Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, and London. Since its founding in 1999, the firm has raised over $40 billion in capital across its Private Equity and Private Debt businesses. With more than 400 employees and approximately 180 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
POSITION SUMMARY:
Audax Private Debt is seeking an Operations Manager to become a key contributor and leader on a high-performing Finance & Operations team. This position is responsible for providing operational and financial support to the Audax Private Debt investment, investor relations, and management teams. Audax Private Debt invests in debt securities of middle market companies backed by private equity sponsors via a variety of different investment vehicles. You will work with the team to build a scalable operations and financial platform that promotes an environment of compliance, efficiency, accuracy, quality, and control.
The ideal candidate is a self- motivated team player with strong technical skills able to materialize concepts into effective, concise and timely action plans. True to the Audax entrepreneurial spirit, the ideal candidate must be equally comfortable operating as a “doer” in the details as he/she is in driving business initiatives. As Audax Senior Debt grows and matures, the position is expected to evolve with the direction and input of the candidate. This is an opportunity to join a growing platform at a well-established firm and work with a team that is lean, extremely cohesive, and very collegial.
RESPONSBILITIES:
Specifically, initial responsibilities will include:
- Management of the trade and settlement process
- Oversight of an Operations Analyst/Associate
- Administration of WSO systems
- Coordinate with AlterDomus on agency related matters
- Work closely with investment team in tracking investment pipeline, mandates and closing
- Work with the investment team to review and/or create required materials for deal closing; credit agreement review, funds flow preparation, closing checklist maintenance, KYC requests
- Assist with Lead Agent responsibilities and manage external 3rd party sub-agent services
- Coordinate funding of DDTL and Revolver draws including syndicate members
- Review/Prepare assignment and transfer agreements
- Development of procedures to ensure compliance and documentation
- Management of the treasury function
- Preparation, execution, and documentation of outgoing wires
- Processing and monitoring of capital calls, withdrawals, and distributions
- Administration of bank and custody accounts
- Maintenance of investor and related party wire instructions
- Execution of leverage facility advances and pay downs
- Coordination with the team to produce reporting packages
- SEC Filings, including ADV and Form PF
- Support Finance team in financial reporting process on an as needed basis
- Assist the team with audit requests related to deal and credit / leverage facility activity
Additionally, future responsibilities will include:
- Liquidity management in collaboration with the deal team
- Trade and cash activity monitoring to determine cash needs and funding sources
- Dry powder monitoring and reporting
- Capital call and distribution calculation
- Monitoring and execution of cash sweeps (including at leverage SPVs and cash accounts)
- Management of credit facilities
- Operational diligence relating to new fund or account formation
- Review of legal documentation to determine operational needs and identify any outliers
- Development of procedures to onboard new clients and ensure compliance with any requirements
- Ownership of all investment position data
- Promotion of a data standard for capturing all investment level data (positions, attributes, etc)
- Oversight of timely and accurate data capture
- Review of outsourced loan administration services for cost and efficiency optimization
- System design and implementation
- Active engagement in the implementation of Black Mountain as a front/middle office system (Trade, Compliance, Portfolio Management) via participation in design meetings, workflow mapping, data migration, and testing
- Identification and design of new and continuing reporting needs to promote efficiency and accuracy via automation
REQUIREMENTS/QUALIFICATIONS:
- Bachelor’s degree in Finance, Accounting, or a related major, with an advanced degree or certification a plus (MBA, MF, MA, CPA, CFA, CAIA, CIPM)
- Minimum of 8 years of relevant professional experience in an alternative investment manager in an operational or financial support role
- Thorough understanding of leveraged loans, specifically private senior debt, including the underlying market for their origination, assignment, and syndication
- Previo
- us experience with BDCs or CLOs a plus Advanced Excel user with experience in loan administration software (WSO, Geneva) and fund accounting software (Investran, TNR, PEO)
- Strong organizational skills with the ability to multi-task and prioritize workload
- Strong interpersonal and communication skills
- Ability to effectively engage and lead a team
LOCATION: Boston, MA or Charlotte, NC. For Boston candidates, this is a Hybrid position: 3 days/week in the Boston office. For Charlotte candidate, this would be remote/hybrid in the near future. These in-office requirements may change based on the needs of the business.
The base salary range for this position is $120,000 - $150,000. The base salary range represents the estimated low and high end for this position at the time of this posting. Consistent with applicable law, compensation may vary and will be determined based on but not limited to, the skills, qualifications, and experience of the applicant along with the requirements of the position, and Audax reserves the right to modify this pay range at any time. An employee may also be eligible for annual discretionary incentive compensation based on performance.
Audax offers a wide range of employee benefits, including health insurance, life insurance, disability insurance, paid time off (including sick leave, parental leave, volunteer leave, and vacation), charitable donation match, family support services (including Bright Horizons and Benefit Advocate Center), and a 401(k) in addition to other benefits.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Audax Management Co. is an equal opportunity employer.
Please note that Audax Group and its affiliated entities do not accept unsolicited resumes from a third-party recruiting agency not currently under a signed agreement. Any unsolicited resume that is sent to directly to Audax Group or one of its affiliated entities, or its employees, including those submitted to hiring managers by a third-party recruiting agency not currently under a signed agreement, will be considered property of Audax Group. If a third-party recruiting agency submits a resume without an agreement, Audax Group or its affiliated entities explicitly reserves the right to pursue and hire those candidate(s) without any financial obligation to the third-party recruiting agency. Any third-party recruiting agency should contact either a member of the Talent Acquisition or Human Resource team at Audax Group, in conjunction with a valid, fully executed contract for service based upon a specific job opening.
