About 17Capital
17Capital is a private credit manager, specializing in NAV finance for the private equity industry. It provides non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management. Founded in 2008, 17Capital has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates.
In 2022, Oaktree acquired a majority interest in 17Capital. This mutually beneficial partnership strengthens the two firm’s standing as partners of choice in the private equity sponsor community. 17Capital operates as an independent business within the Oaktree family, with its own product offerings and investment, marketing, and support teams.
For more information, please go to www.17capital.com
17Capitals’ Values
Our values are the basis on which we build strong relationships with our clients, our investors and each other.
They are the foundation of our business and integral to our continued ability to pioneer success.
Build trust – We behave and act in ways that earn trust
Embrace “different” – We embrace new ideas and constantly strive to discover new ways of doing things
Make things happen – We are agile and responsive in a way that delivers success for all our stakeholders
Strive for excellence – We act with professionalism and adhere to our high standards
Overview of Department
The Fund Finance team currently comprises 13 team members who have responsibility across the preferred equity and credit funds. This is a rare opportunity to join an expanding and high-performing team supporting the ambitious growth plans of the business. The CFO has over 20 years’ experience and is supported by Finance Directors and Fund Controllers with significant PQE.
Position Summary
We are looking to add a Vice President, Investment Operations whose mandate will be to support the development and build-out of a dedicated function spanning Loan Administration, Investment Onboarding and Agency.
The primary purpose of the role will be to:
- Support the Investment Team (Front Office) on new product and servicing of deals; and
- Provide a Loans Middle Office function that will ensure 17Capital loan facilities are maintained accurately within the systems and controls available, ensure all facilities can be serviced and all drawings have been processed in a timely manner in accordance with 17Capital policies and procedures
The individual will work closely with the Investment Team, Legal and Fund Controllers on new deal execution, onboarding and syndications as well as being responsible for ongoing administration and valuation of loans, amongst other responsibilities. The candidate will seek to build relationships throughout 17Capital to establish a peer network, gather relevant information and help to ensure effective inter-departmental collaboration.
This is a hands-on role which offers the opportunity to drive improvements in Fund Operations at a leading and rapidly growing fund manager. The role is highly analytical, requires a keen eye for detail, ability to anticipate future events and propose solutions, and an enthusiasm for operationally developing the function and to use technology to harness efficiencies.
This role has a good balance of technical and commercial aspects and is a broad and varied role for the right individual. The function is a new one for 17Capital and represents an exciting opportunity to be involved with and influence the design and implementation of the function.
Role & Responsibilities
Investment Onboarding
- Attend new deal kick-off meetings with Investment Team, Legal and Fund Controllers
- Co-ordinate across Operations to ensure the deal is processed in a timely manner into systems
- Take responsibility for maintaining all deal documentation related to the execution and set-up of new loans (agreements, investment committee papers)
- Ensure commercial terms of deals required for loan operations is captured during the deal onboarding process – working with Tech Team to automate data capture
- Completion of investment checklists to ensure compliance with investment restrictions
Loan Administration
- Develop a detailed understanding of loan agreements across all 17Capital deals and be able to interpret how calculations should be implemented to accurately reflect the terms on the loans
- Develop and maintain relationships with investment counterparties – notably with their in-house finance and operations teams
- Work with counterparties and deal team to implement standardised URs/Notices to enable better data capture / governance
- Focus on Controls to ensure that all counterparties provide URs/Notices before draw and repayment requests are processed by Fund Administrator
- Ensure that all draws and repayments are logged in cash flow system with UR/Notice back-up on a real-time basis
- Develop Controls framework for internal reviews and approvals of loan cash flow data going into in-house systems, including reconciliation with URs/Notices, bank statements and Administrator records
- Work with counterparties to obtain Monitoring Data, Compliance Certificates and Reporting in a standardised fashion and to deadline
- Use in-house models to prepare Interest Repayment calculations and agree amounts with Deal Team before reverting to Counterparty
- Use in-house models to prepare quarterly Valuations of loan positions to deadline and liaise with Fund Controllers to complete internal review and approvals process
- Ensure Valuation Committee packs are prepared from the Tech Platform to deadline and liaise with Fund Controllers to complete internal review and approvals process
- Attendance at Valuation Committee meetings
Agency
- Develop and maintain relationships with external loan agencies
- Formalise the internal agency function by developing and documenting internal procedures and policy documents
- Develop process and Controls framework for reconciling loan/interest and collateral values provided in compliance certificates with internal data sets
- Work with Partners to document approved methodologies for syndication commercial terms and calculation of pricing
- Support Deal Team, IR and Fund Controllers on syndication workflows
- Responsible for tracking co-invest counterparties and Committed amounts by Funds, SMAs and Co-invests over time
Person Specification
Essential
- At least 6 years of experience in loan servicing (settlements, reconciliations, etc.), including utilising market leading loan administration and portfolio management systems
- Experience in servicing private credit investments on behalf of third-party clients, preferably in a private credit fund manager
- Proven ability to design and implement new operational processes for private credit strategies
- Interest in the use of technology-based solutions to reduce reliance on excel and inputting to
- Highly analytical with prowess for working with high volumes of numerical data
- Strong attention to detail combined with commercial awareness
- Ability to perform at a high level in complex scenarios dealing with multiple external counterparties
- Interest in private markets asset classes and strong desire to work in the sector
Desirable
- Private credit experience
- Modelling/advanced user of MS Excel or using reporting using Power BI / structured data
- Experience supporting on implementation of Loan Administration Systems
Individual profile
- Team player with a willingness to learn and engage
- Conscientious, hard working with excellent attention to detail
- Adaptable to changing work demands and ability to work across multiple deals or workstreams concurrently
- Able to manage time effectively and prioritise tasks
- Excellent interpersonal and stakeholder management skills
Key Relationships and Stakeholders
Internal
- Fund Controllers and Accountants
- Loan Operations
- Investment Professionals
- Senior Management Team
External
- Banks
- FX and Financial Risk management advisor
We can offer you:
- Career development
- Opportunity to learn and grow whilst making a meaningful contribution to the expansion of the 17Capital platform during an exciting time of the firm’s life cycle
- Competitive reward and benefits
The base salary for this position is expected to be between $150k – $200k. Salaries may vary based on factors, such as skills, experience, and qualifications for the role, as determined by the Company at its sole discretion. The range listed reflects base salary only, and the total compensation package may include other components such as discretionary incentive compensation.
17Capital is an equal opportunity employer and does not discriminate based on race, religion, gender, age, sexuality, gender identification, or physical ability. If you have a disability and need an adjustment during the application and hiring process, including support for the interview or onboarding process, please contact recruitment@17capital.com.
