Manager, CDO/CLO Operations

TCW • Los Angeles, CA, US • 3d ago

Position Summary

The Manager, CDO/CLO Operations manages daily operations and provides leadership and oversight to the CDO/ CLO operations team. This role requires a deep understanding of CDO/CLO mechanics, including overseeing warehouse servicing, analyzing indentures, compliance testing, hypothetical analysis, cash flow projection. Daily communication and interface with senior managers, underwriters, swap counterparties and trustees. Leading a team monitoring and managing timely reconciliation of all TCW CDO/ CLO’s. Collaborating with vendors to ensure appropriate delivery of outsourced services. The role involves providing executive-level reporting, establishing oversight and controls, and managing an expanding area of the business, effecting change, enhancing operational efficiencies, and driving strategic initiatives.

Essential Duties

Provide outstanding support to Portfolio Management to ensure accurate daily provision of cash and position data for portfolio monitoring and trading.
Oversee the calculation and analysis of coverage and collateral quality tests, portfolio concentration limitations, and other tests as specified by indentures.
Ensure timely and accurate responses to Portfolio Managers' requests for hypothetical analysis and cash flow projections.
Supervise the monitoring of security-specific transactions and their impact on CDOs and CLOs.
Provide strategic oversight of interactions with underwriters, trustees, and swap counterparties on trades, payments, and other operational matters.
Manage the accurate accounting and distribution of principal and interest from portfolio assets.
Direct the relationship management with WSO/Markit for CLO servicing, including compliance, settlements, reconciliation, and reporting.
Oversee the reconciliation of cash flows and positions daily, ensuring accuracy in coupon payments and waterfall distributions.
Interface with CDO/CLO trustees to ensure precise and timely reconciliation, data accuracy, and resolution of discrepancies.
Supervise warehouse servicing for new CLOs and cultivate positive trustee relationships to address data inaccuracies.
Engage with rating agencies regarding rating actions and inquiries related to CDO liabilities.
Provide executive-level consolidated reports to portfolio managers, trustees, and underwriters, and update senior management on reconciliation status and exception resolutions.
Lead internal collaboration with Risk and Legal departments to resolve issues related to CDO/CLO management and report risks, as necessary.
Lead the development and implementation of advanced automation solutions and technology to optimize CDO/CLO operations.
Design and manage functionalized workflows and robust training programs for team members.
Mentor and develop a high-performing team, fostering their professional growth and ensuring competency in their roles.

Required Qualifications

Bachelor’s degree in finance, economics, or a related field; advanced degree or professional certification preferred.
10+ years of investment industry experience, including extensive expertise in CDOs and CLOs.
Advanced knowledge of fixed income securities, bank debt, and CDO/CLO documentation.
Proven experience in a senior supervisory or management role, with a strong background in automation, technology, and functionalized workflows.
Demonstrated ability to provide executive-level reporting, establish oversight and controls, and effect organizational change.
Proficiency in Microsoft Excel and other relevant software.

Professional Skills Qualifications

Exceptional analytical, problem-solving, and computer skills.
Effective communication and interpersonal skills, with the ability to present information effectively to executives, investors, and stakeholders.
Excellent time management, organizational skills, and attention to detail.
Capacity to work independently and collaboratively in a dynamic environment, demonstrating resourcefulness and initiative.