Associate, Direct Lending Workout

Position Information

Hiring Manager:

Principal

Department:

DL - Direct Lending

Department Overview

The Middle Market Lending Team provides senior, one-stop and second lien loans to U.S. middle market companies. The team structures financing solutions with hold positions of up to $1 billion. We also underwrite and syndicate senior credit facilities and a proprietary suite of GOLD (unitranche) facilities up to $2 billion. The Middle Market Lending Team has specialty teams in five verticals:
Consumer, Restaurant and Retail, Diversified Industries, Financial Services, Healthcare and Software & Technology Services. The team has an outstanding track record of closing deals on time and at the agreed-upon terms, utilizing deep industry knowledge to identify, advise on and implement value creation strategies. Key responsibilities include origination and underwriting of loans. The team works closely with all areas of the Firm to ensure seamless execution.

The Workout Team within the Middle Market Lending Department is responsible for managing a portfolio of the Firm's troubled investments, primarily senior secured debt (including one-stop loans). The team develops and implements deal specific strategies for maximizing recoveries and minimizing losses on the portfolio.

The Special Situations Team is responsible for managing select high intensity workouts where the debt has been or may be converted into significant minority or a control equity position. These situations often include operational turnarounds.

Position Responsibilities

* Assisting with managing a portfolio of the Firm's troubled investments, primarily senior secured debt (including one-stop loans)

* Assisting with developing and implementing strategies for maximizing recoveries and minimizing losses on the portfolio

* Preparing and assisting in analyzing and modeling potential restructuring alternatives

* Assisting with preparing restructuring / amendment / waiver requests along with other written updates on portfolio accounts

* Assisting with developing analyses and what-if scenarios

* Assisting in negotiation with various constituencies including financial sponsors, management, other bank group members and other lenders in the capital structure

* Assisting in preparing portfolio update reports

* Supporting senior team members in other capacities as needed

Candidate Requirements

Qualifications &

Experience:

* Bachelor's Degree is required, preferably with a major in Finance, Accounting, Economics or related financial discipline with an outstanding record of academic achievement

* 3 years of experience in a finance function, preferably in a credit restructuring, leveraged credit, investment banking or commercial banking environment

* Leveraged lending experience preferred (not High Yield) at a finance company, bank, BDC or mezzanine fund

* Formal credit training preferred

* Strong analytical, financial modeling and research skills

* Ability to effectively communicate with internal and external clients

* Proficient in Excel, Word, PowerPoint and other software

* Must be organized, detail driven and process oriented

* Experience working with financial sponsors is a plus

* Enthusiastic about working in office and creating a Gold Standard hybrid work culture

Critical Competencies for Success

Our Gold Standards Model defines key behaviors and competencies across 4 dimensions:
Leadership, Achieving Results, Personal Effectiveness and Thinking Critically. These behaviors and competencies drive our ability to win together.

* Leadership:
Role models in this area consistently focus on the right goals and priorities and continually develop themselves and others. Always team players, they influence and engage with others to contribute to a supportive and inclusive culture where all feel welcome.

* Achieving Results:
Role models in this area are high achievers who develop careful plans and deliver consistently and effectively. They hold themselves and others accountable for delivering high quality results, and they remove barriers to ensure others can contribute and grow.

* Personal Effectiveness:
Role models in this area build strong relationships, treat others with respect and communicate effectively. They are driven to exceed expectations and are adaptable to changing circumstances.

* Thinking Critically:
Role models in this area understand our business, rely on analytical reasoning and seek diverse perspectives to solve problems. They are forward thinking, anticipating issues and addressing them in advance.

The department-specific competencies define the knowledge, skills and abilities that are needed to successfully perform the functional or technical work of this role.

* Deal Execution:
Evaluates, structures and executes investment opportunities and transactions.

* Relationship Management:
Establishes, develops and manages internal and external relationships.

* Portfolio Management:
Actively monitors portfolio companies to identify risks and opportunities that may impact overall performance.

* Risk…