Job Description:
Job Title: Loan Operations Specialist / Senior Loan Closer
Corporate Title: Vice President
Location: London
Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
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Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will provide you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.
Role Description:
The EMEA Loan Documentation Team sits within Global Market Loan Operations and is based in London. The team primarily supports the Global Credit Business located in London and Hong Kong for all loans, claims and private equity trades that require documentation, taking responsibility for trade closing through to settlement. The Global Credit Business will typically trade loans on Par and Distressed documentation on both LMA and LSTA terms and conditions, as well as bespoke terms. As well as Global Credit the Loan Documentation Team also provides support to Leverage Finance Desk in the support and coordination of Primary sell downs.
Responsibilities:
- Ability to self-manage a portfolio of cross desk trades across different product lines.
- Responsible for preparing, negotiating and agreeing loan trade documentation with the trading desk, Legal and clients. Typically this will be on LMA & LSTA trading terms and conditions.
- Comprehensive and extensive review of documentation to ensure compliance with transfer, tax, legal eligibility criteria.
- Managing par and distressed asset inventory and coordinating trade settlement with external counterparties.
- Extensive client interaction (both internal and external), managing expectations for trade settlement.
- Responsible for ensuring transactions are completed within a timely manner.
- Involvement with departmental project work, including system platform enhancements and process review.
- Manage, annotate, report and escalate all exceptions to senior management, line of business and business supervisory.
- Work closely with other internal and external teams: Loan Servicing, Loan Settlements, Loan Corporate Actions, Legal, Compliance, Tax and Agent Banks
What we are looking for:
- A good level of understanding of the secondary loan trading market and the forms of documentation used including Loan Market Association guidelines familiarity.
- Excellent verbal and written communication skills with good attention to detail.
- Client facing experience and ability to conduct discussions with clients in a confident manner.
- Risk focussed and able to identify issues and escalate to management.
- Work well in a team environment and maintain focus to achieve the goals of the team and the business.
- Ability to interact positively and effectively with all levels of management and associates.
- Excellent prioritisation and organisational skills.
- Ability to work under pressure and to tight deadlines.
- Self-motivated and willing to take on extended responsibility.
Skills that will help:
- Microsoft Office Skills: Excel, Word, Outlook
- Experience with ClearPar
- Legal background or handling of legal documents
Benefits of working at Bank of America
- Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
- Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
- 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum
- The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc
- Use of a flex fund to use towards benefits
- Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
- Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
- Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland's most iconic cultural institutions
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area
Bank of America
Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.