Associate, Global Markets Corporate Banking

Bank of Montreal•Chicago, IL

4d•Onsite

About The Position

The Associate will be part of the Global Markets Corporate Banking Securitization team, which is responsible for underwriting and account management of securitization and other structured finance transactions across a wide variety of asset classes, including, but not limited to, automobile loans and leases, equipment loans, student loans, credit cards, consumer installment loans, residential mortgage-backed securities, commercial mortgage-backed securities, and leveraged loans for U.S. and Canadian clients. The Associate will independently execute core credit underwriting and portfolio management activities, provide well-supported approval recommendations regarding transaction structures and exposure amounts, and serve as a key day-to-day partner to Account Managers, clients, Credit, and product partners. The Associate will also contribute to transaction execution, portfolio surveillance, risk management, and business initiatives, while providing guidance to Analysts as appropriate.

Requirements

Undergraduate degree with strong academic achievement; coursework in finance, economics, accounting, mathematics, or a related discipline is preferred.
Typically 3 to 6 years of relevant experience in credit, structured finance, securitization, corporate banking, capital markets, or a related analytical role.
Equivalent combinations of education and experience will be considered.
Formal credit training and demonstrated experience preparing credit applications, conducting financial analysis, and assessing transaction structures are strongly preferred.
Working knowledge of securitization or structured finance concepts, including collateral performance, cash flow waterfalls, credit enhancement, covenants, triggers, counterparty risk, and legal structure.
Knowledge of capital markets and corporate and investment banking products, applicable regulations, and organizational lending and portfolio management policies.
Advanced analytical capabilities across business, financial, credit, and transaction-structure analysis, with sound judgment and attention to material risk factors.
Highly developed written and oral communication skills, including the ability to present complex analysis and recommendations clearly and concisely.
Strong interpersonal skills and demonstrated effectiveness in a collaborative, fast-paced, and demanding team environment.
Advanced proficiency in MS Excel and strong proficiency in MS Word and PowerPoint.
Self-starter with strong attention to detail, effective prioritization skills, and the ability to manage multiple transactions and deadlines with limited supervision.
Demonstrated ownership, initiative, and ability to anticipate next steps, identify issues early, and follow matters through to completion.
Ability to support and develop junior team members through clear direction, constructive feedback, and knowledge sharing.

Nice To Haves

Experience with Moody’s, Capital IQ, Bloomberg, cash flow modeling, and database management tools is preferred.

Responsibilities

Prepare concise, accurate, and well-reasoned credit applications and memoranda for new and existing transactions, with limited supervision, for presentation to Credit.
Lead credit risk analysis of securitization transactions using available sources of information, including servicer reports, cash flow models, financial statements, servicer audits, legal documentation, and third-party research.
Develop and clearly articulate approval recommendations regarding transaction structure, exposure, risk rating, capital, and key mitigants.
Determine estimated capital for current and securitization transactions using the Bank’s applicable capital models and analyze the effect of structural alternatives.
Conduct due diligence, including on-site client visits and conference calls, analysis of business models, assessment of management and servicing capabilities, and review of industry trends and applicable regulations.
Identify structural strengths and weaknesses, evaluate downside scenarios, and recommend appropriate structural protections, covenants, triggers, reporting requirements, and other mitigants.
Research and analyze financial and operating information relating to companies, counterparties, industries, and underlying asset pools.
Assess the financial soundness of counterparties and underlying securitization assets, including leverage, liquidity, debt service capacity, historical performance, repayment capability, and sensitivity to stress.
Perform financial statement analysis, including completion and review of spreading software (MRA), and reconcile analysis to source information.
Review legal documentation for conformity with approved Credit terms and conditions and raise exceptions or execution risks promptly.
Maintain current knowledge of securitization markets, relevant accounting and regulatory developments, Bank policies, and emerging credit risks.
Assist Account Managers in managing assigned account and transaction responsibilities, including timely annual reviews, amendments, renewals, rating reviews, waivers, covenant monitoring, and internal trigger reporting.
Serve as a secondary portfolio manager or day-to-day contact on assigned transactions and independently manage less complex transactions, subject to appropriate senior oversight.
Continuously monitor transaction performance, collateral trends, counterparty financial performance, industry conditions, and emerging risks, and escalate material issues with a recommended course of action.
Maintain complete and current financial, collateral, covenant, trigger, authorization, and exposure information for assigned clients and transactions.
Provide clear analytical findings to Account Managers and Credit, including independent views on key risks, structural protections, and proposed mitigants.
Prepare and deliver portfolio presentations, watchlist updates, ad hoc risk assessments, and materials for relevant business and Credit partners.
Participate actively in client and internal discussions regarding transaction terms, credit issues, amendments, and ongoing portfolio matters.
Apply detailed knowledge of Bank policies and standards to ensure the portfolio adheres to BMO policies and procedures, particularly those applicable to securitization products.
Participate in the review and negotiation of legal documentation and coordinate resolution of open credit, legal, operational, and documentation items.
Monitor exposure across BMO clients, products, legal entities, and facilities, and support escalation of concentration or limit matters.
Coordinate AML/KYC processing and follow through on pending documentation and other closing or post-closing requirements.
Liaise with Global Markets areas and with various lines of business, Credit, Legal, Capital, Finance, Compliance, and operational areas of the Bank as required.
Partner with product and coverage teams on portfolio management needs, transaction execution, client opportunities, and growth initiatives.
Participate as a core member of deal teams negotiating structure, credit terms, and documentation for securitization transactions.
Contribute to updates of Financing Guidelines, underwriting standards, portfolio procedures, and related governance materials.
Support projects involving regulatory, policy, data, reporting, process, or technology enhancements.
Provide day-to-day guidance, quality review, and technical support to Analysts, and share knowledge across the team.
Identify opportunities to improve the quality, consistency, efficiency, and control environment of underwriting and portfolio management processes.