At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.
We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.
Title: Senior Associate, US Bank Loan Settlements
Business Unit: Loan Closing
Location: Charlotte, NC
Barings is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe, and Asia Pacific.
Job Summary
Responsible for managing the full trade settlement lifecycle of an allocated set of Loan names on a timely and accurate basis, ensuring related activities (e.g. cash management) are conducted effectively.
Primary Responsibilities
- Review and understand LSTA par/distressed standard documentation such as Trade confirmations, Assignment Agreements, Participation agreements, Multilateral agreements, Pricing letters etc.
- Review and understand Credit Agreements and the clauses pertaining to transfers
- Effect trade settlements using ClearPar, in order to ensure accuracy of LMA/LSTA documentation and calculation of trade proceeds
- Handle “off-line” settlements following prescribed workflows
- Calculate trade related formulas, such as delayed compensation, cost of carry and economic benefit
- Target closing trades ahead of the LMA/LSTA standards for settlement time
- Monitoring/tracking/reporting of all trades using appropriate workflow tools
- Identifying and escalating issues to traders, in house legal and compliance teams as well as management
- Co-ordinate settlement efforts with internal teams incl. Legal, Compliance, Finance, UK Loan Closing, FX and Middle Office teams as required
- Liaise with Administrative Agents with regards to KYC documentation, including administrative details, tax and fund formation documents
- Develop network of effective relationships with Counterparties and Agents
- Identify process efficiencies and marginal gain opportunities for the team.
- Assist line management with initiatives and projects as required
Qualifications
- Loan closing experience in loan settlements and 3-5 years experience in finance or banking industry
- Knowledge of loan settlements across multiple jurisdictions would be a preference but not essential
- Good knowledge of loan transfer documentation
- Numerate with high attention to detail
- Clear and confident communicator, both verbally and written
- Proactive and ability to work with minimum supervision (post training);
- Ability to work to tight deadlines and flexible to meet personal and team workload
- Previous knowledge of ClearPar, WSO and other Loan market systems would be a preference but not essential
- A methodical thinker, able to resolve complex issues on a daily basis
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Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.
Barings offers a comprehensive benefits package including:
CORE BENEFITS & WELLNESS
- Medical (including Virtual Care), Prescription, Dental, and Vision Coverage
- Fitness Center Reimbursement Program (Including Online Memberships)
- Employee Assistance Program (EAP)
- Fertility Benefits
FINANCIAL WELL-BEING
- Highly competitive 401(k) Plan with Company Match
- Health Savings Account (HSA) with Company Contributions
- Flexible Spending Accounts (FSA) - Health Care & Dependent Care
- Retirement Health Reimbursement Account
LIFE INSURANCE
- Basic and Supplemental Life Insurance
- Spouse and Child Life Insurance
TIME OFF, DISABILITY AND LEAVE OF ABSENCE
- Paid Vacation, Sick Days and Annual Holidays
- Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time)
- Short and Long Term Disability Plans
- Paid Volunteer Time
OTHER BENEFITS
- Education Assistance Program
- Charitable Matching Gifts Program
- Commuter Reimbursement Program
- Adoption and Surrogacy Reimbursement Program
