CLO Finance Associate

Cerberus Capital Management
New York, New York, us
Apr 08, 2021
Apr 11, 2021
Job Role
Contract Type
Full Time
Cerberus Capital Management, L.P. is a private investment firm headquartered in New York City with twenty affiliate and advisory offices throughout North America, South America, Europe, Africa, and Asia. With approximately $50 billion in assets and 785 professionals worldwide, we manage funds and accounts for many of the world's most respected investors. The Cerberus Business Finance lending platform ("Cerberus Business Finance" or "CBF") is Cerberus' direct lending business, with over $15 billion of assets under management and over $19 billion of total investment capacity. Since 1995, Cerberus Business Finance has been a leading agent, direct lender, and originator of senior secured debt to U.S. middle-market companies, and currently has a diversified portfolio of senior secured loans to approximately 145 borrowers.

Associate/Senior Associate - Fund Finance Group; a member of the CBF team which manages the Middle Market Direct Lending Platform at Cerberus. Responsibilities include but are not limited to the following:

  • Participate in the close of new CLOs and other leveraged facilities including negotiation of legal documents such as Credit Agreements, Indentures and Loan and Servicing Agreements which govern those leverage facilities.
  • Participate in investor, lender and manager calls to maintain knowledge of market developments and industry practices.
  • Prepare responses to lender diligences questions.
  • Produce various reports utilizing Wall Street Office and the firms internal Data Warehouse to be distributed to senior management.

  • Develop models to ensure the composition of CLOs, CLO Warehouses, Asset Based Lending (ABL) and other leverage facility portfolios are following their governing documents.
  • Must possess a strong understanding of CLO mechanics and documentation to calculate the priority of payment calculations for the quarterly waterfalls of each of the leverage facilities that the team manages.
  • Experience with building and running CLO compliance and Waterfall models in Excel.

Cash & Portfolio Optimization
  • Build and handle cash flow and compliance models for CLO's and other structured facilities to use for monitoring current and pro-forma compliance, pre/post-trade compliance, monthly reporting reconciliation, portfolio optimization. Communicate results of such analyses in a clear and concise manner to senior management.
  • Project cash needs for the managed funds to ensure upcoming funding obligations are met.
  • Prepare daily cash forecasts for borrowing base facilities by monitoring cash activity and preparing debt notices.
  • Suggest timely capital calls/distributions to appropriately utilize debt subject to the leverage profiles of each fund.
  • Coordinate with leading Rating Agencies such as Moody's, Standard & Poor's and DBRS to obtain private credit estimates for newly originated or secondary loans and to refresh expiring credit estimates.
  • Review/Monitor the cash reconciliation system for your assigned funds to ensure that cash items are clearing with the broker accordingly.

  • Perform data reconciliation processes with trustees/administrators monthly to ensure the data on the underlying loan assets ties.
  • Review the collateral reports to ensure accuracy of the data and that the applicable tests (Collateral Quality, Concentration Limitations, Coverage, etc.).
  • Calculate and reconcile the quarterly waterfall figures for the leverage facilities with the trustees/administrators in a timely manner to ensure that payments are ready to be made on each waterfall payment date.
  • Complete Ad Hoc data requests from managers.

Cerberus Capital Management seeks to hire individuals who are highly motivated, intelligent who have demonstrated excellence in prior endeavours. Qualifications include:
  • 3-5 years of industry experience
  • Minimum Required Education: Bachelor's Degree, preferably in Business, Finance, Mathematics, Economics, or similar degrees.
  • Strong technical skills, including Advanced Microsoft Excel and PowerPoint. Experience with VBA, SQL, Python, or other coding languages is a plus.
  • Strong interpersonal and communication skills.
  • Comfortable with taking ownership of various assigned responsibilities without the need for constant oversight.
  • Experience updating processes to improve efficiency.
  • Comfort with reading and interpreting Indentures, Credit Agreements, and other legal documentation.

Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, disability, sexual orientation, national origin, or any other category protected by law.

Cerberus is not partnering with or accepting unsolicited resumes from search firms. Search firms should refrain from contacting any Cerberus employee about this role. All resumes submitted by search firms to any employee at Cerberus via-email, the Internet or directly without a valid written search agreement will be deemed the sole property of Cerberus, and no fee will be paid in the event the candidate is hired by Cerberus.