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AVP - Securities Services - Private Capital - Loan Portfolio Administrator

Last update 28.04.2024

Business Overview:

Securities Services is a leading global custodian and securities services specialist that provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers.

Loan Operations provides services across a variety of products, focusing primarily on the Collateral Debt Obligation and Loan Fund markets. We provide a premier account administration service for loan portfolios across a number of global clients.

Purpose of the role:

·       Lead and take ownership of the daily operational and oversight requirements of Loan Operations US. 

·       Provide oversight of Loan Solutions IOC Portugal’s service delivery and provision of Collateral Administration, change and client facing support locally.

·       Work closely with the Loan Solutions Managers to drive first class client service and to ensure that oversight and control are top priority in an evolving model to drive a service excellence culture.

·       Develop a strong working relationship with Staff and Team Leaders in IOC Portugal to ensure that the operating model remains efficient and effective.

·       Train and develop Loan Solutions Specialists and other Junior members of staff.

·       In the role, you will act as a combination of both the main and secondary US based client contact for a portfolio of clients and will be a main contact for Loan Solutions Portugal to ensure the service delivery is of a high standard. You will represent an escalation point in the event of urgent and unresolved issues.

Candidate Success Factors:

Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:

  • Results and Impact
    • Able to influence peers and team.
    • Demonstrates good judgement when making decisions of high complexity and impact.
    • Exercise appropriate autonomy in the execution and delivery of work.
    • Responsible for driving outcomes, which have meaningful effect on team or department.
  • Leadership and Collaboration:
    • Creates trust with colleagues.
    • Acts in leadership capacity for projects, processes, or programs.
  • Client, Customer and Stakeholder Focus:
    • Able to build relationships with a mix of colleagues and clients.
    • Interacts regularly with management and department leaders.
    • Demonstrates the ability to influence stakeholders at the team level.
  • Compliance Culture and Conduct:
    • Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
    • Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.

Responsibilities:

Loan Solutions Activity

·       Act as both main and secondary contacts for Client relationships on the Loan Solutions US service delivery across both Loan & Collateral Administrations platforms as required.

·       Oversee the service delivery completed in Loan Solutions Portugal, ensuring the service is of a high standard and on time, monitoring in accordance with SLA and prevailing governance.

·       Monitor and support operational and regulatory processes in the department to ensure that they are effectively carried out and coordinated within company procedures, guidelines and expectations. Recommend improvements where appropriate in line with best practice.

·       Work under general guidance from more senior staff referring more unusual and complex matters upwards for support when required.

·       Focus on providing analyses and interpreting results based on expertise and experience to help identify opportunities for improvements to the service that the Client Delivery team can provide to clients.

·       Deliver small-scale projects or well-defined tasks on major projects to improve operational support to clients.

·       Establish relationships to identify business and client requirements and provide appropriate support.

·       Completion and/or oversight checks of Loan Solutions service delivery

·       Manage any client queries or escalations ensuring appropriate actions are taken to resolve any service issues in a timely manner

·       Responsible for ensuring all client KPI’s and service delivery commitments are being met in accordance with client service level agreements.

·       Support junior level staff and working with colleagues and managers to contribute to enhancements, change controls and the on board of new business and service delivery.

·       Working with colleagues, management and internal stakeholders to support onboarding of new funds across the Loan Solutions product portfolio.

·       Monitor the ongoing production process and the effective utilization of resources.

·       Act on feedback from client reviews to maintain client satisfaction.

·       Oversight of local and IOC production activity.

·       Monitor team performance, identifying potential savings and improvements and escalating any issues as appropriate.

·       Set an example and promote a culture of delivery excellence within the team, encourage an environment of openness that welcomes effective challenge and supports open discussion.

·       Ensure the Loan Solutions Manager and others, as appropriate, are kept aware of all issues/problems/queries/work in progress that may impact the quality of service being given.

·       Adherence to bank policies and compliance requirements.

Compliance and Risk Management                     

·       Assist the Loan Solutions Manager to maintain policies, manage internal / external audits, and work collaboratively with the key stakeholders in the organisation.

·       Assist the team with technical development and regulatory change management activities.

·       Assist in dealing with technical queries from clients / auditors / internal stakeholders.

·       Monitor and communicate relevant updates to the team.

·       Support responses to requests in collaboration with Operational Risk and Control teams, ensuring timely and accurate communication and strong working relationships.

·       Work with the Loan Solutions Manager to develop a strategic approach to risk and compliance across the department.

·       Proactively review team processes to drive continuous improvement and efficiencies while also mitigating risks.

·       Develop a strong understanding of the obligations and service standards required under the client service level agreements and ensure appropriate protection of BNPP’s and clients’ interests.

·       Assist the Loan Solutions Manager in the periodic update of client service level agreements to ensure the service offered is accurately and appropriately reflect and to suitably protect the parties’ interests.

·       Ensure that procedures and checklists are in place and maintained on an appropriate basis.

·       Working with the Loan Solutions Manager to ensure complete, accurate and timely error reporting ensuring preventative actions are suitably implemented.

·       Work with the Loan Solutions Manager to identify training needs, and to develop and support training initiatives within the LDO US team as required.

Self-Management / Personal Development

·       Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.

·       Manage own time and activities effectively setting an example through good housekeeping and time management

·       Take responsibility for personal development and training.

·       Keep up to date with legislative and regulatory changes affecting the business.

·       Actively participate in the objectives and appraisal processes by completing a self-evaluation and suggesting appropriate development to ensure own effectiveness in a changing business context.

Key internal stakeholders:

·       IOCs Operations and management

·       Fund Accountants, internal and external

·       LSAT US Business Analysts

·       IT support/ ORC

·       Risk OPC

Key external key stakeholders:

·       Clients

·       Investors

·       Loan Agents

·       Auditors

·       Counterparties

·       Vendors /system providers


Minimum Required Qualifications:

·       Prior experience of loan administration and good understanding of the loans market, and in particular bi-lateral loans, syndicated loans, loan funds including direct-lending.

·       Good working knowledge of a wide range of BNPP Client Delivery policies, procedures, regulations and legislation.

·       Good people management skills and an ability to work with individuals to set individual objectives and manage performance to ensure their delivery.

·       Excellent written and oral English skills in order to articulate technical issues and to be able to take the complex and make simple to enable effective communication with individuals across the business.

·       Computer literacy and a good understanding of relevant software.

·       Cash and asset reconciliation experience

·       Understanding of loan trade documentation, credit agreement, transfer certificates, pricing letters/ funding memos etc.

·       Ability to read, understand, and interpret legal documentation, such as Offering Circulars, Facilities Agreements etc.

·       Strong team player who shows initiative, accountability, and is able to self-motivate.

·       Good problem solving and analytical skills, deadline focused yet shows great attention to detail.

Preferred Qualifications:

·       Direct Lending Leveraged Loan Fund Portfolios / CLOs

·       Sentry

·       Experience in Loan Closing

·       Understanding of Swift format and cash instructions flow.

FINRA Registrations Required:

 

  • Not Applicable

CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):

  • Not Applicable

SEC Security-Based Swap Dealer Associated Person:

  • Not Applicable

The expected starting salary range for this position is between $80,000 to $90,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.

In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.

This application will remain open until a candidate has been selected for the role. There is no specific application timeline.

About BNP Paribas:

BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world. 

As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose - to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential. 

BNP Paribas. The Bank for a Changing World - https://usa.bnpparibas/en/homepage/join-us/our-opportunities/

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.

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Why should I apply?

Basically, why would you want to join BNP Paribas over any other company?

BECAUSE YOU'RE THE KIND OF PERSON WHO WANTS...

  • What if we told you that working in our Group isn’t quite what you might think? At BNP Paribas, we do a multitude of different jobs that are constantly evolving to meet the expectations of our clients and society as a whole. Whether through everyday tasks or major projects, doing one of our jobs means making a personal commitment to taking sustainable action.

  • Feeling good about your job means bringing your whole self to work and being who you are. It’s also about having the resources you need to achieve a healthy work-life balance. Both of these are major commitments at BNP Paribas.

  • At BNP Paribas, developing your skills is as important to us as it is to you. And the skills you learn with us will help you through the rest of your working life.

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