Associate, AFS Senior Portfolio Financing

BNP Paribas • New York, NY

318d • $150,000 - $200,000

About The Position

Asset Finance & Securitization (AFS) is a global business within BNP Paribas CIB, straddling activities across both Global Banking & Global Markets. The AFS umbrella includes several businesses, including Collateralized Loan Obligation (CLO), Senior Portfolio Financing (SPF), Asset-backed Securities (ABS), Project & Infrastructure Finance, Transportation Finance, and Export Finance. Senior Portfolio Financing is a strategic activity of BNPP that sits within the Asset Financing and Securitization Platform. Senior Portfolio Financing offers standardized and bespoke financing & capital solutions to credit investors, including the largest CLO managers and direct lenders globally. The collateral spans liquid to illiquid credit assets, focused mainly on leveraged loans (broadly syndicated and middle market/private credit) and other high-yielding instruments. Products include financing against portfolios of loans, such as (i) shorter-dated (1-3 years) warehouse financing intended to support CLO take-outs and (ii) longer-dated (3-5 years) senior portfolio financing that provides leverage to credit funds, supporting them through the lifecycle of their investment strategies. The adjacent CLO structuring team offers securitization (structuring and syndication) for leveraged and structured credit assets.

Requirements

• Undergraduate degree with corporate finance and/or quantitative training (e.g., Mathematics, Computer Science, natural sciences, engineering, economics, etc.)
• Interest in leveraged and structured credit. The Ideal candidate has a background in fundamental credit analysis, valuation and/or modelling
• Fluency in English
• Excellent written and oral communication skills
• Fluency with Excel; VBA, database and other programming skills are a plus
• Ability to work under pressure and deliver within tight deadlines while maintaining high standards
• Ability to work flexibly in a collaborative, team-oriented environment

Nice To Haves

• MBA or advanced level degree preferred but not required

Responsibilities

• Protect bank balance sheet as 'first line of defence': manage systems, processes and personnel to uphold high standards of control on credit risk and operational governance
• Perform in-depth credit analysis of leveraged loans (both single-name and portfolios; both broadly syndicated and direct-lending/private credit) and other high-yield instruments (including high yield bonds, technology/venture debt, structured finance assets, project/infrastructure loans and aviation loans)
• Monitor performance of higher risk and/or larger positions, maintaining updated financial models and analysis of business risks, capital structure, terms, valuation, and liquidity
• Review legal documentation, including credit agreements, indentures, intercreditor agreements, etc.
• Participate in calls with and meetings with investment managers, company management, and other buy and sell-side professionals
• Prepare and submit quarterly and annual reviews on higher risk / watch-listed assets
• Provide real-time opinions on trading decisions and valuation, and defend to Trading, Risk and senior PMs
• Collaborate with other research analysts (macro, sector, performing credit, distressed) to refine the desk's macro and asset-level views
• Lead/participate in Research projects (BNPP middle market index, default/recovery analysis) to inform and educate the Bank on market performance
• Maintain and develop risk management systems and produce reporting relating to exposure, risks, and limits
• Manage, train and develop junior members of the team, including resources in the Portugal near-shoring center

Benefits

• Medical, dental and vision coverage
• 401(k) Savings Plan
• Backup childcare
• Life, accident and disability insurance
• Mental health support
• Paid time off

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree