Private Investment Operations Portfolio Associate, CLOs

PPM America • Chicago, IL

3d • Onsite

About The Position

PPM America, Inc. (PPM) is a US-based institutional asset manager established in Chicago in 1990. PPM is dedicated to consistently supporting institutional clients in achieving their long-term value goals through a hard work, straight talk, full transparency, and humility approach. Our success is driven by a team-based culture that fosters debate, collaboration, and consistency, believing that the best ideas can originate from any team member. We pride ourselves on the strong retention of our clients and investment professionals, a testament to our investment culture. PPM was recognized as one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We seek professionals who embody humbleness, directness, and dedication. Our values guide our internal conduct and shape our relationships with investors, affiliates, and partners. PPM is passionate about giving back to our clients, colleagues, and community, recognizing the importance of community and purpose in career choices. Our values are reinforced daily through our culture: acting like owners with integrity and sound judgment, being passionate about investment performance and results, providing best-in-class service, building strong client relationships based on trust, and working collaboratively with transparency and accountability. We operate as a team, relying on, being accountable to, and respecting each other, valuing diverse perspectives and the principle that great ideas can come from anyone. We embrace change, challenge the status quo for better solutions, and value learning, self-challenge, and motivating others. We are committed to positively impacting our community through time, experience, and fundraising efforts with non-profit partners, offering volunteer opportunities to engage with peers and support important causes. Our employees' dedication is reflected in the benefits offered, designed to support and enhance their personal and professional lives, in collaboration with our parent company.

Requirements

• Deep understanding of CLO indentures, CLO trustee reporting, payment waterfalls, and governing documents.
• Deep understanding of S&P, Moody’s, and Fitch ratings as they relate to CLOs.
• Ability to prioritize and independently manage multiple deadlines and clientele simultaneously.
• Advanced proficiency with the entire Microsoft Office Suite, with an emphasis on Excel, Word, and PowerPoint.
• Advanced proficiency in navigating Moody’s and S&P’s websites.
• Unquestionable professional integrity.
• Keen eye for detail required.
• Strong organizational and communications skills.
• Strong teamwork-based approach to work and collective activities.
• Critical thinking, analysis, troubleshooting, and problem-solving expertise.
• Bachelor's Degree, preferably in Accounting, Finance, Economics, Marketing or a related discipline, required.
• 3+ years of practical experience in CLO asset classes and Custodial/Trustee service requirements required.
• Extensive experience with operational processes involved in launching and closing CLO warehouses required.
• Extensive experience in preparing accurate and timely reports, analysis, and presentations for management and clients required.

Nice To Haves

• Knowledge of WSO systems (Administrator, Reporting, Compliance, Integration Utility tool) preferred.
• Knowledge of S&P Global platforms (Markit Pricing, Notice Manager, ADFlow) preferred.
• Knowledge of BlackRock’s Aladdin tool preferred.
• Proficiency in tools that promote data analysis, task automation, and/or visualization (i.e. Python, Power BI, JIRA, etc.) preferred.
• Experience in syndicated bank loan LSTA trade and settlement documentation, and the Clearpar Platform preferred.
• Additional credentials or progress toward an advanced degree or chartered industry designation (i.e., CFA, CPA, etc.) preferred.

Responsibilities

• Manages all operational aspects of launching and closing CLO warehouses including funding requests, review of flow of funds reports and related documentation, performing asset transfers, and coordinating closings with the trustee, clients, and other involved parties.
• Analyzes and interprets CLO indentures to validate CLO compliance testing, monitors and reconciles loan characteristics to compliance tests to ensure indenture and regulatory compliance, and produces trustee reports.
• Performs detailed reconciliations of CLO portfolio cash/holdings and CLO asset attributes to CLO trustee.
• Supports various CLO accounting activities including monitoring of expense invoices, calculation of management and trustee fees, and performing detailed analyses of waterfalls and cash flow distributions.
• Prepares client reports.
• Responds to client and investment manager inquiries in a timely, complete, and accurate manner.
• Effectively and efficiently coordinates new project/activity related work.
• Promotes continual process improvement by identifying, recommending, and implementing change and automation.
• Works collaboratively with other Private Investment Operations team members.
• Mentors and cross-trains others on CLO portfolio level reporting and other responsibilities.
• Mentors/oversees junior Portfolio Analyst execution of CLO responsibilities.
• Provides additional operational support where and when needed.
• Participates in and provides cross training with the Public Securities Operations team on an ad-hoc basis.
• Performs other duties and/or projects as assigned.

Benefits

• Competitive salary and bonus
• Medical, dental and vision coverage
• For eligible employees, $2 for $1 matching on 401k contributions, up to a max matching contribution of 12% of your eligible compensation.
• Tuition and professional certification reimbursement
• Paid parental leave
• Adoption assistance
• Holidays and paid time off
• Paid time off to volunteer

What This Job Offers

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