Associate I Asset-Backed Finance

Citizens•Charlotte, NC

11h

About The Position

Citizens Bank is seeking an Associate level candidate to join its Corporate Credit Securitization Lending (“CCSL”) team. The CCSL team is responsible for sourcing, underwriting, and managing loan commitments to investment funds managed by middle market leveraged loan managers and secured by portfolios of middle market loans. This role will be located in Charlotte. Responsibilities include: Analyzing both overall portfolio performance as well as underlying obligor (loans in the portfolio) results/trends, tracking mark-to-market prices of each loan, performing due diligence and clarifying conclusions with the Manager and/or the Agent, and determining underlying loans that should be elevated for increased internal monitoring. Underwriting: Producing an underwriting memo for the approval of each loan proposed for inclusion in the collateral pool, which includes executive summary of the transaction and recommendation for value of underlying leveraged loan, capitalization and sources and uses, company overview, key risks and mitigants, and financial analysis inclusive of free cash flow and key financial metrics. Direct client interaction in managing asset approval requests from the client and coordinating internal credit approval with internal credit partners. Validating accuracy of all supporting loan approval documentation. Responsibility and accountability for the quality of all written submissions and all aspects of the due diligence and approval process. Portfolio Management: Analyzing monthly portfolio metrics received loan Manager or Agent bank on the pool of underlying assets securing the credit facility. Highlighting underlying trends and potential problem loans. Understanding revaluation rights whenever underlying loans do not perform within allowed tolerances. Demonstrating good credit stewardship by proactively managing existing exposures including early identification and communication of potential issues. General: Representing Citizens at due diligence meetings with loan Manager clients, Agent banks, and potential new Syndicate lenders when new facilities / programs are being originated. Building and maintaining strong working relationships internally, especially with underwriting colleagues and credit partners.

Requirements

3+ years of leveraged finance, middle market or corporate credit underwriting experience, and / or securitization (CLO) experience.
Strong PC Proficiency, Microsoft Office applications, and Credit Research Tools.
Must have excellent verbal and written communication skills.
Excel and presentation skills are central to the role
Must be able to effectively prioritize, multi-task, and work within tight deadlines.

Responsibilities

Analyzing both overall portfolio performance as well as underlying obligor (loans in the portfolio) results/trends, tracking mark-to-market prices of each loan, performing due diligence and clarifying conclusions with the Manager and/or the Agent, and determining underlying loans that should be elevated for increased internal monitoring.
Producing an underwriting memo for the approval of each loan proposed for inclusion in the collateral pool, which includes executive summary of the transaction and recommendation for value of underlying leveraged loan, capitalization and sources and uses, company overview, key risks and mitigants, and financial analysis inclusive of free cash flow and key financial metrics.
Direct client interaction in managing asset approval requests from the client and coordinating internal credit approval with internal credit partners.
Validating accuracy of all supporting loan approval documentation.
Responsibility and accountability for the quality of all written submissions and all aspects of the due diligence and approval process.
Analyzing monthly portfolio metrics received loan Manager or Agent bank on the pool of underlying assets securing the credit facility.
Highlighting underlying trends and potential problem loans.
Understanding revaluation rights whenever underlying loans do not perform within allowed tolerances.
Demonstrating good credit stewardship by proactively managing existing exposures including early identification and communication of potential issues.
Representing Citizens at due diligence meetings with loan Manager clients, Agent banks, and potential new Syndicate lenders when new facilities / programs are being originated.
Building and maintaining strong working relationships internally, especially with underwriting colleagues and credit partners.