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Deal Manager, Fulfillment & Closing

RBC Capital Markets

RBC Capital Markets

Toronto, ON, Canada
Posted on Thursday, July 11, 2024

Job Summary

The primary responsibility of the Deal Manager is to review new and amended credit agreements, whether it be for syndicated transactions where RBC is acting as Administrative Agent, where RBC is a participant in a deal where another financial institution has been mandated as Administrative Agent, or bilateral deals directly with the Borrower. The Deal Manager will work with lenders’ counsel and/or other Administrative Agents to ensure that effective and efficient administrative and operational procedures are put in place to perform the role of Administrative Agent (where mandated) in compliance with industry standards and to ensure that the proposed terms outlined in the Credit Agreement can be effectively operationalized by RBC to minimize the risk of error.

The Deal Manager will be aligned with deals originated by teams in Business and Financial Services (‘BFS’) and Capital Markets (‘CM’) located both in Canada and the US and will act as the primary point of contact for all deal related inquiries.

The competence with which the incumbents’ duties are carried out has a major impact on the credibility of the department, both within and outside the Bank.

The role of Administrative Agent on a syndicated transaction is highly visible and affects the Bank’s ability to obtain and ultimately retain Syndication and Agency mandates. Failure to perform in an efficient and competent manner can not only jeopardize the Bank’s reputation but can also result in significant loss of business. Deal Managers are highly responsible for minimizing Operational Risk Events, while displaying considerable initiative in resolving various requests that may fall outside the norm of standard operations – interpretation of client requirements and needs, decisions and actions arise daily and are highly time sensitive.

Job Description

Primary Responsibilities:

  • Assist Leverage Finance, Syndications, Real Estate Middle Office, Corporate Client Group, and Corporate Banking (collectively referred to as ‘our Partners’) teams with negotiation and closing of credit agreements, refinancing documentation, amendments & supplementals which includes liaising with external legal counsel, lenders, borrowers, and senior management.

  • Review various types of credit documentation to ensure the Administrative Agent function (where mandated) is adequately and correctly incorporated and negotiate required changes in conjunction with Lenders’ counsel and our Partners in BFS and CM. Will also complete internal summary sheets and complete deal checklist associated with deal related activity while ensuring that ACBS set-up is complete.

  • Reviews the credit agreement to determine required reporting, diarizes due dates.

  • Ensure that required funding for closings are requested and released in accordance with established procedures. Will request draft funds flow and will lead reconciliation thereof, obtain lender and Borrower admin forms and request the opening of a TLB/collection account if required.

  • Where required or requested, charge/discharge/release/postpone security, execute or terminate deposit control account agreements and other security documentation, as advised by Lenders’ counsel and in tandem with discussions with our Partners in BFS and CM and borrowers.

  • Prepare consents, extensions and waiver requests received from the borrower, manage the consent process and follow-up as appropriate to ensure (i) consents are obtained, recorded, and advised in a professional and timely manner, and (ii) documentation to reflect agreed upon requests is completed and executed by all parties in accordance with procedures established by the specific credit agreement.

  • Ensure that closing books and possessory collateral pledged under credit agreements and/or amendments are delivered to RBC’s documentation and security group to be held in custody on behalf of the Lenders – and assist in follow-up of missing items, where required.

  • Assist Leverage Finance, Syndications, Real Estate Middle Office, Corporate Client Group, and Corporate Banking (collectively referred to as ‘our Partners’) teams with negotiation and closing of credit agreements, refinancing documentation, amendments & supplementals which includes liaising with external legal counsel, lenders, borrowers, and senior management.

  • Review various types of credit documentation to ensure the Administrative Agent function (where mandated) is adequately and correctly incorporated and negotiate required changes in conjunction with Lenders’ counsel and our Partners in BFS and CM. Will also complete internal summary sheets and complete deal checklist associated with deal related activity while ensuring that ACBS set-up is complete.

  • Reviews the credit agreement to determine required reporting, diarizes due dates.

  • Ensure that required funding for closings are requested and released in accordance with established procedures. Will request draft funds flow and will lead reconciliation thereof, obtain lender and Borrower admin forms and request the opening of a TLB/collection account if required.

  • Where required or requested, charge/discharge/release/postpone security, execute or terminate deposit control account agreements and other security documentation, as advised by Lenders’ counsel and in tandem with discussions with our Partners in BFS and CM and borrowers.

  • Prepare consents, extensions and waiver requests received from the borrower, manage the consent process and follow-up as appropriate to ensure (i) consents are obtained, recorded, and advised in a professional and timely manner, and (ii) documentation to reflect agreed upon requests is completed and executed by all parties in accordance with procedures established by the specific credit agreement.

  • Ensure that closing books and possessory collateral pledged under credit agreements and/or amendments are delivered to RBC’s documentation and security group to be held in custody on behalf of the Lenders – and assist in follow-up of missing items, where required.

  • Negotiate and ensure adequate Agency Services fees when RBC has been mandated as Administrative Agent are charged and collected.

  • Act as principal contact for lenders, borrowers, and our Partners in BFS and CM regarding all technical and operational aspects of the Administrative Agent function, deals where RBC is a lender or bilaterals.

  • Responsible for the management, control and administration of assigned Administrative Agent mandates, which include but are not exclusive to reviewing the credit agreement to ensure the appropriate files are established, and will work with internal colleagues in Lending Services and Operations & Governance to ensure that the necessary records are diarized, operating procedures are implemented and maintained and that all records and files are maintained in an orderly manner consistent with the Bank’s practices while ensuring that appropriate procedures are established to correct deficiencies found during audit reviews.

  • Provide direction and guidance to staff as required and assist senior management in dealing with day-to-day operational issues and situations requiring immediate decisions, analysis, or review. Will work with internal colleagues in Lending Services and Operations & Governance to ensure that procedures are in place to manage/monitor special handling accounts (special loans, draw advisory, cash dominion).

  • Provide back-up for other Senior Deal Managers and Deal Managers during peak periods and absences.

  • Identify gaps in processes and recommend changes to minimize operational/reputational risk.

  • Act as verification officer as necessary and where required for Advanced Commercial Banking System (ACBS) two touch transactions, credit agreements and amendments and during volume peak periods at quarter end. Sign Manual Assignments when acting in capacity as Administrative Agent.

  • Provide focus and clarity in establishing individual goals, driving performance management, supporting career development, and rewarding strong performance.

Details regarding the types of experience required:

  • Typically has 2-4 years experience in reviewing loan documentation accompanied by a high level understanding of operational processes and controls related to corporate lending.

  • Knowledge of syndication practices, loan documentation, lending products, funding, and payment mechanisms in Canadian, American, and UK/EU markets.

  • Proficiency in Microsoft Excel, Word.

  • Proficiency with ACBS (Advanced Commercial Banking System) is considered an asset.

  • Excellent written and oral communication skills.

  • Strong inter-personal skills, the ability to work effectively both independently and within a team environment.

  • Strong organizational skills; detail oriented.

  • Ability to prioritize, work under pressure and meet time sensitive deadlines.

  • Ability to respond effectively to requests from participants for accommodations which fall outside the parameters of the Credit Agreement.

  • Required: Undergraduate degree preferably Business/Finance

  • Credit experience would be an asset.

Job Skills

Customer Service, Customer Service Management, Decision Making, Interpersonal Relationship Management, Investment Performance Measurement, Operational Delivery, Process Improvements, Risk Management, Time Management, Treasury Management

Additional Job Details

Address:

RBC CENTRE, 155 WELLINGTON ST W:TORONTO

City:

TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

Capital Markets

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2024-04-16

Application Deadline:

2024-07-24

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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