Middle Office Bank Debt Associate

Founded in 1938, MacKay Shields has grown steadily over the years through rapidly changing market environments. We became a registered investment advisor in 1969, and have expanded our services over time and now offer products across U.S. and international markets.

 

In 1984, MacKay Shields was purchased by New York Life Insurance Company. New York Life Insurance Company established New York Life Investment Management Holdings LLC in 1999 for the purpose of consolidating its asset management subsidiaries. MacKay Shields is 100% owned by New York Life Investments, which is wholly owned by New York Life Insurance Company, our ultimate parent.

 

We currently manage approximately $160 billion in assets for institutional investors and other entities across the globe.

Role

MacKay’s investments team (largely focused on fixed income) has been steadily growing both in terms of assets under management and complexity. In order to maximize our ability to add value and partner in the growth of our business, the Middle Office team is looking for candidates to provide daily support of multiple products while also focusing on value add initiatives such as subject matter expertise, process improvement & documentation, project management, and leadership.

We are seeking an individual with a solid understanding of buy side middle office support across various products, with a focus on bank debt and overall loan support. The candidate will need to be able to apply these skills appropriately to an organization with the size and scale of Mackay Shields.

 

Responsibilities

• Understanding concepts & workflows related to bank debt, such as:
  • Maintenance of all bank loan activity (interest rate resets, principal repayments, principal drawdowns, margin changes)
  • Coordinate trade settlement of primary & secondary loan closings with external parties (par & distressed, LSTA & LMA)
  • Liaise with trustees and agent banks to resolve discrepancies
  • Oversight of complex restructures including defaults, refi’s and extensions
  • Support of cash/position/trade reconciliation process and assist with managing complex reconciliation issues
  • Cash balance oversight for portfolio managers
• Support trade life cycle pre-settlement events across many other fixed income
• Analyze, document and improve current processes and controls
• Provide escalation for middle office team across business lines and work with bank, brokers and internal groups to solve problems

 

Requirements / Skills

• 5+ years of recent experience in asset management on a buy side Middle Office team
• Understanding of post execution, confirmation, settlement and fail resolution of fixed income and equity products including bank loans, corp bonds, treasuries, equities (domestic and foreign) and mortgages
• Knowledge of Omego’s suite of post execution applications
• Knowledge of various derivative products such as futures, OTC, FOREX
• Experience and comfort dealing directly with clients, investment teams, and other senior stakeholders
• Strong communication and interpersonal skills. Able to work in team environment
• Highly organized, detail oriented, ability to multi task and problem solve
• Team lead mentality
• Advanced Microsoft Office skills
• Relevant applications: WSO, Clearpar, Bloomberg AIM, Tradeflow, Omgeo, Margin Manager

Job ID:

23385