Senior Analyst - Special Situations & Investment Grade Private Credit Origination
You will (1) provide financial analysis supporting troubled credits undergoing workouts or restructuring; and (2) rotate through the deal teams on the origination side of the private credit group. Your role will provide experience with distressed positions undergoing complex and heavily negotiated restructurings as well as opportunities to participate in the underwriting of new deals emanating out of the agented and club channels of the investment grade private credit market. Your primary focus will be supporting the Special Situations effort; however, slower periods will provide opportunities to participate in new deal origination for a significant portion of your time. This unique role will provide an attractive opportunity to evaluate, underwrite and appropriately price credit risk on the new deal side while also experiencing firsthand how to negotiate and protect capital through workouts and restructuring events.
Restructuring & Workouts
- Support Special Situations team in negotiations with borrowers, lenders and other investors during workout and restructuring discussions.
- Interact with financial and legal advisors to supplement financial analysis.
- Prepare, compare, and contrast recovery rates for distressed assets using fundamental analysis, comp analysis and liquidation analysis of borrowers.
- Evaluate public comparables to determine appropriate credit spreads and discount rates for valuation purposes.
- Assist in preparation of credit memoranda for presentation to internal committees and third-party clients.
- Interact and coordinate with Voya Financial’s GA accounting team to ensure proper accounting treatment for impaired/restructured securities.
- Prepare and update monthly watchlist reports; and assist in monthly pricing of securities.
- Organize and maintain files of assigned credits; provide ongoing credit monitoring for assigned credits.
New Deal Origination
- Work as part of a deal team within the private credit group to evaluate and underwrite infrastructure/project finance or corporate transactions.
- Perform due diligence through direct conversations with company management, research analysts and investment banks acting as agents.
- Analyze proposed term sheets and evaluate merits of investments on relative value basis.
- Follow developments in the capital markets including public corporate debt markets to ensure relative value.
- Present conclusions and recommendations regarding investment decisions.
Knowledge & Experience:
- Bachelor’s degree in Finance, Economics, Accounting, or related field. MBA Degree and/or CFA Charter preferred.
- 3-5 years of experience in credit analysis with desire to pursue a credit analysis career track.
- Solid foundational grasp of financial statements, capital structures and accounting concepts.
- Proficiency with Excel modeling.
- Ability to learn quickly and perform a variety of different functions.
- Excellent written and verbal communication skills.
- Strong work ethic and ability to perform well in a collaborative, team focused environment.