Vice President

Oaktree Capital Management, L.P.•New York, NY

1d•$225,000 - $275,000•Hybrid

About The Position

Oaktree is a leader among global investment managers specializing in alternative investments, with more than $220 billion in assets under management. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,500 employees and offices in more than 25 cities worldwide. We are committed to cultivating an environment that is collaborative, curious, inclusive and honors diversity of thought. Providing training and career development opportunities and emphasizing strong support for our local communities through philanthropic initiatives are essential to our culture. The Oaktree ABF strategy: Oaktree Asset Backed Finance (“ABF”) is a step-out strategy which invests in pools of contractual assets, such as loans, leases, receivables, mortgages and licensing agreements, which may or may not reference property or other hard assets. Asset categories include corporate, consumer, real estate, transportation, equipment, infrastructure, energy, intellectual property and other esoteric types. On behalf of ABF funds and clients, Oaktree Purchases, or commits to purchase, assets, with or without leverage Lends, or commits to lend, secured by assets, in a senior or mezzanine position Insures, or provides capital relief against, assets Provides essential capital to a business primarily engaged in the origination and servicing of assets While Oaktree has significant experience successfully investing client capital in ABF opportunities as a sub-allocation to existing funds, Oaktree ABF represents Oaktree’s first client offering dedicated to ABF. Based on the expanding ABF opportunity set and client demand both in unrated ABF and formally rated investment grade ABF (IG ABF), Oaktree ABF is expected to grow significantly. Oaktree judges the ABF Strategy’s success and value by outcomes delivered to clients, consistent with or exceeding expectations, over the medium and long term. The Vice President will be our team’s first IG focused ABF hire and will be primarily responsible for structuring IG ABF investments and working with other members of the ABF group, contributing to all phases of the investment process, from sourcing, through decision points, to investment realization.

Requirements

6-10 years relevant experience within asset finance or structuring at an investment bank or investing across securitized collateral types at an investment manager.
Facility with Excel and PowerPoint, commensurate with years of experience.
Strong experience reviewing financial agreements for relevant business points and to find answers to specific questions.
Knowledge of fixed income fundamentals, asset backed finance and securitization, commensurate with years of experience.
Experience executing private asset-backed investments (without relying on an arranging bank to structure the investment).
Experience working with rating agencies and leading processes to rate ABS securities or other asset backed investments.
Knowledge of rating methodologies for or ability to get up to speed quickly across various sectors.
Experience with insurance companies and capital efficiency considerations for insurance balance sheets.
Familiarity with insurance capital, NAIC rating requirements or equivalent US and EU insurance-capital frameworks, including running processes to optimize ABS and ABF investments for insurance balance sheet investments.

Nice To Haves

Experience with CFO rating methodologies, rated feeders, NAV and ABL financing, preferred, but not required.
Experience with rated warehouse facilities preferred, but not required.

Responsibilities

Identify business objectives, constraints and preferences of various stakeholders, including originators, insurance clients, rating agencies and non-insurance capital providers.
Design financing arrangements which are both capital efficient for insurers and acceptable to all stakeholders.
Credibly manage stakeholder buy-in, structuring and modeling, rating outcome and transaction execution.
Follow up on introductions and inquiries of potential relevance to the ABF strategy, identify the situations where an investment can be rated and work with the investment teams to negotiate appropriate terms.
Work with rating agencies and financing counterparties on rated asset-backed lending facilities, including warehouse facilities and term-out structures for existing or ramping pools of contractual cash-flowing assets.
Help guide IG ABF product development and develop creative, capital-efficient solutions for insurance-company balance sheets, considering the constraints of insurance capital, including, but not limited to, NAIC rating requirements or equivalent non-US and EU frameworks.
Lead or participate in diligence, negotiation of terms and documentation, building models and preparing investment memoranda for consideration by the ABF investment committee for opportunities determined to be potentially attractive for Oaktree funds and suitable for rating and clients.
Train and supervise associates and analysts on the ABF team.
Train and educate the ABF investment team on rating and structuring techniques.
Gain familiarity with Oaktree’s various pools of capital available for ABF investments, including the constraints imposed by fund investment guidelines, capital considerations, regulators, rating agencies and Oaktree’s internal policies and procedures.