Investment Banking Associate, Restructuring

B. Riley Securities•New York, NY

1d•$160,000 - $180,000

About The Position

B. Riley Securities is seeking a full-time Associate to join its Restructuring group in New York, NY or Red Bank, NJ. The group advises companies, boards, creditors, sponsors and investors on in-court and out-of-court restructurings, recapitalizations, distressed M&A, rescue financings and strategic alternatives. The Associate will own analytical workstreams, manage analysts, and work directly with clients, creditor groups, counsel and other advisors from mandate through resolution. Lean deal teams provide Associates with early and substantial responsibility, including leading models and transaction materials, participating in negotiations, and presenting to management teams and boards. Candidates may come from restructuring investment banking groups or restructuring advisory and turnaround firms. The position reports to the Head of Restructuring. The base salary range is $160,000 to $180,000, and the position is eligible for quarterly bonuses.

Requirements

2 to 5 years of experience in a restructuring, special situations or liability management investment banking group, or at a restructuring advisory or turnaround consulting firm.
Direct experience with in-court and/or out-of-court restructurings, distressed M&A, recapitalizations or liability management transactions.
Advanced financial modeling and valuation skills, with fluency in credit documents, capital structures and recovery analysis.
Experience supervising and reviewing junior work.
Exceptional verbal and written communication skills.
Ability to multitask, prioritize and perform under pressure in a fast-paced, entrepreneurial environment.
Bachelor's degree required.

Nice To Haves

Familiarity with the Chapter 11 process and case reporting, such as MORs, SOFAs, DIP budgets and budget-to-actual reporting.
MBA or CFA.
FINRA SIE, Series 79 and Series 63 licenses.

Responsibilities

Build and manage complex financial models, including cash flow and liquidity budgets, recovery and waterfall analyses, debt capacity builds, and other detailed valuation models.
Analyze capital structures, credit agreements, indentures, covenants and stakeholder positions.
Evaluate strategic alternatives for debtors, creditors, sponsors and investors, including liability management, distressed M&A, 363 sales, DIP and rescue financings.
Coordinate due diligence and execution with clients, counsel, lenders, investors and other transaction advisors.
Prepare restructuring presentations, creditor and board materials, CIMs, teasers and other transaction documents.
Support court-related work, including first-day and other declarations, valuation reports, liquidation and plan feasibility analyses supporting disclosure statements, and expert testimony preparation.
Communicate deal dynamics clearly to clients and deal team members, including senior bankers and management, to keep relevant parties informed of timelines and priorities.
Staff, review and train analysts, and ensure zero-defect work product across the team.
Support pitches and new business development, and partner with other B. Riley businesses on client solutions.
Participate in recruiting, training and mentoring.