Associate - Institutional Client Credit Management

Royal Bank of Canada•New York, NY

77d•$105,000•Hybrid

About The Position

What will you do? Primarily support RBCCM's Risk Solutions Group (RSG) in the origination, onboarding, maintenance and management of the credit relationship with large sponsor clients, including Private Equity and Private Capital Sponsor funds, as well as hedge funds managed by these sponsors. Engage with clients to conduct comprehensive fund due diligence, including collecting and reviewing relevant fund documents such as Private Placement Memoranda (PPMs), Limited Partnership Agreements (LPAs), Management Agreements, structure charts, and financials to support the credit evaluation process. Collaborate with Fund Finance and RSG to support comprehensive sponsor relationships by facilitating non-lending revenue opportunities for funds that have existing lending relationships with RBC. Work with Group Risk Management in the risk assessment of alternative investment funds and support credit onboarding through analysis of fund documentation and client information. Focus on credit structuring for sponsor funds in support of RBCCM trading relationships, including risk limits, regulatory, legal, compliance, tax, and operational matters. Actively collaborate with Group Risk Management and RBC Trading Documentation team in the document negotiation process by proposing ISDA credit terms (ATEs) and other credit provisions to ensure proper trading documents are established. Prepare credit requests and trading line requests with related documentation required as part of Risk Management approval process and submit to relevant Business Heads for support. Create call memos for credit Due Diligence meetings. Work with and advise product partners on the optimal amount of trading credit required to meet our strategic objectives with each client relationship. Work with internal stakeholders to address any and all counterparty credit concerns that may arise from the portfolio. Occasionally support maintenance of accurate counterparty compliance reports and provide ad hoc reporting on utilization, fund performance, Due Diligence meetings, etc. Understand and apply securities regulations governing Private Equity, Private Capital Sponsor funds, hedge funds and other institutional counterparties.

Requirements

An understanding of credit risks associated with institutional clients including Private Equity, Private Capital Sponsor funds, and to a less degree hedge funds, along with the trading products they use.
Knowledge of sponsor fund structures and operations.
Understanding of ISDA master agreements and CSAs, primarily credit terms within ISDA and CSAs.
Basic understanding of FX and Rates products and their application in Sponsor fund relationships.
A basic knowledge of alternative investment strategies employed by institutional clients.
Undergraduate degree or higher.
A general understanding of Capital Markets products base and the application thereof.
Strong interpersonal skills and the ability to work effectively within a team environment.
Excellent communication, business development and relationship management skills.
Ability to prioritize work and manage multiple tasks while meeting time sensitive deadlines.
Financial accounting skills.
Strong analytical, technical, written and communication skills.
A comprehensive understanding of Credit and Credit Risk.

Responsibilities

Primarily support RBCCM's Risk Solutions Group (RSG) in the origination, onboarding, maintenance and management of the credit relationship with large sponsor clients, including Private Equity and Private Capital Sponsor funds, as well as hedge funds managed by these sponsors.
Engage with clients to conduct comprehensive fund due diligence, including collecting and reviewing relevant fund documents such as Private Placement Memoranda (PPMs), Limited Partnership Agreements (LPAs), Management Agreements, structure charts, and financials to support the credit evaluation process.
Collaborate with Fund Finance and RSG to support comprehensive sponsor relationships by facilitating non-lending revenue opportunities for funds that have existing lending relationships with RBC.
Work with Group Risk Management in the risk assessment of alternative investment funds and support credit onboarding through analysis of fund documentation and client information.
Focus on credit structuring for sponsor funds in support of RBCCM trading relationships, including risk limits, regulatory, legal, compliance, tax, and operational matters.
Actively collaborate with Group Risk Management and RBC Trading Documentation team in the document negotiation process by proposing ISDA credit terms (ATEs) and other credit provisions to ensure proper trading documents are established.
Prepare credit requests and trading line requests with related documentation required as part of Risk Management approval process and submit to relevant Business Heads for support.
Create call memos for credit Due Diligence meetings.
Work with and advise product partners on the optimal amount of trading credit required to meet our strategic objectives with each client relationship.
Work with internal stakeholders to address any and all counterparty credit concerns that may arise from the portfolio.
Occasionally support maintenance of accurate counterparty compliance reports and provide ad hoc reporting on utilization, fund performance, Due Diligence meetings, etc.
Understand and apply securities regulations governing Private Equity, Private Capital Sponsor funds, hedge funds and other institutional counterparties.

Benefits

A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
Opportunities to do challenging work
Opportunities to building close relationships with clients

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