Bank Loan Settlement (Closer)


Date: Dec 31, 2021

Location: New York, NY, US

Company: New York Life Insurance Co



When you join New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, you are joining a global investment company with a long history and passion for career development, innovation, collaboration, and diversity, equity and inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.


As a top 25 global asset management firm with more than $600 billion in assets under management, we have an important mission: to help build a better financial future for our clients, our employees, and our communities. We invite you to bring your talents to New York Life Investments, so we can continue to help people achieve their financial aspirations. To learn more, please visit LinkedIn, our Newsroom and the Careers page of



Overview of Role:

The Bank Loan Settlement (Closer) Senior Associate is responsible for the support of all settlement activities and coordination as they relate to Bank Loans.  This includes trade allocations, trade confirmations, and settlement date coordination with Counterparties and Agent Banks.  This role requires frequent interaction with Counterparties, Agent Banks, Trustee’s, Legal, Traders, and Portfolio Managers. This person will also take the lead in projects and enhancements related to Bank Loan Settlements.


Description of Responsibilities:

  • Ensure all trade allocations are completed timely for all new block trades.
  • Review all trade confirms within ClearPar, work with Counterparties and the Traders to resolve any trade discrepancies.
  • Review Assignment and Assumption Agreements to ensure they are accurate and coordinate electronic signatures by the Portfolio Managers within ClearPar.
  • Coordinate and proactively work towards a timely settlement date with the Counterparty and Agent Banks within ClearPar.
  • Partner and interact with Legal to support pop-up questions that are generated in ClearPar as they relate to the Assignment and Assumption Agreements.
  • Provide management a daily trade status on all open bank loan settlements assigned.
  • Help support CLO warehouses and CLO effective date closings.
  • Test and provide feedback on system enhancements.
  • Assist with internal and external audit requests. 
  • Proactively seek ways to improve current processes by leveraging the tools available to identify inefficiencies.



  • BA/BS in Business Administration with Finance concentration preferred
  • 5+ years of Bank Loan Settlement (Closer) experience in an Insurance Company or Investment Management firm
  • Requires extensive experience and knowledge with ClearPar (Bank Loan Settlement Platform)
  • Experience with Aladdin and Wall Street Office is a plus 
  • Strong understanding of current LSTA Industry Standards and Initiatives (Standards for Delayed Compensation on Secondary/ Primary Trades, KYC and Admin Details, etc.)
  • Advanced PC skills should include Excel, Word, PowerPoint
  • Strong interpersonal, oral, and written communication skills.
  • Strong analytical and quantitative skills with an ability to understand complex workflows
  • Good understanding of operational risks and controls
  • Team player, detail oriented, able to multi-task and prioritize effectively


Job Requisition ID: 84735








Job Segment: Bank, Banking, Loan, Social Media, Equity, Finance, Marketing