Director, Structuring

National Life Insurance•Addison, NY

1d•Onsite

About The Position

The Director, Structuring leads the structuring and ongoing management of NLG Capital’s internal feeder funds, CLOs, and related asset-backed financing vehicles across both internally and externally managed mandates. Collateral includes middle market loans and specialty finance / ABL assets. This role owns these vehicles throughout their full life cycle, including initial capital structure design, cashflow modeling, rating agency execution, documentation, and closing processes. Once established, the Director is responsible for ongoing compliance testing, reporting, covenant monitoring, amendments, resets, and refinancings, and serves as NLG Capital’s internal resource on securitization and structuring technology. The role partners closely with Direct Lending, Asset-Based Finance, and other investment teams to align credit guidelines, eligibility criteria, and concentration limits with investment and structural objectives. This is a high-visibility, high-impact role with consistent direct communication to the NLG Capital Investment Committee. It requires a builder’s mindset, strong technical rigor, and the ability to work effectively with rating agencies, arrangers, trustees, counsel, and internal and external asset managers.

Requirements

Bachelor’s degree in finance, economics, or a quantitative field
5–10 years of experience in CLO, feeder fund, ABS, or other structured vehicle structuring, origination, banking, or rating agency analysis
Strong command of structured credit documentation, capital structures, covenants and coverage tests, and the ratings process
Proven ability to execute the end-to-end structuring and ratings process
Proficiency with Intex and Excel
Exceptional organizational skills, including the ability to run live transactions while maintaining responsibility for closed vehicles
Exceptional communication skills with the ability to bring cross-functional groups together and address legal, regulatory, accounting, and financial reporting considerations
Ability to operate autonomously and build systems, processes, and models when necessary
Ability to articulate structural and credit concepts to audiences with varying levels of securitization experience

Nice To Haves

Advanced degree and/or CFA
Programming proficiency in SQL and Python
Understanding of accounting implications and insurance general account investing, including NAIC designations, statutory capital, and RBC treatment
Experience serving as a resource on securitization and structuring technology
Deep familiarity with credit markets and structured finance vehicles

Responsibilities

Structure and execute internal feeder funds, CLOs, warehouses, and related financing vehicles across internally and externally managed mandates, including capital structure design, eligibility and concentration criteria, coverage tests, and deal economics
Own the ongoing management of outstanding vehicles, including compliance and covenant monitoring, waterfall and test verification, internal reporting, amendments, resets, and refinancings
Lead rating agency engagement across the vehicle life cycle, including selection, stress and cashflow analysis, agency presentation, and ongoing surveillance
Build and maintain cashflow models, replicating rating agency scenarios and testing structures to facilitate the ratings process
Partner with Direct Lending and Asset-Based Finance teams to align structural and investment objectives
Evaluate externally managed vehicles and third-party managers across structure, documentation, collateral, and manager capability, and recommend actions to the Investment Committee
Negotiate transaction documentation alongside counsel and arrangers, and coordinate trustees, agents, and service providers through closing and beyond
Advise on financing strategy and relative cost of capital across warehouse, CLO, feeder, and other structures, including implications for NAIC designation, statutory capital, and liability matching
Produce pipeline reporting and prepare materials for the Investment Committee, Investment Risk Committee, and senior management
Perform all other duties as assigned