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Trust Department Manager Jobs

Hoboken, New Jersey
<p>Major Finacial Institution is currently seeking a Manager of Transfer and Paying Agency Operations function has primary responsibility for the management and processing of the CLO portfolios deals in the Investor Services Group. As the primary account representative, the Manager has the responsibility of the setup, continued processing and reporting of the CLO note holders. This would include transfer of ownership, P&I payments and daily cash management and reporting. The manager also will have Trustee oversight responsibility in the case of default. This position will also be responsible for staffing needs, department procedures and third party vendor management.</p><p></p><p></p><p>JOB FUNCTIONS/DUTIES AND RESPONSIBILITIES</p><p></p> Represents the Trust Department and Insitution in all trust related activities including the following CLO trustee and transfer agent activities. Reads and interpret CLO deal indentures and documents. Sets up and maintain any new CLO deals on all necessary bank systems. Performs and maintains any note holder transfers of ownership. Monitors and balances daily loan positions with collateral manager. Prepares and reconciles quarterly P&I payments to holders including 3rdparty reporting. Process, maintains and balances all CLO cash accounts daily. Tracks and completes any inquires as requested. Monitors all default triggers as Trustee per the indenture. Provides consulting service to the New York Branch as deemed necessary in an on-going basis. Oversees administration of all Trust Department accounts. Reports all matters requiring its attention to the Trust Committee. Executes policies and instructions of the Board of Directors and Trust Committee. Maintains adequate records, including entries, settlement sheets and follow-up systems. Maintains adequate documentation to ensure all assets are properly safeguarded. Establishes a predetermined course of action, including setting both short-term and long-term objectives and establishing policies, procedures and programs to reach those objectives and establishes an organizational structure to meet those objectives. Provides ongoing guidance and supervision of Department personnel to achieve the Departments activities meet those objectives. Works with management to ensure that the Trust Department employs a sufficient number of employees or hires a sufficient number of outside consultants or vendors to meet the Trust Departments objectives. Works with management to ensure that all Trust Department personnel are adequately trained through an on-going training program, which may consist of in-house development programs, on-the-job training correspondent courses and external seminars (including Webinars). Performs all functions as are assigned by management. Sign, on behalf of Bank, securities and cash transaction instructions and other day to day custody business related instructions based on customers instructions, pursuant to and in accordance with the terms and conditions of the Agreement.<p>REQUIREMENTS</p> Bachelor's degree in business, finance, economics or accounting, or equivalent work experience One to three year of experience in structured finance industry Basic understanding of syndicated bank loans, fixed income securities orsecuritization trust Ability to perform multiple tasks and meet established deadlines in a dynamic working environment with minimal supervision Basic indenture interpretation abilities and analytical skills Proficient computer skills, especially Microsoft Office applications Excellent interpersonal, verbal and written communication skills Strong management skills to include business planning and people management with forward-looking and energetic behavior<p>Salary is up to 140K</p>
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