Trade & Processing Specialist
UBS
UBS is currently seeking an experienced loan trade closer in the Trade Execution team within the broader Global Loan Servicing (GLS) Operations team. The Loan Closer is responsible for the timely and accurate closing of Secondary Par, Primary, & Third Party loan trades. The Trade Closer works closely with our outsourced vendor S&P, Business/Trading desk, trade counterparties, and Agents to ensure the timely and accurate settlement of our loan trades. The Loan Closer also works with internal teams including Onboarding, Finance, Payments, and Tax to remediate issues delaying settlements and break resolution.
Required Experience:
-Familiar with LSTA / LMA standard documents and concepts including trade confirms, assignment agreements, funding memos, participation agreements, multilateral agreements, claims, proceeds letters, payout letters
-Ensure trade economics and delayed comp, cost of carry, and fees are correct
-Knowledge of Distressed Settlement / Trade Claims / Bankruptcy Distributions
-Work closely with S&P / Clearpar Closers on trade settlement, ensuring trade activity and settlements are processed accurately and timely
-Daily reconciliation and management of cash, position, intersystem, trade and ledger breaks
-Partner with internal stakeholders including Traders, Sales, Bankers, Finance and various operational teams including Tax, Onboarding, & Payments to settle loan trades
-Familiar with amendments processing including cashless rolls, Extensions, Waivers, Consents
-Assist with KYC & Tax with any issues and escalations
-Coordinating LC issuer consent
-Familiar with BWIC, OWIC, BISO agreements and processing
-Familiar with sub-participation documentation and processing
-Identify and escalate issues and pro-actively look for ways to improve processes and controls
-Perform ad-hoc projects and support team members
Detailed salary information:
• New York: the salary range for this role is $108000 to $133000
The expected salary range(s) for this role as of the date of this posting is/are based on factors including, but not limited to, experience, qualifications, education, location and skill level. This role may also be eligible for discretionary incentive compensation. For benefits information, please visit ubs.com/usbenefits.
Required Experience:
-Familiar with LSTA / LMA standard documents and concepts including trade confirms, assignment agreements, funding memos, participation agreements, multilateral agreements, claims, proceeds letters, payout letters
-Ensure trade economics and delayed comp, cost of carry, and fees are correct
-Knowledge of Distressed Settlement / Trade Claims / Bankruptcy Distributions
-Work closely with S&P / Clearpar Closers on trade settlement, ensuring trade activity and settlements are processed accurately and timely
-Daily reconciliation and management of cash, position, intersystem, trade and ledger breaks
-Partner with internal stakeholders including Traders, Sales, Bankers, Finance and various operational teams including Tax, Onboarding, & Payments to settle loan trades
-Familiar with amendments processing including cashless rolls, Extensions, Waivers, Consents
-Assist with KYC & Tax with any issues and escalations
-Coordinating LC issuer consent
-Familiar with BWIC, OWIC, BISO agreements and processing
-Familiar with sub-participation documentation and processing
-Identify and escalate issues and pro-actively look for ways to improve processes and controls
-Perform ad-hoc projects and support team members
Detailed salary information:
• New York: the salary range for this role is $108000 to $133000
The expected salary range(s) for this role as of the date of this posting is/are based on factors including, but not limited to, experience, qualifications, education, location and skill level. This role may also be eligible for discretionary incentive compensation. For benefits information, please visit ubs.com/usbenefits.
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