Manager of Collateral Monitoring

Western Alliance Bank • Los Angeles, CA

1d • Onsite

About The Position

Our lender finance business extends credit facilities to specialty finance companies, secured by portfolios of underlying loans and receivables. The integrity of those facilities depends on one thing above all: knowing — not assuming — that our counterparties are accurately delivering the collateral and related security documentation that secure the facilities. We are creating a dedicated Head of Collateral Controls to own that certainty. This is a newly carved-out function, elevated from within our portfolio management team. You will be the person who independently verifies what the portfolio team monitors, who closes the gap between what our trustees confirm, and who manages/selects the technology and vendor infrastructure that makes our control environment best-in-class. This is a hands-on individual contributor role at the VP level with meaningful support from our portfolio management team — and a clear mandate to build a team as the function scales.

Requirements

• 8+ years of related experience.
• 5+ years of experience in asset-based lending, lender finance, structured products, field examination, collateral analysis, loan operations, or credit risk review — ideally spanning more than one of these
• Meticulous attention to detail paired with growth mindset to learn which exceptions matter
• A proactive, ownership-driven mindset — you find problems before they find us, and you'd rather build the better process than work around the broken one
• Strong written and verbal communication; able to deliver findings credibly to deal teams, senior leadership, and external partners
• Bachelor's degree.

Nice To Haves

• Experience working with or managing third-party auditors, field examiners, or due diligence firms a plus
• CPA or field exam certification a plus

Responsibilities

• Own end-to-end tracking of all documentation owed by counterparties under our credit agreements — financial statements, compliance certificates, borrowing base reports, credit agreements and amendments, UCC filings, and collateral assignments
• Maintain and continuously improve the documentation tracking framework; identify gaps, chase exceptions, and escalate persistent delinquencies to deal teams and leadership
• Serve as primary day-to-day relationship owner for third-party audit firms (e.g., Big 4 accounting) conducting periodic examinations of our underlying borrowers — scoping engagements, scheduling fieldwork, reviewing findings, and driving remediation
• Independently re-verify what our trustees and servicers report: reconcile trust-level confirmations against counterparty-level reality, and double-check that borrowers are making sound credit decisions and complying with covenants under our agreements
• Review audit findings for early warning signs — eligibility drift, covenant pressure, documentation deterioration — and translate them into actionable recommendations for portfolio managers
• Manage the background check program for principals and partners at the finance companies we lend to — at onboarding and on a recurring refresh cycle
• Maintain due diligence files and flag adverse findings to deal teams and credit leadership
• Own and administer the software tools we use to validate borrowing bases and obtain independent marks on underlying names
• Proactively scan the market for collateral monitoring, data extraction, and portfolio surveillance tools we are not yet using — evaluate, pilot, and build the business case for adoption
• Manage relationships with software vendors and data providers; negotiate scope and hold them accountable to service levels
• Partner with portfolio management to automate manual verification work and raise the bar on what “well-controlled” means for a business of our scale

Benefits

• competitive salaries
• an ownership stake in the company
• medical and dental insurance
• time off
• a great 401k matching program
• tuition assistance program
• an employee volunteer program
• a wellness program
• opportunity to bolster business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career

What This Job Offers

• Job Type: Full-time
• Career Level: Senior