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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.
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.
We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.
Job Title: Loan Closer – UK Bank Loan Settlements Team
Corporate Title: Associate
Location: London
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.
- Monitor, track, and report all trades using appropriate workflow tools.
- Identify and escalate 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 regarding KYC documentation, including administrative details, tax and fund formation documents.
- Develop a 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
Contact Detail:
Barings 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 the LMA and LSTA documentation standards. 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, especially those who have experience in loan settlements. This can provide you with valuable insights and potentially lead to referrals.
✨Tip Number 3
Brush up on your numerical skills and attention to detail. Being able to showcase your ability to handle complex calculations and trade-related formulas will set you apart from other candidates.
✨Tip Number 4
Demonstrate your proactive approach during interviews by discussing past experiences where you identified process efficiencies or resolved complex issues. This will highlight your problem-solving skills and dedication to the team's success.
We think you need these skills to ace Loan Closer – UK Bank Loan Settlements Team
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Loan Closer position. Familiarize yourself with terms like LMA/LSTA documentation and trade settlements to demonstrate your knowledge in your application.
Tailor Your CV: Customize your CV to highlight relevant experience in finance or banking, especially any exposure to loan settlements. Emphasize your attention to detail, communication skills, and ability to work under tight deadlines.
Craft a Strong Cover Letter: Write a compelling cover letter that showcases your enthusiasm for the role and the company. Mention specific skills that align with the job description, such as your numeracy skills and proactive approach to problem-solving.
Proofread Your Application: Before submitting, carefully proofread your application materials. Ensure there are no grammatical errors and that your documents are clear and professional. A polished application reflects your attention to detail, which is crucial for this role.
How to prepare for a job interview at Barings
✨Understand the 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.
✨Showcase Your Communication Skills
As a Loan Closer, clear communication is key. Prepare examples of how you've effectively communicated in previous roles, especially in high-pressure situations or when coordinating with multiple teams.
✨Demonstrate Attention to Detail
Highlight your ability to manage complex calculations and trade settlements accurately. Bring examples of how your attention to detail has positively impacted your work in finance or banking.
✨Be Proactive and Solution-Oriented
Prepare to discuss instances where you've identified process efficiencies or resolved complex issues independently. This will demonstrate your proactive nature and problem-solving skills, which are crucial for this role.
