Description
The secondary loan trading operations team provides Back Office support for the Loan Sales and Trading team within Credit Trading.
The Closer is responsible for a timely closing of Claims, Distressed and PAR traded secondary loans trades. Liaising with internal and external legal counsel and counterparts. Efficient closing using knowledge to minimize the banks risks. Working knowledge of Distressed and Claims trading.
Responsibilities
- Manage a portfolio of traded loans trades control managing inventory for the purpose of FOBO reconciliations
- Ensuring that all queries both internal and external are responded to in a timely manner, seeking guidance where required.
- Close liaison with the Sales, Trading and Closing teams and Agents to ensure the smooth processing of transactions.
- Completion of operational processing in a timely and cost effective manner, ensuring time critical deadlines are achieved and highlighting any bottlenecks or closing to traders
- Ensuring that all documentation satisfies procedural and audit requirements in respect of LMA par, Claims and distressed trading.
- Liaison with Legal internal/external giving feedback on Distressed and Claims traded documents
- Ensuring that Trades are updated in banks systems SENTRY, and Loan IQ accordance with banks procedures to accurately reflect purchase or sale PnL accounting requirements.
- Resolution of long outstanding trades, taking action to actively close
- Support the SLT team through project work as allocated to improve processes, procedures and systems operated within the team.
Management of Risk (Operational Risk/FIM requirements)
- 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 (Compliance Policy/FIM requirements)
- 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.
Headcount reporting to this role
Direct:
0
Indirect:
0
Total:0
Knowledge & Experience/Qualifications (For the role - not the role holder. Minimum requirements of the role.)
- Previous SLT Distressed and Claims Closing experience is a significant advantage for the roleas would be legal understanding of documents.
- Knowledge of Clear par, Loan IQ, Intralinks, Debtdomain, Sentry, Excel, and LMA documentation,
- Strong communication skills to deal with both internal and external clients, including Front Office trading staff, Legal & CMP.
- Strong organisational skills and the ability to prioritise work, to ensure transaction deadlines are achieved.
- Pro-active problem solving attitude.
- Able to deliver high work standards under pressure.