Agency Services Loan Trade Settlement

at  BNP Paribas

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal’s Top Employers in 2024. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.

MINIMUM REQUIRED QUALIFICATIONS:

Analytical and detail oriented.
Strong written and verbal communication skills
Ability to comprehend and extract pertinent credit and loan financing data from legal and internal documentation.
Ability to work independently and prioritize time-sensitive tasks.
Ability to exercise good judgement in dealing with unforeseen circumstances while ensuring compliance with established policies and controls.

PREFERRED QUALIFICATIONS:

Minimum 6 months - 2 years’ experience in loan credit processing
Bachelor or equivalent
Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Knowledge of the English is required.

WHAT YOU NEED TO KNOW

• We will review candidates as they apply, so don’t wait to submit your application;
• BNP Paribas is committed to accessibility and inclusion. If you need any accommodation during the recruitment process, you can contact accessibility@us.bnpparibas.com
• You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas’ office(s) is an essential function of this position;

ABOUT US

BNP Paribas is the top bank in the European Union and a major international banking establishment. Present in 63 countries, with more than 180,000 employees, the bank holds key positions in several areas of banking and financial services.
BNP Paribas’ mission is to contribute to a responsible and sustainable economy by financing and advising its clients according to the highest ethical standards, while striving to respond to essential concerns in terms of the environment, regional development and social inclusion.
Since 1961, BNP Paribas has supported large Canadian companies and institutions in their business development by offering a full range of specialized financial services and investment products.
With over 1,400 employees, BNP Paribas in Canada continues to attract experts from diverse fields as well as ambitious young talent from around the world. We are proud to offer our employees a rewarding and international workplace where they can build their professional careers by honing their skills, meeting challenges and enriching their knowledge of the financial industry.

AGENCY SERVICES TEAM CORE RESPONSIBILITIES:

• Provide support and monitoring to key stakeholders associated with BNPP’s Administrative Agency Lending activity.
• Perform the Primary and Secondary loan trade settlement execution and associated processes relating to the syndicate allocation activities and events of an approved deal/facility during the pre-close/close, post-close, and ongoing maintenance.
• Establish and maintain the Clients deal and/or facility agency site, via a third-party vendor deal site distribution service, i.e. DebtDomain, SyndTrak, Intralinks, etc., to disseminate relevant correspondence to existing Lenders throughout the life of a facility.
• Ensure adherence to BNPP’s KYC compliance requirements of third-party counterparties.
• Maintain current and accurate data related to the syndication commitment allocation and subsequent event activities as it relates to the underlying line of credit.

DUTIES INCLUDE:

Pre-Close/Close Set-up of New or Amended Agented Facility:
UPON NOTIFICATION OF A NEW OR AMENDED DEAL/FACILITY CLOSING ALONG WITH LENDER BANK GROUP ALLOCATION:Establish Client Agency deal-site and liaise with the business and or sales desk to provide or upload relevant documentation, set-up of Primary investors, Legal counsel, internal team members dissemination and contact information.Create and maintain deal/facility and lender group syndication data within the various tools, spreadsheets, etc, which include but not limited to: Borrower/Lender name, internal reference codes, credit line type, allocation amount/percentage, closing fee, etc. for monitoring and dissemination of new and subsequent trade activity to applicable stakeholders. Provide the bank’s third-party trade settlement vendor with final version/execution and/or executed Credit Agreement to initiate the build of facility allocation within their platform for actioning subsequent loan trading activity. Verify Lender KYC and U.S. flag compliance, and follow-up of non-compliance, with applicable stakeholders.

AGENT DUTIES:

• Maintain and update Client Agency deal site workspace contact information as changes occur with the Sponsor, Borrowers and Lenders
• Prepare and disseminate lender commitment allocation to sponsor/borrower, as applicable or upon ad-hoc request.
• Upon receipt of borrower’s covenant compliance, and lifecycle financing documents, post to deal site.
• Verify invoice charges from third-party vendor for services performed related to the volume of primary trades and client distribution sites, and coordinate payment remittance with respective team.

LOAN TRADE SETTLEMENT DUTIES:

UPON RECEIPT NOTIFICATION OF A NEW ASSIGNMENT AGREEMENT/TRADE CERTIFICATE REQUEST:Liaise with Investor to obtain receipt of applicable administrative details and tax form information and disseminate to internal stakeholders for internal data capture/processing.Verify third-party Lender KYC and U.S. flag compliance and/or initiate the Lender on-boarding with relevant teams/stakeholders.Review the transfer certificate and lender requirement to ensure conformity with the financing agreement and reconcile inconsistencies. Verify the accuracy of the trade: commitment, fee, and utilization amounts, factoring in scheduled reductions and reconcile inconsistencies, prior to execution/settlement. Ensure timely update of Lender-group and trade data within the respective tools, spreadsheets, etc, along with file maintenance of underlying and support documentation.
ADDITIONAL RESPONSIBILITIES:Ensure current processing is in accordance with the procedures and policies of the Bank and the department.Train and cross-train with team members. Provide general professional support to clients, colleagues, and management.Attend relevant training classes/seminars to enhance product knowledge and productivity.Incorporate workflow of new responsibilities.