Secondary Loan Trading Distressed Closer

This role is in the Secondary Loans Trading Operations team within Markets Operations, located at 8 Canada Square, Canary Wharf. The SLT Ops team provides post-trade support to the Private Credit desk (Trading and Sales), part of GBM Global Debt Markets. The Operations team undertakes Closing, Middle Office duties, and Settlement & Servicing processes for Secondary Loan trades. Segregation from the Private Credit Trading function is critical to provide independent trade booking, checks, and controls over trade confirmations, transfer certificates, and back-office system entries.

The Distressed Closer is responsible for a timely closing of Claims, Distressed, and all offline traded secondary loan trades, liaising with internal and external legal counsel and counterparts. Efficient closing using knowledge to minimize the bank's risks is essential. A working knowledge of Distressed and Claims trading, LMA, and LSTA documentation and procedures is required. This role requires proactive engagement with internal and external stakeholders, strong communication skills, and the ability to independently identify efficiency / STP opportunities. It also necessitates an awareness of the Industry/Regulatory improvements within the Loans market and their impact on day-to-day processes. A strong risk focus and maintaining a robust control environment is essential.

In this role you will be:

• Managing a portfolio of traded loans, covering LMA, LSTA Par, Distressed, and Claims trades.
• Ensuring that all documentation satisfies procedural and audit requirements in respect of LSTA and LMA PAR, Claims, and distressed trading.
• Liaising with Legal internal/external, providing feedback on Distressed and Claims traded documents, and following trade life cycle from trade to settlement.
• Updating Trades in the bank's systems SENTRY and Loan IQ in accordance with bank procedures to accurately reflect purchase or sale risk and P&L accounting requirements.
• Resolving long outstanding trades and taking action to actively close.
• Responding to all queries, both internal and external, in a timely manner, seeking guidance where required.
• Maintaining close liaison with Sales, Trading and Closing teams, Legal and Agents to ensure smooth processing of trade transactions.
• Supporting the SLT Settlements team through project work to improve processes, procedures, and systems operated within the team.
• Controlling Inventory, ensuring time-critical deadlines are achieved and highlighting any bottlenecks to traders.
• Maintaining a professional approach towards clients, internal and external, assisting as required.
• Ensuring trades can be settled quickly and efficiently, including the use of multi-lateral netting docs where possible.

To be successful in this role you should meet the following requirements:

• Excellent product knowledge and relevant experience for Distressed Loans business, particularly Distressed and Claims trading.
• Experience working on offline trades, as well as ClearPar and LoanIQ systems.
• Excellent communication, negotiation, and time management skills.
• An excellent understanding of Front-to-Back Operational processes (Middle Office, Confirmations, Settlements).
• Excellent written and oral communication skills with a focus on attention to detail and ability to prioritize appropriately.
• Prior and current understanding and experience of regulatory initiatives and programmes of change.
• Control-focused with strong awareness of Operational Risk, supporting the Front to Back Office.
• Strong focus on root cause analysis with the aim of driving process improvement and collaboration with virtual teams.

This role is based in London.

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package, including private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - regardless of gender, ethnicity, disability, religion, sexual orientation, or age. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long-term conditions, or neurodivergent candidates who meet the minimum criteria for the role. If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk.