Description
This role is responsible for ensuring all aspects of bank debt/leveraged loans operations/finance are completed, transactions are processed on time, exceptions are resolved proactively.
As a Loan Operations Specialist, you will cover end-to-end servicing of Bank Loan Assets, including trade instruction capture, settlement, fail management, cash instruction capture, reconciliations, asset servicing, instruction capture, and lifecycle management of bank loans.
Key responsibilities include:
- Basic understanding of loan or deal administration functions
- Oversight of bank loans life cycle events, including paydown/drawdown, interest rate resets, PIK interest calculations, delayed comp accruals/calculation & trade settlements
- Ability to interpret credit agreements and related documentation
- Work across teams to resolve queries and issues
- Ability to create new procedures, workflows, and build controls
- Assist in testing and implementation of systems and system improvements as required
To be successful in this role, you will need:
- A bachelor's degree in finance, accounting, or economics
- Detailed knowledge of the bank debt asset class, including primary and secondary market trading, with some exposure to loan closing preferred
- Strategic problem-solving skills with a consistent track record
- 7+ years of direct experience in loan operations, with exposure to distressed loans required
- Knowledge of LSTA/LMA standard documents and exposure to EUR loans
- Knowledge of SS&C Geneva and Murex, with exposure to Wall Street Office and ClearPar preferred
- Bloomberg is required
- Knowledge of TRS products is a plus
- Strong understanding of accounting principles, specifically how bank debt transactions impact financial documents
- Strong organisational skills with the ability to set priorities and handle multiple projects
- Strong analytical skills
- Superior communication skills
The estimated base salary range for this position is $160,000 to $250,000, which is specific to New York and may change in the future. Millennium pays a total compensation package, which includes a base salary, discretionary performance bonus, and a comprehensive benefits package.