About this role:
Wells Fargo is seeking a trade closer to join our Leveraged Credit team. The trade closer will be responsible for managing the settlement process of a portfolio of par and distressed trades on credit products such as loans, bonds, reorganized equity and claims.
In this role, you will:
- Effectively manage a portfolio of par and distressed trades on credit products including loans, bonds, reorganized equity and claims
- Successfully monitor the flow of trades from trade date to settle date including preparing, reviewing, and confirming required documentation within the guidelines of The Loan Syndications and Trading Association
- Work closely with traders, sales and research to identify and understand the specifics of the loans traded.
- Confirm desk positions, monitor exposures of counterparty credit limits, and verify KYC/AML/Tax onboarding requirements for all customers
- Create and maintain relationships with trading counterparts, external legal counsel, administrative agents and many Wells Fargo support partners
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- 2+ years of securities loan trading closers experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- 3+ years loan experience with a background of trade closing, middle or back office support and with LoanIQ and Clearpar (Markit) knowledge
- 1+ years of Syndicated Loan Administrative Agent Experience
- Experience servicing CLO Portfolios or familiarity with Total Return Swaps
- Knowledge of the loan market specifically the settlement process
- Knowledge of credit products (loans and securities) closing procedures and documents
- Intermediate Microsoft Office skills
- Effective organizational, multi-tasking, and prioritizing skills
- Excellent verbal, written, and interpersonal communication skills
- Strong technical and analytical skills including financial analysis
- A bachelor's degree or higher in business administration, economics, finance, or related field
- Registration for FINRA Security Industry Essentials (SIE) must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
- Registration for FINRA Series 7 must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
- Registration for FINRA Series 63 (or 66) must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
21 Apr 2025
*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
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