distressed transactions. The closing group significantly impacts the reputation of the firm and the franchise of the desk, as this a client facing business.
- Engagement in all aspects of pre-trade and post-trade queries.
- Undertake complex settlement issues/problems where no prior experience has been gained by the individual or the group
- Liaise with internal and external legal counsel and senior staff in the trading business.
- Ensure all aspects of the settlement have been considered and completed, inclusive of transfer of security.
- Arrange and attend meetings with Front Office and Middle office personnel to ensure issues are addressed
- Proactively provide guidance to clients and business areas
- Management of individual loan portfolio of Secondary Distressed trades.

Experience required of the Distressed Secondary Loan Closer:

- Comprehensive understanding of the Loan Market Association Term and Conditions / User Guide and Standard doc for settlement.
- A good working knowledge of LMA and LSTA
- Understanding of common market practices that may not be covered in industry standards
- Good understanding of the market and requirements across jurisdictions to settle trades.
- Exposure to Clearpar/Markit
- Previous exposure to Claims beneficial
- Par and Distressed Closing (Bank debt) experience with an understanding of how the Transaction Security documents work
- Experience on Restructurings essential
- Corporate actions experience