JOB DESCRIPTION
CLO Associate/Loan Closer Job Description-1-4 years
- Manage day to day activity of CLO warehouses. Communicate trade flow between fund managers and TRS provider. Communicate/fix discrepancies.
- Enter/close CLO warehouse trades in LIQ to track positions
- Interpret warehouse legal documents to properly track life cycle of warehouse
- Tie out warehouse economics with CLO fund managers.
- Ability to manage the trade portfolio, across multiple business lines, following all trades from Trade Date to Settlement whilst maintaining a clean open trade aging profile and driving reduced settlement times
- Ensuring all new trades and fund allocations are added and set up in our internal systems
- Drafting of Loan Trade Closing documentation – including Trade Confirmations, Transfer Documents, Pricing Letters (amongst others) when not closing via electronic platform
- Coordinating with Trader, sales and Legal (internal and external) on proposed changes to Trade documents
- Identifying and escalating issues to the front office traders/ sales, in-house legal counsel, compliance, and management when necessary
- Working directly with clients, internal partners and external Agents to resolve issues and ensure smooth closing of all trades.
- Prepare and review settlement calculations including delayed compensation, cost of carry and benefit of commitment reductions
- Co-ordination and timely solution of any post trade settlement cash queries with Internal and external Clients.
- Responsible for waiver and amendment monitoring for credits across portfolio and action them with internal stakeholders when necessary, including bankruptcy and restructurings
- Working on internal projects and initiatives designed to improve automation and strengthen the team's control environment across our global franchise.
- Assisting the Sales Desk on requests to onboard new Counterparties as needed when it is determined a new counterparty is being executed with. This includes confirming with Client and Account onboarding services that all relevant systems have been updated.
- Assisting the Trading Desk in coordinating between the various support teams to ensure that New Deals and Facilities are setup correctly and linked through the appropriate Identifiers. This includes ensuring the Trade Capture, internal Settlement Platform (LoanIQ), and Electronic Settlement Platform (Clearpar) are mapped correctly from the start.
- Create new shell deals/facilities in internal Settlement Platform (LoanIQ), when necessary.
- Managing exceptions that come out of daily system reconciliation that highlight where is there is discrepancy between internal systems and electronic settlement platform (Clearpar). This includes both Counterparty and Facility identifier exceptions that are required to maintain Straight Through Processing between Trade Capture and Settlement platforms.
- Assisting the Secondary Loan Closers as they identify or respond to discrepancies identified by Counterparties during the normal course of business as it relates to Counterparty and Facility Identifier mapping. This includes errors that need to be communicated to the Sales & Trading Desk, for their correction through a Cancel & Correct (CnC) or a static data issue that needs to be corrected through the relevant Client Onboarding/Security Master team.
Skills Required
- Knowledge of Loan IQ, and ClearPar would be beneficial.
- Knowledge of information wall barriers preferred.
- Strong PC skills Excel, Word and PowerPoint
- Excellent oral and written communication skills
- Self-motivation with tangible examples of demonstrating drive and initiative
- Demonstrate they are a detail orientated individual that can multitask efficiently under pressure in a fast-paced environment
- Must be able to resolve issues daily
- Must have excellent client service skills with both internal and external clients
- humble and honest team player and a partner to all internal stakeholder across our global firm
The salary range for this role is $100,000-$120,000.
About Us
Jefferies Financial Group Inc. (‘‘Jefferies,’’ ‘‘we,’’ ‘‘us’’ or ‘‘our’’) is a U.S.-headquartered global full service, integrated investment banking and securities firm. Our largest subsidiary, Jefferies LLC, a U.S. broker-dealer, was founded in the U.S. in 1962 and our first international operating subsidiary, Jefferies International Limited, a U.K. broker-dealer, was established in the U.K. in 1986. Our strategy focuses on continuing to build out our investment banking effort, enhancing our capital markets businesses and further developing our Leucadia Asset Management alternative asset management platform. We offer deep sector expertise across a full range of products and services in investment banking, equities, fixed income, asset and wealth management in the Americas, Europe and the Middle East and Asia.
At Jefferies, we believe that diversity fosters creativity, innovation and thought leadership through the infusion of new ideas and perspectives. We have made a commitment to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.
Jefferies is an equal employment opportunity employer, and takes affirmative action to ensure that all qualified applicants will receive consideration for employment without regard to race, creed, color, national origin, ancestry, religion, gender, pregnancy, age, physical or mental disability, marital status, sexual orientation, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law
ABOUT US
Jefferies Financial Group Inc. (‘‘Jefferies,’’ ‘‘we,’’ ‘‘us’’ or ‘‘our’’) is a U.S.-headquartered global full service, integrated investment banking and securities firm. Our largest subsidiary, Jefferies LLC, a U.S. broker-dealer, was founded in the U.S. in 1962 and our first international operating subsidiary, Jefferies International Limited, a U.K. broker-dealer, was established in the U.K. in 1986. Our strategy focuses on continuing to build out our investment banking effort, enhancing our capital markets businesses and further developing our Leucadia Asset Management alternative asset management platform. We offer deep sector expertise across a full range of products and services in investment banking, equities, fixed income, asset and wealth management in the Americas, Europe and the Middle East and Asia.
At Jefferies, we believe that diversity fosters creativity, innovation and thought leadership through the infusion of new ideas and perspectives. We have made a commitment to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.
Jefferies is committed to creating and sustaining a diverse workforce and encourages applicants from all backgrounds to apply. This includes applicants from historically underrepresented groups, including women, racial and ethnic minorities, members of the LGBTQ+ community, military veterans, and individuals with disabilities or who are neurodiverse.
Jefferies is an equal employment opportunity employer, and takes affirmative action to ensure that all qualified applicants will receive consideration for employment without regard to race, creed, color, national origin, ancestry, religion, gender, pregnancy, age, physical or mental disability, marital status, sexual orientation, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law.
The salary offered will take into consideration an individual’s experience level and qualifications. In addition to salary, Jefferies Financial Group is proud to offer a comprehensive benefits package to eligible, full-time employees or part- time employees, who are scheduled to work at least 30 hours or more per week, including an annual discretionary incentive and retention bonus, competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Jefferies also offers paid time off packages that include planned time off (e.g., vacation), unplanned time off (e.g., sick leave), and paid holidays, and for full time employees, paid parental leave.
