Private Investment Operations Analyst, Private Credit

Jackson•Chicago, IL

1d•$75,000 - $90,000

About The Position

If you are an internal associate, please login to Workday and apply through Jobs Hub. Working at PPM America, Inc. PPM is a US-based institutional asset manager. Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. We take a hard work, straight talk, full transparency and humility approach to our work. Our success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of our belief is the fact that our best ideas to date have and can come from any team member anywhere in our firm. We believe the success of our investment culture is best demonstrated by the strong retention of our clients and investment professionals. PPM was again named one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We attract professionals who exhibit humbleness, directness, and dedication. PPM’s values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career. Values At PPM, our values are reinforced in our culture every day. We act like owners. Integrity guides all that we do, and we are committed to exercising sound judgment in every decision that impacts the company and serves our clients. We are passionate about investment performance and driving results. We are relentless in our efforts to provide best in class service. We strive to build strong and lasting relationships with our clients, seeking to gain trust in everything we do. We work collaboratively with transparency and accountability. We operate as a team. We rely on each other, are accountable to each other, and respect each other. We value differences and unique perspectives and embrace the principle that great ideas can come from anyone. We embrace change. We are not afraid to challenge the status quo in search of a better, smarter or faster solution. We value learning, challenge ourselves and motivate others. We are also committed to positively impacting our community. As a firm, we invest time, experience and fundraising efforts with our non-profit partners. At PPM, we offer volunteer opportunities to get involved with a network of peers and support the causes that are important to you. Your passion and talents can make a lasting impact on our organization and our community. Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company. Portfolio Services The Portfolio Services Department is a dynamic, fast-paced team that provides a broad spectrum of operational support to PPM and fiduciary oversight of its client investments and assets. The Department supports all asset management activities in the trade lifecycle, including portfolio management, trade execution, and client reporting. Functionally oriented teams include: Public Securities & Private Investment Operations, Derivatives Administration, Performance Analytics, Data Management and Business & Product Reporting. A high level of collaboration coupled with extensive cross-training promotes flexibility, scalability and professional development. Portfolio Services is centrally positioned to engage with PPM’s investment and administrative teams to meet the firm’s strategic objectives. The department maxim is to be indispensable to our clients through timely, complete and accurate execution of roles and responsibilities. Private Investment Operations provides a centralized and coordinated function supporting investment grade private credit, broadly syndicated bank loan, and CLO. The team is responsible for trade processing and settlement activities, daily cash availability reporting, portfolio investment accounting, refinancing and restructuring activity and other ad hoc syndicated loan and investment grade private credit activities. The team’s day-to-day activities include direct engagement with various teams including Investment Management, Performance Analytics, Public Securities Operations, IT, internal and external service providers and clients. The team maintains a highly collegial and collaborative environment with clear operational accountabilities and a focus on skill development and advancement, use of technology, and process optimization. Job Purpose The Private Investment Operations Analyst, Private Credit supports the private credit strategies that PPM manages, which include investment-grade private credit (private placements), credit tenant leases (CTLs), private asset-backed securities (ABS), variable funding notes (VFNs), and other private credit instruments. The Private Investment Operations Analyst, Private Credit exhibits a high attention to accuracy and detail and an eagerness to learn. This role involves significant interaction with investment team members as well as other process owners, subject matter experts, and stakeholders. This role regularly collaborates with external legal counsel, clients, and their service providers to manage position life cycle activities and ensure that the IBOR is complete and accurate.

Requirements

Knowledge of private credit operations highly preferred.
Knowledge of private credit documentation (Note Purchase Agreements, indentures, physical notes, bond powers, credit agreements) preferred.
Critical thinking, analysis, troubleshooting, and problem-solving skills.
Ability to prioritize and independently manage multiple deadlines.
Strong written and verbal communication skills.
Unquestionable professional integrity.
Strong teamwork-based approach to work and collective activities.
Bachelor's Degree required.
2+ years of practical hands-on experience related to institutional investment management operational responsibilities, preferably with insurance or buy-side manager, required.

Nice To Haves

Experience with and skills using Blackrock’s Aladdin applications (Trade Entry, Dashboard, Cash tools) preferred.

Responsibilities

Coordinate operational aspects of private investment trade activity including:
Prepare and coordinate closing and exchange documentation between internal teams and external parties (counsel, custodians, issuers, brokers)
Manage funding instructions
Research and resolve outstanding cash/position reconciling items.
Reconcile IBOR security details (i.e. attributes, rates, payment schedules) or cash/position discrepancies
Coordinate physical note activity with clients including re-registration, bond powers, note splits and delivery instructions
Assist with preparation of client reporting and audit responses
Promote continual processes improvement by:
Identifying risks and developing and overseeing mitigating controls
Identifying, recommending and implementing process efficiencies
Work collaboratively with other Private Investment Operations team members:
Provide additional operational support where and when needed
Assist with “ad hoc” and special client/business driven projects
Participate and provide cross training with the Public Securities Operations team on an ad hoc basis
Performs other duties and/or projects as assigned.

Benefits

At PPM, we offer volunteer opportunities to get involved with a diverse network of peers and support the causes that are important to you.
Your passion and talents can make a lasting impact on our organization and our community.
Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives.
The plans and programs listed below are offered in collaboration with our parent company.
Competitive salary and bonus
Medical, dental and vision coverage
401k retirement plan with dollar-for-dollar matching contributions (up to 6% of salary)
Tuition and professional certification reimbursement
Paid parental leave
Adoption assistance
Holidays and paid time off
Paid time off to volunteer