Loan Trade Settlement Specialist

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Regular or Temporary:

Regular

Language Fluency:  English (Required)

Work Shift:

1st shift (United States of America)

Please review the following job description:

Provides operational support to various trading desks by processing trade settlements for primary and secondary loan trades. Works with clients, counterparties, agents, vendors, loan trading desks and legal to coordinate trade closings.

This role is responsible for providing product and/or processing expertise within Derivative Trading, Securities Trading, Loan Trading or Agency Services Lines of Business within Capital Markets Operations. Major responsibilities include working on and providing guidance on core operational tasks including Client On-Boarding, Trade Capture, Securities Settlement and Clearance, Confirmations, Client Support or Margin/Collateral processing. This role requires the ability to work in a fast paced environment, multi task with strong communication skills, and to effectively work alongside and communicate with external clients as well as Technology, Compliance, Risk, Legal, Sales and Trading internal partners.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Following is a summary of the essential functions for this job.  Other duties may be performed, both major and minor, which are not mentioned below.  Specific activities may change from time to time. 

1. Manage life cycle of loan trades from initiation to settlement.  Review of legal documentation:  Trade confirmations, Assignment Agreements, Participation Agreements and Funding Memos.

2. Coordinate and communicate effectively with trading desks, counterparties, agents, borrowers, other agency services teammates to close trades and to resolve trade settlement issues.

3. Understands and adheres to the LSTA guidelines for loan settlements.  (i.e. Delayed compensation and how it affects the loan settlements.)  Ability to draft manual trade documents, including funding memos as needed.

4. Able to identify and flag any potential risks and communicate proactively and effectively with all parties to the trade, both internal and externally.

5. Ability to multitask and prioritize responsibilities to complete accurate and timely settlement of trades including reconciliation and governance of trade fails and breaks.

6. Performs checks and balances with ClearPar and Loan IQ to ensure proper recording of position transfers and funding.

7. Work within the team and across the firm to resolve issues and meet deadlines:  specifically with Sales/Trading, Accounting, Agency Services and other internal lines of business on issues regarding P&L and positions reconcilement.

8. Work closely with the loan onboarding team to ensure that all parties are properly KYC’d and Loan IQ system is properly updated with counterparty/lender information in Loan IQ.

9. Works closely with the syndicate desk for new deals or amendments to ensure that all information is received timely and to create the build within ClearPar.

QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1. BS/BA Degree, or equivalent education 

2. Thorough Understanding of Microsoft Office software, especially Excel

3. Knowledge of brokerage systems or operations

4. In-depth knowledge of financial industry, products, and regulatory environment

5. Knowledge of syndicated loan market:  par and distressed loans documentation

6. Ability to read and interpret credit agreements, as it pertains to loan settlements

7. Detailed-oriented person with the ability to multi-task and work in a fast-paced environment

8. Excellent verbal and written communications skills.

9. Excellent interpersonal, time management and problem solving skills

Preferred Qualifications:

1. Working knowledge of Loan IQ and ClearPar systems, including ability to book trades in ClearPar and Loan IQ

2. Trade closing and/or trading desk experience

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.

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