Associate, Portfolio Valuation and Fund Advisory (Structured Products) - Dallas or New York

Hogan Lovells•New York, NY

1d•Hybrid

About The Position

Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank providing independent strategic and financial advice across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. The firm is recognized for its deep industry expertise, broad international reach, and a partnership approach. Houlihan Lokey has established one of the largest worldwide financial and valuation advisory practices over 50+ years, known for its transaction expertise and leadership in valuation, inspiring confidence in financial executives, boards of directors, special committees, investors, and business owners. In 2025, LSEG ranked the firm as the No. 1 global M&A fairness opinion advisor over the past 25 years. The firm's stability, integrity, technical leadership, and global capabilities make it a trusted advisor across various services including Transaction Opinions, Transaction Advisory Services, Corporate Valuation Advisory Services, Portfolio Valuation and Fund Advisory Services, Real Estate Valuation and Advisory Services, and Dispute Resolution Consulting practices. The Portfolio Valuation and Fund Advisory Services practice specifically leverages extensive experience in analyzing, structuring, securitizing, underwriting, investing in, and trading whole loans and structured credit instruments. Professionals in this practice utilize thorough analytical methods and powerful proprietary modeling techniques, incorporating robust market data to provide superior valuation and advisory services that reflect current market developments for all structured products. They have analyzed multibillion-dollar portfolios of individual securities, whole loans, and other instruments for a diverse client base including originators, hedge funds, private equity funds, banks, insurance companies, and fund administrators. The Associate position offers an excellent career opportunity to join this rapidly growing firm. Associates are fully integrated members of engagement teams, working with a dedicated and highly talented staff. This role provides broad exposure to various financial advisory challenges, including the valuation of complex securities, and opportunities to interact with clients on active engagements and participate in the firm’s marketing efforts. The current work environment is a hybrid model, requiring team members to be in the office at least 4 days/week.

Requirements

Associate candidates should have 3-5+ years of work experience
Bachelor’s or Master’s degree in finance, accounting, business, applied mathematics, statistics, engineering, or equivalent quantitative field
A fundamental understanding of financial valuation theory, methodologies, and applications
Knowledge of various structured products including, but not limited to, Residential and Commercial Mortgage Securities (RMBS and CMBS), Asset-Backed Securities (ABS), and Collateralized Loan Obligations (CLO)
Understanding of basic probability and statistical concepts
Strong analytical abilities including demonstrated ability to model discounted cash flows
Strong problem solving skills and the ability to work through complex financial models to determine the key assumptions, implicit caveats and limitations
Strong knowledge of Excel
Excellent verbal and written communication skills; ability to prepare reports and presentations to team and clients, including graphic and written sections
Demonstrated ability to work cooperatively with team members
Ability to work independently in a fast paced environment
An exceptional work ethic and attention to detail
Ability to manage multiple projects and interact with clients and internal management
Flexibility to travel to client site for due diligence meetings as required

Nice To Haves

Knowledge of multiple valuation techniques
Knowledge of and experience with statistical packages and data sources such as Intex and Bloomberg
Python/VBA skillset

Responsibilities

Analyzing and valuing various structured products, asset-backed loans, loan pools and other illiquid securities
Determining relevant valuation assumptions based on historical performance, collateral type, and economic scenarios
Utilizing a discounted cash flows framework to derive value indications at appropriate market discount margins / yields
Performing market research; calibrating proprietary valuation models to incorporate market-based assumptions
Reviewing and compiling published financial information, such as industry research reports, remittance data, and market data across a wide range of asset classes
Assisting in the preparation of client deliverables including valuation reports, pitch materials and information requests
Participating in due diligence meetings/discussions and assisting in responding to auditor questions regarding valuation analyses prepared by Houlihan Lokey
Participating in presenting valuation analyses and conclusions internally to review committees, externally to our clients’ senior management and boards of directors, and to fiduciaries
Performing quantitative and qualitative assessments on distribution reports, financial statement, and other sources of information, as required
Researching and providing initial draft on (a) general economic conditions, (b) industry-specific conditions and trends, and (c) various investment attributes of illiquid securities
Assisting with sales and marketing initiatives for prospective and existing clients
Performing other ad-hoc research, analytics, and support for the FVA project teams as required