Loan Desk Manager Job
Loan Desk Manager (Job Number: 1211699)
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.
Risk Compliance teams perform analysis on the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Risk teams use the following tools: Operational Risk Events, Risk Control Self-Assessments, Key Risk Indicators and High-Level Assessments. The Compliance and Ethics areas are responsible for four core functions: Anti-Money Laundering, Business Conflicts, Compliance Monitoring and Dealing with Affiliates/Insiders.
Description
Responsible for general management of the Broker Dealer and Hedge Funds Loan Desk. The person is responsible for the overall administration and oversight of the function including coordination with broker dealer services, the loan department, treasury and client management. Incumbents will book and oversee the booking and negotiation of overnight and day loans for broker dealer and hedge fund clients, review and release large money wires, review and monitor collateral for price, asset quality, and security concentration. This has a regular calling effort with the client base. This position requires late hours on a regular basis. Incumbent oversee and is directly involved in the process of reviewing and releasing very large money wires on a nightly basis within tight time frames. Oversee settlement activities on a daily basis between our broker dealer clients and several domestic and global depositories and exchanges. Maintain strict adherence to Risk, Administration and Compliance policies as well as raise risk issues to senior management as appropriate. Incumbent has responsibility for negotiating appropriate loan pricing and must be able to react and make quick decisions. Sound judgment is a must.
Qualifications
Minimum education: BA/BS in business administration or related field. Preferred education: MBA or related field. Minimum experience: 5+ years of industry experience, including repo trading and securities processing. Preferred experience: 10 years of industry experience, including repo trading and securities processing.Must have a firm understanding of money and securities markets as well as their settlement mechanisms. Must also understand the operational and business interrelationship between the various lines of business including BDS, Loan Ops and Funds Transfer. Needs a good understanding of broker dealer credit.The position is very transaction driven and requires quick and decisive action. Periodically processes and business needs have to be reassessed and re-engineered in light of market and internal changes. The position can be stressful as the person is dealing with tight time frames and very large dollar amounts are involved. The clients are demanding and mistake can be costly.The person in this position at one time or another will come into contact with most of the broker dealer clients and the dollar amount involved can be large, therefore the position s impact on a relationship can be significant. The person also has extensive interaction with operating departments and Treasury. Maintaining their cooperation is important.The person in this position interacts with many clients and internal departments. The person needs strong interpersonal skills, but also needs to be firm with clients and other departments given the nature of the function (negotiating rates, collateral requirements and making credit decisions).
Primary Location: United States-USA-NY-New York
Internal Jobcode: 31230
Job: Audit/Compliance/Risk
Organization: Risk-HR06016
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