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Commercial Banking - Trade Support Specialist - Specialized Servicing Professional - Newark, DE

Req #: 180003561
Location: Newark, DE, US
Job Category: Operations
Potential Referral Amount: 0 US Dollar (USD)

Wholesale Loan Middle Office Overview:

The Wholesale Lending Services - Middle Office (WLS-MO) provides operational support globally to multiple different lines of business involved in loan origination and trading across both the Corporate & Investment Bank (CIB) and Commercial Bank (CB). Responsibilities of the WLS-MO include but are not limited to trade entry, trade closing, trade settlement, loan servicing and client service. The team covers a wide range of products, ranging from traditional bi-lateral and syndicated loans to structured instruments such as collateralized loan obligations and secured loans, as well as total return swaps, distressed debt, and bankruptcy claims. 
 
Specialized Servicing - Role Description:
The Specialized Servicing team sits within the Wholesale Loan Operations Middle Office and supports multiple lines of business (Credit Trading, Fixed Income Financing, Equity Derivatives, Global Emerging Markets) transacting in syndicated loans and related products (collateralized loan obligations, letters of credit, bankruptcy claims, secured lending arrangements, total return swaps), with a focus on those instruments that are complex and non-standard. The team is tasked with maintaining this diverse portfolio of assets throughout the transaction lifecycle, from origination through maturity and all stages in between. Included in this is operationally managing distressed trading activity, which can include distressed debt restructurings and distributions made post confirmation of the bankruptcy plan. The Specialized Servicing professional will work with various different groups/layers or the organization as part of their day-to-day responsibilities, including the Front Office, Finance, Credit, and Technology.   
 
Ongoing Responsibilities:
  • Support the servicing of complex and non-standard loan products that require extra diligence and critical thinking
  • Scripting and coordination of distressed debt restructurings
  • Manage post restructuring distributions (research, reconciliation, tracking, making claims and coordinating payments due to counterparties)
  • Maintain a pipeline of upcoming distressed debt restructurings
  • Participate in the New Business Initiative Approval process by attending calls and meetings with the respective business sponsors, making recommendations/providing comments on the operating model and feasibility of the proposal in question
  • Work closely with Financial and Product control to reconcile P&L discrepancies and guarantee accurate reflection of Front Office P&L
  • Action all scheduled and unscheduled loan activity on a daily basis.
  • Monitor and investigate cash and other exceptions such as past due loans, payable & receivable balances, and other items that pose financial risk to the firm
  • Respond to ad hoc queries from key business partners related to a broad range of topics (regulatory, risk, financial reporting)
  • Bachelor's degree in Finance or Business
  • Excellent communication and interpersonal skills
  • Self starter with the ability to excel working independently and as part of team
  • Proven ability to thrive in a fast-paced, deadline driven environment
  • Detail/control oriented
  • Ability to multi-task and efficiently prioritize workload
  • Strong problem solving, decision making, and analytical skills
  • Proficiency with Microsoft Office Suite (Excel, Word, and PowerPoint)
  • Desire to understand the “why” behind the “how”
  • Interest in financial markets
  • Prior knowledge of loan product or trading operations is desired
  • Knowledge of distressed debt, bankruptcy and restructurings a plus 
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