At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident. 

We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.  

Join us for the opportunity to grow and make a difference in ways that matter to you. 

Role Summary

Provides oversight and operational support for the administration and settlement of T. Rowe Price bank loans held in a variety of products including, but not limited to, 1940 Act mutual funds, common trusts and collateralized loan obligations (CLOs).  Responsible for monitoring daily bank loan settlement activities within ClearPar and on manual documentation, as needed, for LSTA/LMA par and distressed loans.  Also responsible for oversight of lifecycle activity (i.e. rate changes, principal/interest payments, etc.) within Wall Street Office (WSO). Coordinates bank loan activity across T. Rowe Price investments, trading, and operations teams.  Serves as the primary point of escalation for bank loan trade settlement and position discrepancies.  Collaborates with front office personnel, counterparties, administrative agents and service providers to resolve all trade settlement, interest and position discrepancies.  Works under minimal supervision with direct accountability for daily bank loan operations.

Responsibilities

Administers a broad range of portfolio transactions, ensuring proper controls and validations are in place and that activities are accurate and compliant.  Identifies quality, accuracy, or compliance deficiencies and corrects them.  Guides less experienced peers and support staff on preventing errors and interpreting process controlsServes as a primary liaison between securities operations staff, relationship managers, portfolio managers, custodians, and clients to collect, analyze, and communicate information that impacts accounts.  Fields and manages queries from internal or external clients and follows through to resolution.Oversees daily bank loan settlements and loan administration activities across investments, trading, and operations teams.  Works closely with service providers to ensure daily bank loan trades are successfully settled and loan lifecycle activities are processed in a timely manner.Oversees Trustee reporting, indenture compliance, waterfall payments, etc. for CLOs. Monitors cash and position discrepancies and works closely with counterparties, service providers, and risk management to escalate and resolve in a timely manner.Acts as the primary point of escalation for bank loan discrepancies and service exceptions.  Directs service providers to address exceptional bank loan issues impacting BAU.Contributes as a bank loan operations SME, and leads bank loan projects spanning industry initiatives, new product launches, and process improvements.Analyzes report metrics and develops recommendations to address deficiencies.Opportunities are available to work directly with external clients and internal stakeholders across client service, distribution, and the front office on meaningful projects that have potential to significantly mitigate risk and impact the bottom line.

Qualifications

Required:

Bachelor's degree or the equivalent combination of education and relevant experience AND5+ years of total relevant work experience

Preferred:

7+ years of total relevant work experience within Investment Management, Asset Management or the Financial Services industry. 7+ years of experience within investment operations.  Candidate should have a proven track record managing an operational process, identifying control gaps and leading projects to remediate them, managing internal/external stakeholders, being able to work with minimal supervision, and have a willingness and ability to eventually manage the team (people and processes).5+ years of experience supporting bank loan administration and/or trade settlement strongly preferred2+ years of experience supporting Collateralized Loan Obligations (CLOs) a plusFamiliarity with both Wall Street Office (WSO) and ClearPar a plusFamiliarity with other product types (i.e. Fixed Income, Equity, Derivatives, etc.) a plusLeadership experience and people management a plus

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to two days per week from home.

Applicants for employment in the US must have work authorization that does not now or in the future require sponsorship of a visa for employment authorization in the United States (e.g., H1-B visa, F-1 visa (OPT), TN visa or any other non-immigrant work status).

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$85,000.00 - $145,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$93,500.00 - $159,000.00 for the location of: Washington, D.C.
$106,000.00 - $181,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. 

Benefits

We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you.   

  

Featured employee benefits to enrich your life:   

Competitive compensation  

Annual bonus eligibility  

A generous retirement plan  

Hybrid work schedule  

Health and wellness benefits, including online therapy  

Paid time off for vacation, illness, medical appointments, and volunteering days  

Family care resources, including fertility and adoption benefits  

  

Learn more about our benefits.  

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.