Bank Loans Operations, Associate

New York Life Insurance Company; New York (NY); On-site; USD 80,000 - 95,000; Full time

Job summary

Join a forward-thinking company as a Bank Loans Operations Associate, where you'll play a vital role in managing leverage loan assets and ensuring compliance within a dynamic environment. This position requires strong analytical skills and the ability to collaborate effectively with various stakeholders, including traders and analysts. You'll be responsible for reconciling records, processing transactions, and contributing to departmental projects. With a commitment to diversity and employee growth, this established industry leader offers a supportive culture and opportunities for career advancement. If you're ready to make an impact in the financial services sector, this is the perfect opportunity for you.

Benefits

Leave programs

Adoption assistance

Student loan repayment programs

Annual discretionary bonus

Qualifications

• 2-3 years of Middle Office/Operations Trust Services experience required.
• Experience with leverage loans/CLO preferred.

Responsibilities

• Administer leverage loan assets and reconcile records.
• Process and maintain security master/transactions in Wall Street Office.

Skills

Oral and written communication skills

Technical skills

Analytical skills

Problem-solving

Education

BA/BS in Business Administration with Finance concentration

Tools

Microsoft Office

BlackRock’s Aladdin

Wall Street Office

Job description

Bank Loans Operations, Associate

Role Overview:

The Bank Loans Operations Associate is responsible for administration of leverage loan assets in multiple systems as well as the reconciliation of records between the Trustee, agent and internal systems. The associate also does the reporting of CLO (collateralized loan obligation) compliance, data and cash reconciliation. This role requires frequent interaction with the trading desk, high yield analyst, agents, and Trustees.

What You'll Do:

• Process and maintain leverage loan assets security master/transactions in Wall Street Office.
• Analyze and solve discrepancies between agent/trustee/internal system records.
• Daily cash/positions/trades reconciliation between internal systems and Trustees.
• Monthly CLO Investors report reconciliation including data, ratings and compliance reports.
• CLO warehouse closing process including borrowings, pre/post closing reconciliations and tie outs.
• Liaising with the Traders, analysts, and Trustees on all bank loan operations matters.
• Actively participate in group and departmental projects and upgrades. Stay apprised of industry regulations and initiatives.
• Assist with testing plans and document results.

What You'll Bring:

• BA/BS in Business Administration with Finance concentration preferred.
• 2 - 3 years of Middle Office/Operations Trust Services experience is required.
• Leverage loans/CLO experience preferred.
• Excellent oral and written communication skills.
• High competence level with Microsoft Office tools required.
• Strong technical and analytical skills required.
• Proficient at systems specification, testing, and implementation.
• Experience with BlackRock’s Aladdin and Wall Street Office is a plus.

Pay Transparency

Salary Range: $80,000-$95,000. Discretionary bonus eligible: Yes. Actual base salary will be determined based on several factors including individual’s experience, skills, qualifications, and job location. Employees are eligible for an annual discretionary bonus and may also be eligible to participate in an incentive program.

We provide a full package of benefits for employees, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering so that you can flourish both inside and outside of work.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture.

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

Job Requisition ID: 91352

About NY Life Insurance Company

Diversity & Humanity – two values that are deeply rooted in the New York Life culture and have laid the foundation for over 175 years of commitment to our employees, agents, policy owners, and the communities where we live and work. At New York Life you become a valued part of a welcoming, inclusive, and caring culture that has a long-standing legacy in stability and growth.

As a Fortune 100 company and industry leader, we provide an environment where you can explore your career ambitions, offering opportunities to tackle meaningful challenges and stretch your skills while balancing work and life priorities.