Primary Loan Closer

Job description

Role Title: Primary Loan Trading Closer

Business: Operations

New or Existing Role? New

Grade: GCB5

Role Purpose

· The primary loan trading operations team provides back office support for the Loan Syndicate team within LAF (Leveraged and Acquisition Finance)
· The Closer is responsible for a timely closing of all primary loans trades. Liaising with internal teams (loan syndicate, legal execution, KYC, Agency)) and external legal counsel and counterparts. Efficient closing using knowledge to clear the banks settlement risk. Working knowledge of ClearPar, LMA and LSTA documentation and procedures

Key Accountabilities

· Manage the full portfolio of primary leveraged loans covering LMA, LSTA Par, trades

· Ensuring that all documentation satisfies procedural and audit requirements in respect of LSTA and LMA PAR trading
· Liaison with Legal internal/external in executing transfer certificates and pricing letters/funding memos, following the trade life cycle from allocation to settlement
· Collecting sub-allocations from all lending fund managers, and ensuring these entities are KYC'ed ahead of settlement via CTLA or middle office as appropriate
· Executing transfer certificates/assignment agreements with investors to settle primary allocations either via ClearPar system or paper documentation
· Where HSBC is Agent, the Closer will also be responsible for settlement of back-to-back transfer positions with all parties on deals with multiple underwriting banks, and updating each party on their settlement position periodically
· Ensuring that Trades are updated in banks systems SENTRY, and Loan IQ in accordance with banks procedures to accurately reflect underwriting exposure outstanding to settle
· Resolution of long outstanding trades, taking action to actively close

· Ensuring that all queries both internal and external are responded to in a timely manner, seeking guidance where required.

· Close liaison with the Legal and Agents to ensure the smooth processing of trade transactions.

· Support the loan settlements team through project work as allocated to improve processes, procedures and systems operated within the team.
· Control of Inventory, ensuring time critical deadlines are achieved and highlighting any bottlenecks or closing to all internal stakeholders.
· Maintain professional approach towards clients internal and external, assisting as and when required
· Ensure trades can be settled quickly and efficiently including use of multi-lateral netting docs where possible.

Role Dimensions

· The jobholder forms part of the loan operations team

Management of Risk

· Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.

Observation of Internal Controls

· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

· Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

Desired profile

Qualifications :

· Previous loan closing experience is a significant advantage for the role as would be legal understanding of documentation.

· Knowledge of Clear par, Loan IQ, SENTRY, Debt domain, Excel, and LSTA and LMA documentation,

· Strong communication skills to deal with both internal and external clients, including front office staff, Agency, legal execution.

· Strong organisational skills and the ability to prioritise work, to ensure transaction deadlines are achieved.

· Pro-active problem solving attitude.

·  Able to deliver high accuracy and volume of work to excellent standards under pressure.

Within HSBC certain roles are designated as Enhanced Vetting Roles. For these roles, all internal and external applicants are required (subject to local laws), to pass satisfactorily a series of additional checks both as part of the application process and, if successfully recruited into the Enhanced Vetting role, on an on-going basis. The Group reserves its position with regard to any steps which it may take in relation to any material adverse findings which arise either when the checks are first carried out as part of this recruitment exercise, and/or if relevant, on an ongoing basis.
This role has been designated as an Enhanced Vetting Role.

For more information about the relevant additional checks for this role please contact the hiring manager.

We are an equal opportunity employer and are committed to creating a diverse environment.