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CLO Warehouse (Securitization) Credit Risk 2nd Line of Defense- Corporate & Investment Banking

Santander Holdings USA Inc
New York, USA
Closing date
May 17, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
CLO Warehouse (Securitization) Credit Risk 2nd Line of Defense- Corporate & Investment Banking
New York, United States of America

The individual is responsible for risk analysis and independent oversight of credit quality of CLO Warehouse Lending and Securitization portfolio. S/he is responsible for all aspects of CLO Warehousing / Securitization credit quality including internal and regulatory compliance. Key focus will be on:
  • CLO Warehousing (Broadly Syndicated Loans / Middle Market Loans)
  • CLO Credit Underwriting
  • Securitization

The individual partners with the Front Office and Underwriting team. The role is responsible for establishing and maintaining the internal controls that effectively manage the risk related to the CLO Warehouse Lending and Securitization business. The individual will provide review and challenge of all new CLO Warehousing Lending and Securitization Business. The individual will have individual credit authority. The individual will also be involved in special project to support and improve efficiency, and effectiveness of the unit.

Key skills required are as follows:
  • Experience in CLO financing, and CLO Warehousing.
  • Expertise within Leverage Finance and Middle Market Lending.
  • Expertise within Securitization with focus on Consumer Lending.
  • Experience in Capital Markets activities related to CLO and Securitization capital markets take-outs.
  • Understand Risk Retention risk and structures.
  • Understanding of regulatory oversight and rules governing the product.

The candidate should be considered a Subject Matter Expert in CLO Warehouse Lending, with a strong understanding of Leverage Finance market and Securitization. The role will report to the Head of Securitization Credit Risk and will sit within Structured Finance Credit Risk Team. The role will provide exposure to Fund Finance, CLO Warehousing, Securitization, and Commercial Real Estate activities within the Structured Finance segment.

Job Function Description:
  • Ensures adherence to the policies and procedures for CLO Warehousing and credit risk.
  • Represents 2LOD in all new CIB CLO Warehousing deal screenings, perform credit analysis to determine deal viability, and compliance with CLO Warehouse credit underwriting standards.
  • Review and challenge on all new CLO Warehouse underwritings.
  • Manages and ensures compliance with all CLO Warehouse policy, standard definitions and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies.
  • Provides independent oversight of all aspects of credit quality of assigned portfolios, including the daily approval process of individual credits and the formal review process of the portfolio.
  • Identifies, manages, and reports on the company's risk areas.
  • Maintains up to date on all market developments, best practices, and trends within the broader CLO, Leverage Finance, and Securitization segments.
  • Leads special risk projects and/or programs, business continuity and other incident response and security related activities supporting CLO Warehouse financing industry best practices.

Essential Functions / Responsibility Statements:
  • Oversees and ensures consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
  • Ensures and executes ongoing maintenance of controls, mitigation plans, testing, and/o credit risk assessments.
  • Partners with the accountable business owner for effective 1st and 2nd line of defense Risk Management and Controls
  • Provides oversights on risk-management content/processes.
  • Provides oversights on risk-management content/processes followed by the 2nd line of defense.
  • Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.
  • Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship.


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Experience:

5-7 years; Risk Management, Credit Risk, CLO Warehouse Financing and CLO financings, Leverage Finance, Underwriting, or Internal Audit experience.

Skills and Abilities:
  • Strong MS Excel and PowerPoint skills required.
  • Bachelor's degree in accounting, business, statistics, finance, economics, or equivalent field
  • Ability to analyze risk and design efficient control practices to effectively manage risk.
  • Ability to multi-task, prioritize activities, manage conflicts of interest, delegate, and meet deadlines.
  • Advanced knowledge of the operational, accounting, credit, regulatory, market and technological risks within the various sectors of CLO, Leverage Finance, and Securitization segments, and Financial Industry
  • Demonstrated credit analysis and underwriting skills for understanding / tracking underlying counter party performance.
  • Ability to evaluate counter party risk exposures.
  • Demonstrated knowledge of credit policies and procedures, regulations, and applicable law(s)
  • Demonstrated track record interacting with the regulators, external and internal audit.
  • Excellent written and verbal communication.
  • Strong presentation skills. Superior project management skills.
  • Ability to interact with all levels of management, work independently and in a team environment.

Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights: Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

For NYC Job Applicants: The base annual salary range for this position is $118,764-$175,000. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.
Bachelor of Science (BS) English

Primary Location: New York, NY, Madison Ave Corp

Other Locations: New York-New York

Organization: Banco Santander S.A.

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