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About the Role
Guggenheim Investments is seeking an Associate to join the Loan Services team, reporting to the Director of Loan Services. This role involves assisting trade operations and funding teams with data analysis, loan settlements, borrowings, restructure processing, and monthly metrics. The position requires close interaction with traders, credit analysts, and legal team members, offering opportunities to utilize problem-solving skills in support of the team’s Integrity objectives. The ideal candidate will have a deep understanding of bank debt and fixed income securities. This role is central to Guggenheim Investments and offers a chance to join during a period of growth.
Responsibilities
- Process bank loan-related transactions in portfolio management and related systems, including transfers, CLO & middle market closings, crosses, CTP, and terminations.
- Process non-loan bookings in Wall Street Office.
- Book all trade amendments and reallocations for Bank Loan trades.
- Perform daily confirmation of Bank Loan trades in Aladdin for interface flow.
- Reconcile trades between BRS and WSO, comparing loan trade details against systems for booking accuracy and bond, repo, and FX trades for CLO and Private Funds.
- Monitor and resolve trade-related cash/position breaks on the dashboard.
- Act as the operations contact with third parties (custodian banks, trustees, fund administrators, agent banks) to address inquiries regarding trades, positions, and documentation.
- Assist with requests related to fund audits and business initiatives.
- Communicate non-CIDD bank loan trade & ABS term loan settlements to custodian banks, ensuring timely funding and accurate system reflection.
- Work closely with internal and external parties on borrowing requests, processing in BRS, and ensuring timely funding.
- Input wires into portals for specific fundings, sometimes including GCS.
- Provide fund administrators with settlement packages and additional documentation (e.g., Credit agreements).
- Track loan amendments and process restructures in systems, communicating with internal and external stakeholders.
- Update and reconcile prices between systems, backfilling missing marks, and mapping revolver and delayed draws in WSO for accurate reporting.
- Assist in developing and documenting procedures and controls to increase department efficiency and productivity.
- Populate/refresh trades in BRS for analytics data.
- Compile trading metrics for circulation to business and upper management.
- Ensure all trades are booked, allocated, reviewed for accuracy, executed, and checked off for closing in ClearPar in a timely manner.
- Review and understand LSTA standard documents and other legal documents (Trade Confirms, Assignment Agreements, Proceeds letters, Participation agreements, Cash collateral agreements, Multilateral Agreements, Credit Agreements), focusing on assignability language.
- Provide KYC packages and address related questions for new accounts or as requested by counterparties, liaising with Compliance or Tax teams.
- Maintain interaction with agent banks, counterparties, PMs, traders, analysts, legal, and compliance to ensure timely settlement of primary, secondary, and distressed loan trades.
- Maintain accuracy of trade details through ClearPar and WSO, resolving issues prior to settlement.
- Identify and escalate issues to the front office, bank loan trading assistants/traders, in-house legal counsel, and management when necessary, tracking them through workflow tools.
- Manage loan amendment workflow, including tracking, submission, and ensuring timely and accurate vote execution.
- Manage a heavy trade portfolio for the assigned client base, maintaining a clean aging profile and aiming for settlement within LSTA standards.
- Manage liquidity for various accounts through correspondence with PMs, notifying them of cash needs and FX desk for FX trades.
- Ensure all trade fees are booked into WSO, tied to ClearPar invoices, submitted to custodians for payment, and followed up regularly.
- Draft manual documents (trade confirms, assignment agreements, funding memos) for trades not booked on ClearPar.
- Facilitate funding for direct trade closings by working with the legal/origination team, drafting, reviewing, signing, and submitting funding memos to custodians.
- Create, understand, and present metrics reporting for trading, portfolio management, and operations.
- Prepare monthly/weekly reporting to senior management on open trades and trading metrics.
- Process large-scale loan assignments for special projects, including CLO warehousing and closing, cross-trades, and client-directed transfers.
Requirements
- Undergraduate degree with 2+ years of relevant work experience in investment management or a financial services environment.
- Proficient in Microsoft Office Suite, specifically Excel.
- Ability to multi-task in a fast-paced and challenging environment.
- At least 2+ years of bank loan related experience is required.
- Organized, detail-oriented, and thorough with strong problem-solving skills and a demonstrated ability to take initiative.
- Excellent written and verbal communication skills with the ability to collaborate with internal teams and external clients and service providers.
- Must be authorized to work in the US without current or future visa sponsorship or transfer.
Skills
- Microsoft Office Suite
- Excel
- Wall Street Office
- Bloomberg
- Problem-solving
- Communication
- Collaboration
Location
- New York Office
Work Type
- Full-time
Experience Level
- Associate
- 2+ years of relevant work experience
- 2+ years of bank loan related experience
Education Level
- Undergraduate degree
- Bachelor's degree
Salary/Compensations
- $95,000.00-$105,000.00
Benefits
- 401k with matching contribution
- Healthcare and wellbeing programs
- Paid leave
- Learning and development opportunities
- Family and caregiving support
- Employee assistance program
About the Company
- Guggenheim Investments is seeking an Associate to join the Loan Services team.
- The Associate role presents an opportunity to join a team that sits at the ‘hub’ of Guggenheim Investments at an exciting time of growth and evolution at all levels of the company.
Equal Opportunity
- We are not seeking agency assistance with this role.
- We are unable to consider candidates who require current or future visa sponsorship for employment in the United States. Candidates must be authorized to work in the US without current or future visa sponsorship or transfer.