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Commercial Bank - Trading Services Associate at JPMorgan Chase Bank, N.A.

Posted in General Business 10 days ago.

This job brought to you by eQuest

Type: Full-Time
Location: Newark, Delaware

Job Description:

Job Description

Trade Support Specialist - Distressed Loan Closer - Associate

J.P. Morgan is a leading global investment bank with one of the largest client bases in the world. The Wholesale Loan Services (WLS) team of J.P. Morgan services several lines of businesses within the firm, including the Corporate and Investment Bank, Commercial Bank, Business Banking and Global Wealth Management. The group consists of approximately 1,300 employees worldwide and is responsible for over $500 billion in loans outstanding.

The Distressed Loan and Special Product Support Team within WLS's Core Loan Operations group supports the North America Credit Trading desk within the Corporate and Investment Bank with their distressed loan, and equity/bond trades. The Distressed Loan and Special Product Support Team is responsible for a number of functions in support of this trade activity including but not limited to: liaising with front office, sales assistants, trade support, back office settlements, stock record, legal, compliance, finance, accounting, transfer agents and counterparties; drafting, reviewing and executing legal documents including Trade Confirms, Assignment Agreements, Purchase and Sale Agreements, Proceeds Letters, participation agreements, Stock Powers, Officers Certificates, and Evidence of Transfers; maintaining a distressed inventory; reviewing and understanding Credit Agreements and Security Agreements; and producing various compliance and regulatory reporting


Distressed Loan/Special Product Closer position entails the following:

• Working with the trading desk, clients, counsel and operations to settle distressed secondary trades associated with the following products:

o Distressed Loans

o Distressed Equity/Bond

• Drafting, reviewing and understanding both LSTA Standard and other legal documents including Trade Confirms, Assignment Agreements, Purchase and Sale Agreements, Stock Powers, Officers Certificates, and Evidence of Transfers

• Reviewing and coordinating with internal and external counsel on proposed changes to legal


• Reviewing and understanding Credit Agreements, Security Agreements, Stock Purchase Agreements, and other relevant trade documentation

• Ability to manage heavy trade portfolio across all various lines of business while maintain a clean aging profile

• Identifying and escalating issues to the front office trading assistants/traders/sales people, in-house legal counsel and management, when necessary

o Focus on key economic, language and fee-related disputes

o Working directly with counterparts and internal partners in issue resolution

• Monitoring/tracking/reporting of all escalated issues using appropriate workflow tools

• Coordinating settlement efforts with various settlement groups throughout the IB

• Coordinate set up for (private non-DTC) equity instrument in various systems

• Monthly/weekly/daily reporting to senior management for open trades and trading metrics is required

• Must be able to resolve issues on a daily basis

• Must have excellent client and communication skills

• Detail orientated individual that can multitask efficiently under pressure and in a fast paced



The specific experience necessary for this position is:

• 3-5 years prior experience with syndicated loan settlements or trading operations

• Extensive knowledge of the trade lifecycle and/or experience supporting a trading business

• Experience with LSTA standard documentation, knowledge of the LSTA Standard Terms and Conditions

• Extremely detailed orientated

• Self-motivation and demonstration of initiative

• Excellent analytical skills

• Excellent oral and written communication skills

• Highly organized

• Control orientated

• Keen to question everything and understand the detail behind the numbers and/or process

• BA or BS degree is necessary

• Strong PC Skills : in particular Excel, Word and PowerPoint

• Preferred familiarity with loan-based software (LoanIQ, ClearPar)JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.

Equal Opportunity Employer/Disability/Veterans