Vice President, Trading Operations

1 month ago

New York, United States Octagon Credit Investors Full time

Employer Summary:


Octagon Credit Investors, LLC is a 25+ year old, $34+B investment adviser focused on leveraged loan, high yield bond, and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon's investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors, and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable, and scalable approach in its effort to generate attractive risk-adjusted returns for its investors.


The firm was founded in 1994 as a separate business unit of Chemical Bank and in 1999, Octagon spun out from Chase Manhattan Bank. Octagon honors its heritage through its company name and logo, both of which are derived from Chase Manhattan's emblem. Located in New York, the firm currently comprises approximately 90 employees, many of whom have spent their entire professional careers at Octagon.


Octagon believes that providing a challenging and rewarding career, combined with a supportive work environment, incents employees to remain at the firm. Significant employee ownership and low employee turnover also underscore our culture of partnership, teamwork, and dedication to preserving investor capital across all our funds/accounts under management. We also embrace the principles of diversity, equity, and inclusion; our employees can bring the best version of themselves to work every day. We thrive in an environment where everyone’s voice is heard, every idea counts, and the differences of our employees are valued.


Position Summary:


The Vice President, Trading Operations is responsible for overseeing trading operations in line with the firm’s policies and procedures. We are looking for a professional with 10+ years of trading operations experience. The Vice President, Trading Operations will report to the Head of Trading and Capital Markets and will take on an integral role in helping to manage and contribute to Octagon’s investment activity.


Essential Duties and Responsibilities:


  • Book daily trades (including Loans/Bonds/CLO Debt & Equity/ETFs/Options) and orders for Portfolio Managers
  • Book and maintain trade orders to reflect current market environment
  • Create and circulate Indication of Interest spreadsheets to Portfolio Managers on new issue opportunities
  • Support and monitor the processing of distressed amendments, restructuring transactions, and new money opportunities
  • Provide supervision, training, and mentorship to subordinates on the trading operations team.
  • Reconcile trade recaps for accuracy against internal trade bookings
  • Set up new assets in internal system (Everest)
  • Monitor pre-trade compliance module results and alert relevant internal parties to issues
  • Monitor and notify internal stakeholders of loan amendments and provide direction on votes
  • Conduct daily reporting activities for cash projections for all funds
  • Request approvals for all loans purchased in each Warehouse and send daily trade blotters
  • Assist Portfolio Managers/Traders on one-off requests
  • Assist Collateral Administration and Accounting Teams on trade issue remediation and reconciliation
  • Foster and maintain relationships with broker dealers
  • Communicate issues with internal stakeholders related to investment and market trading findings
  • Support the development of technology-based solutions designed to improve internal recordkeeping, monitoring, and reporting capabilities
  • Help answer questions pertaining to investment activity, apply judgment in response to day-to-day questions, and follow up with solutions/process improvement
  • Proactively take on ad hoc projects and provide support for new business initiatives, as needed



Areas of Knowledge, Skills, and Abilities/Qualifications:


  • Bachelor’s degree with 10+ years of relevant experience in syndicated loans, loan products, or trading operations
  • Strong knowledge of the Primary and Secondary loan trading market and collateralized loan obligations (CLOs)
  • Strong understanding of LSTA standard terms and conditions and loan market principles
  • Solid ability to interpret credit agreements, amendments, and related documentation
  • Working knowledge of ClearPar, WSO Administrator, Allvue Systems, Syndtrak, FinDox, Everest (Allvue), LendAmend, and Bloomberg platforms
  • Excellent organizational skills
  • Excellent analytical skills with exemplary attention to detail
  • Outstanding reputation of professional integrity and maturity
  • Highly motivated, proactive team player with a positive attitude
  • Ability to multi‐task, be proactive, work independently, and work effectively under pressure (often under deadlines and changing priorities)
  • Excellent written and oral communication skills
  • Comfortable interacting and building relationships with all teams (including senior management) across the firm and affiliated organizations
  • Ability to clearly articulate views and supporting data


Compensation and Benefits:


  • Competitive salary and eligibility for year-end performance-based bonus
  • Medical, dental, vision, life, and disability insurance
  • Commuter benefits
  • 401(k) matching program
  • Employee Assistance Program (“EAP”)
  • Professional designation and licensure assistance
  • Family support and leaves of absence


Contact:


Contact: careers@octagoncredit.com

Attention: Howard Barkin, Recruitment Manager


Octagon Credit Investors is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including gender, gender identity, sexual orientation, or pregnancy), marital status, national origin, disability, age, or veteran status.


Please note that Octagon does not sponsor work visas or immigration-related employment benefits. We encourage all individual applications; please, no recruiters or agencies.

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