Waterfall Asset Management, LLC is an SEC-registered alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity. Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking, and servicing experience. Waterfall seeks to provide its client a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is headquartered in New York, with additional offices in London, and Dublin. As of May 31, 2024, Waterfall approximately $12.8 billion in assets under management.
Job Description
The Analyst role, within the corporate credit vertical of the Bonds Trading group, will be responsible for assisting with portfolio management, collateral analysis, modeling, covenant tracking, and documentation analysis, for corporate credit investments within the Bonds Trading group.
Specific job responsibilities include:
- Build and maintain comp sheets and internal models across focus sectors: mortgage finance and housing ecosystem, commercial real estate, consumer and specialty finance, banks, aviation, and others
- Monitor current and pro-forma covenant compliance
- Monitor portfolio pricing and maintain cashflow projections
- Assist with asset management responsibilities across the portfolio
- Prepare monthly reports for desk analytics
- Coordinate with other teams for periodic reviews and provide commentary where needed
- Underwrite and assist in making investment decisions for new and current investments:
- Analyze financial data, create models with sensitivity scenarios
- Follow company earnings and update internal models based on updated data
- Assist in preparation of investment memorandum
- Communicate with and maintain active dialogue with Wall Street relationships including sales, traders, research analysts and management teams
- Assist in ad-hoc requests for statistics reporting, client services, trade management, etc.
- Participate in industry conferences
Qualifications and Education Requirements
- 1-2 years of relevant experience in a role focused on high yield corporate credit.
- Bachelor’s degree (BA/BS)
- Knowledge of corporate credit fundamentals, with a focus on covenant analysis.
- Experience working with both public and private company financials.
- Strong analytical skills.
- Excellent interpersonal skills to maintain relationships with third parties including: trading counterparties, issuers, bankers, and team members.
- Strong project management skills to manage a large volume of workflow in demanding and dynamic environment.
- Highly organized, self-motivated, diligent, and detail oriented.
- Significant initiative and team orientation required.
Waterfall Asset Management is an equal opportunity employer, and we value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
