Senior Loan Operations Team Lead

Job Description:

Job Title: Senior Loan Operations Team Lead

Corporate Title: Up to VP

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.

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 give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Location Overview:

Based just a stone’s throw from the magnificent St. Paul’s Cathedral is our London MLFC office, on bustling King Edward Street. Here you will find modern workspaces and a state-of-the-art auditorium space. In addition, we are proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus that have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop gardens and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and onsite medical centre.

Role Description:

The Global Market Loans Operations team primarily supports the Global Credit Trading desk that sits within GBAM. The business is a strategic trading desk that trades syndicated corporate loans, distressed loans, claims, bonds, equities, CDS’s (amongst other products) on the secondary trading market. The Global Market Loan Operations team supports all aspects of Loan operational support for the Credit Trading desks located in London, Europe and Asia and the US. The Team also provides operational support to the Mortgages, Equity Structured Finance and Leveraged Finance business lines globally.

This role forms part of the wider Loan Operations Team which offers front to back support for Global Markets Loan Trading. The candidate will be responsible for management and development of the portfolio of reporting and reconciliation enhancements across the team through utilisation of data analytics tools. The successful candidate will have the opportunity to be a key part of growing, developing and honing the Loan Ops Strategic Operational Model Globally to meet and cater for future Business demands

Dynamic and fast-paced team where individuals and their ideas matter, exciting variation of daily tasks and responsibilities, extensive internal training, learning opportunities and guidance on the new role and career prospects offered by the firm.

Responsibilities:

• Responsible for the monitoring of a large secondary loan traded population utilising both LMA, LSTA and bespoke documentation.  The loan portfolio consists of Performing, non performing assets including claim positions, Bilaterals and sub-participations.
• Responsible for the agreement & payment of interest & repayments to the desks clients as sub participants as well as Lender of Record positions.  Including the reconciliation of liquidated positions and court disbursements.
• Work closely with the Corporate Actions team on Loan restructurings that impact desk and client positions.  Reviewing and understanding the amended documents to be able to apply the necessary changes in the SOR
• Liaise with other internal and external teams: Traders, Analysts, Loan Closing, Legal, Conflicts, Compliance and Tax, on complex, bespoke transactions
• Offer support to offshore partners on any issues and help to resolve breaks
• Support new transactions and ad-hoc requests from the Loan Trading and Origination desks
• Reviewing Loan documentation and working with Desk members to ensure all required documents are in place for settlement of Origination deals
• Responsible for the settlement of transactions in the Loans system of record ACBS, ensuring transfer fees, delayed comp and break funding are correctly recorded
• Work closely with operations subject matter experts globally to understand current state processes and coordinate effort to implement change

What we are looking for:

• Loan administration and Loan settlement knowledge
• Good level understanding of the secondary loan trading market beneficial
• Experience of working within back office systems
• Loan Market Association (LMA) guidelines familiarity
• Customer service excellence
• Team player conscious of the contribution they bring to the whole team
• The candidate would need to have prompt and detailed escalation practices instilled in them
• Good attention to detail and problem solving skills
• Self-motivated and willing to assume extended responsibility.

Skills that will help:

• Excellent prioritisation and organisational skills.
• Excellent verbal and written communication skills
• Competent user of Microsoft Office – including Word and Excel.

Benefits of working at Bank of America

UK

• 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 opportunity 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.