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- Tasks: Manage the full trade settlement lifecycle for loans, ensuring accuracy and timely execution.
- Company: Join Barings, a company that values integrity and invests in its associates.
- Benefits: Enjoy a collaborative work environment with opportunities for personal and professional growth.
- Why this job: Be part of a dynamic team, enhancing your finance skills while making a real impact.
- Qualifications: 1-2 years in finance preferred; strong communication and attention to detail are key.
- Other info: Open to all applicants; we celebrate diversity and inclusion.
The predicted salary is between 36000 - 60000 £ per year.
Loan Closer – UK Bank Loan Settlements Team
Loan Closer – UK Bank Loan Settlements Team
Location: London, United Kingdom
Time Type: Full time
Posted On: Posted 2 Days Ago
Job Requisition ID: JR_005849
At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.
Overall Purpose of Role: Responsible for managing the full trade settlement lifecycle of an allocated set of Loan names on a timely and accurate basis, ensuring related activities (e.g. cash management) are conducted effectively.
Principal Responsibilities:
- Review and understand LMA / LSTA par/distressed standard documentation such as Trade confirmations, Transfer Certificates / Assignment Agreements, Participation agreements, Multilateral agreements, Pricing letters etc.
- Review and understand Credit Agreements and the clauses pertaining to transfers.
- Effect trade settlements using ClearPar, in order to ensure accuracy of LMA / LSTA documentation and calculation of trade proceeds.
- Handle “off-line” settlements following prescribed workflows.
- Calculate trade related formulas, such as delayed compensation, cost of carry and economic benefit.
- Target closing trades ahead of the LMA / LSTA standards for settlement time.
- Monitoring/tracking/reporting of all trades using appropriate workflow tools.
- Identifying and escalating issues to traders, in house legal and compliance teams as well as management.
- Co-ordinate settlement efforts with internal teams including Legal, Compliance, Finance, US Loan Closing, FX and Middle Office teams as required.
- Liaise with Administrative Agents with regards to KYC documentation, including administrative details, tax and fund formation documents.
- Develop network of effective relationships with Counterparties and Agents.
- Identify process efficiencies and marginal gain opportunities for the team.
- Assist line management with initiatives and projects as required.
Person Specification (Skills, Knowledge & Experience):
- 1-2 years experience in finance or banking industry ideally. Some Bank Loan settlement experience would be beneficial but not essential.
- Numerate with high attention to detail.
- Clear and confident communicator, both verbally and written.
- Proactive and ability to work with minimum supervision (post training).
- Ability to work to tight deadlines and flexible to meet personal and team workload.
- Previous knowledge of ClearPar, WSO and other Loan market systems would be a preference but not essential.
- A methodical thinker, able to resolve complex issues on a daily basis.
Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.
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Loan Closer – UK Bank Loan Settlements Team employer: Barings LLC
Contact Detail:
Barings LLC Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Loan Closer – UK Bank Loan Settlements Team
✨Tip Number 1
Familiarize yourself with LMA and LSTA documentation. Understanding these documents will not only help you in the interview but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the banking and finance industry. Building relationships can provide insights into the company culture and may even lead to referrals.
✨Tip Number 3
Brush up on your knowledge of trade settlement processes, especially using systems like ClearPar. This will show that you're proactive and ready to hit the ground running.
✨Tip Number 4
Prepare to discuss how you've handled tight deadlines in the past. The ability to work under pressure is crucial for this role, so have specific examples ready.
We think you need these skills to ace Loan Closer – UK Bank Loan Settlements Team
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Loan Closer position. Highlight key responsibilities and required skills, and think about how your experience aligns with them.
Tailor Your CV: Customize your CV to reflect relevant experience in finance or banking, especially any loan settlement experience. Emphasize your attention to detail and communication skills, as these are crucial for the role.
Craft a Strong Cover Letter: Write a cover letter that showcases your understanding of the loan settlement lifecycle and your ability to work under tight deadlines. Mention specific examples from your past experiences that demonstrate your proactive approach and problem-solving skills.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors. A clear and confident presentation is essential, so ensure that your documents are free from typos and grammatical mistakes.
How to prepare for a job interview at Barings LLC
✨Understand Loan Documentation
Make sure you familiarize yourself with LMA and LSTA documentation, including trade confirmations and credit agreements. Being able to discuss these documents confidently will show your understanding of the role.
✨Demonstrate Attention to Detail
Since this role requires high attention to detail, prepare examples from your past experiences where your meticulousness made a difference. Highlight any instances where you caught errors or improved processes.
✨Showcase Communication Skills
As a Loan Closer, you'll need to communicate effectively with various teams. Practice articulating your thoughts clearly and concisely, both verbally and in writing, to demonstrate your communication prowess.
✨Prepare for Problem-Solving Questions
Expect questions that assess your ability to resolve complex issues. Think of scenarios where you successfully navigated challenges in previous roles, and be ready to explain your thought process.
