What are the responsibilities and job description for the Associate - Loan Market Operations New York position at Commonwealth Bank of Australia, Americas?
About us:
Institutional Banking and Markets (IB&M) is responsible for managing the Group’s relationships with major corporate and government clients and institutional investors, and provides a full range of capital raising, transactional and risk management products and services.
Our purpose is to build Australia’s future economy. IB&M also performs an important internal role for the Group by providing global markets, trade finance, corporate and institutional lending to other CBA business units that allows them to capture opportunities with business and retail customers.
Market Operations is a Global team of 400 Operations Professionals who support our Financial Markets, CommSec, Trade Finance & Treasury businesses globally. Functions performed are trade confirmation, settlement, reconciliation, and client data capture/maintenance, corporate actions across FX, Fixed Income, Rates, Commodities, Derivatives and Equities.
Market Operations also provides Middle and Back Office services including Collateral Management, Regulatory Reporting, Client Reference Data maintenance, Client Onboarding, KYC Refresh, Account Origination, Client Case Management, Estate Management, International Loan Administration & Operations, Trade Support and Confirmation services.
Picture yourself in the team:
The team administers the Commonwealth Bank’s U.S. portfolio of institutional lending facilities. Core responsibilities include processing drawdowns, rollovers and repayments in product systems and managing lending fees.
The New York Loan Market Operations team currently, consists of 5 staff reporting to the Manager of Loan Market Operations New York. The Manager of the team reports to the Senior Manager of Market Operations in London who reports to the Western Hemisphere Head of Operations, who is based in London. This role is based in New York City.
Do work that matters:
In this role you will quickly become an integral part of the team for processing BAU transactions and escalation of complex and non-standard operational issues, risks and improvements. You will maintain and build productive relationships with a large number of business units within the Group.
This role offers a genuine opportunity to learn and grow within the organisation.
Your main responsibilities will include but are not limited to:
- Administer NY loan portfolios including Syndicated and bilateral facilities;
- Assist business units to set up lending customer/facility in the lending system;
- Process drawdowns, rollovers, conversions and repayments, SBLCs, etc.;
- Process and reconcile all fees and interests receipts;
- Send fee billing and loan confirmation to bilateral clients;
- Liaise with NY Treasury and back office on lending activity;
- Liaise with third parties such as Agent Banks, Clients and internal stakeholders;
- Maintain data integrity in the Bank’s systems, closely monitor credit limits, exposures and loan data;
- Maintain client’s file accurately and ensure to include all necessary documents and archive as needed;
- Adhere to operational procedures to ensure compliance with the Bank’s guidelines and relevant regulatory requirements;
- Identify and assist implementing ideas for processes improvement within the environment.
We are interested in hearing from you if you have:
- Minimum of 2-5 years in corporate loan administration (e.g. syndicated loans, letters of credit);
- Experience in back-office functions for syndicated loan and knowledge of Loan IQ (system) is strongly preferred;
- Client service focused/oriented, commercially minded and very well organized;
- Ability to identify operational discrepancies and escalate according to procedure;
- High attention to detail, and good problem-solving skills;
- A team player always willing to collaborate and step in when called upon and also the ability to work independently;
- Awareness of the importance of risk and control in an operations environment and adherence to various bank policies, controls, procedures and frameworks;
- Bachelor Degree in Business Administration or related discipline is preferred but not required.
The salary range for this role is from $85,000 to $110,000. The 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 order to be considered, please indicate your minimum salary expectations and availability on the application form.
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Salary : $85,000 - $110,000