Securitization Financing Portfolio Management - Analyst
RBC Capital Markets, LLC, Wilmington, DE, United States
Job Description
PURPOSE:
This role is part of Securitization Financing Portfolio Management (SFPM), a cross-functional specialized team that provides critical functions to RBC Capital Markets' Securitization Finance business within Global Markets. SFPM supports transactional execution in the US, Canada, Europe and APAC for securitization transactions funded on RBC's balance sheet or via commercial paper conduits. SFPM also conducts ongoing collateral monitoring, administration and reporting on a large and diverse portfolio of bespoke private securitization transactions across 25+ asset classes for over 125 clients.
SFPM manages seven finance companies, six of which are separate entities providing funding to clients through the US and Canadian ABCP markets. SFPM is a center of excellence supporting structured finance transactions and includes operational, compliance, project management, front office origination, finance/accounting responsibilities and data compilation for internal and external constituents, while ensuring compliance with applicable by-laws, transaction documents, and internal policies.
Principal Responsibilities
Work with SFPM team members to oversee and coordinate day-to-day management of 2 US RBC-administered ABCP conduit programs
Serve as first line of defense for ongoing collateral monitoring for designated transactions. Identify portfolio aberrations, deterioration, or breaches of deal triggers
Assist with creating and maintaining custom seller report templates used to validate collateral reporting and borrowing base compliance and to track and store historical portfolio information
Enter key monthly portfolio statistics into securitization collateral tracking systems to monitor risk, recalculate metrics on client reports and produce reporting
Produce, review, finalize and distribute periodic reporting to commercial paper investors, rating agencies, risk management and other internal and external constituents
Help set portfolio administration standards and metrics to be monitored; develop procedures to ensure consistent and accurate reporting for new and existing transactions
Coordinate and lead deal closing and funding meetings with all relevant parties
Participate in due diligence meetings for new and existing clients
Review deal AUP audit reports and follow up with Origination team on findings
Assist with annual external audits of the 2 US ABCP conduits and periodic internal/external business audits
Develop knowledge of transactions and understand legal documents to populate and maintain deal data in KME proprietary application
Review administration sections of legal documentation to ensure bank operations or sub-agent (conduit deals) can book and properly administer the transaction
Ensure required deal-related documentation is retained
Facilitate onboarding of new clients or refresh of existing clients for AML/KYC with the Origination team
Work with internal and external business partners to resolve operational or other issues
Participate in projects to implement new products, transaction types or expand existing products to new jurisdictions; include process or system enhancements
Identify operational risks and control deficiencies in the business
Review and comply with Firm Policies applicable to business activities
Escalate operational risk loss events and control deficiencies to the line manager and risk/control functions promptly; failure to do so may lead to disciplinary action
Job Specifications and Qualifications
MBA or undergraduate degree in finance, economics, accounting or mathematics preferred but not required
1-3 years of prior securitization experience at a financial institution, rating agency, issuing client or buy-side firm preferred but not required
Solid understanding of capital and credit markets
Strong attention to detail
Strong quantitative and analytical skills
Ambitious individual with strong presentation skills
Strong written and oral communication skills
Ability to prioritize and effectively manage a large workload in a high-pressure environment
Ability to multi-task with little supervision
Ability to interact effectively and establish good working relationships with RBC Capital Markets and external clients
High proficiency in Word, PowerPoint and Excel
Authorities, Impact, Risk
The position is based in Wilmington, DE
Role requires daily close integration with various RBC Securitization origination teams to ensure successful transaction execution, administration, collateral monitoring and reporting for bespoke securitization and structured products transactions
Employee is expected to conduct themselves in a manner consistent with the Securitization Financing group's business strategy of providing high-quality products and services for RBC's clients
Employee is expected to identify and quantify material transaction and product risk to provide a favorable risk/return profile for RBC
All respective approvals (business, credit, conduit) will be obtained for all transactions and activities as needed
Risks inherent in the Securitization Finance business include: credit, liquidity, documentation, mismatch, structural, servicing/administrative, complexity and reputational risk
Key Relationships Internal
Various origination teams in Securitization Finance
Various operations groups in US, Canada, UK and APAC
Financial and Regulatory Reporting groups, both local and head office
Compliance
Group Risk Management
Legal Department
Tax Department
External
Clients
Other Financial Institutions
Rating Agencies
Legal Firms
Conduit Equity Provider
Outside Vendors
Working Conditions
Position may require limited travel to other US and international RBC offices
Working conditions can be stressful at times
Considerable attention to detail is required
Hours may be long and can be highly unpredictable
The employee should be able to prioritize and multi-task in a fast-paced environment
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This role is part of Securitization Financing Portfolio Management (SFPM), a cross-functional specialized team that provides critical functions to RBC Capital Markets' Securitization Finance business within Global Markets. SFPM supports transactional execution in the US, Canada, Europe and APAC for securitization transactions funded on RBC's balance sheet or via commercial paper conduits. SFPM also conducts ongoing collateral monitoring, administration and reporting on a large and diverse portfolio of bespoke private securitization transactions across 25+ asset classes for over 125 clients.
SFPM manages seven finance companies, six of which are separate entities providing funding to clients through the US and Canadian ABCP markets. SFPM is a center of excellence supporting structured finance transactions and includes operational, compliance, project management, front office origination, finance/accounting responsibilities and data compilation for internal and external constituents, while ensuring compliance with applicable by-laws, transaction documents, and internal policies.
Principal Responsibilities
Work with SFPM team members to oversee and coordinate day-to-day management of 2 US RBC-administered ABCP conduit programs
Serve as first line of defense for ongoing collateral monitoring for designated transactions. Identify portfolio aberrations, deterioration, or breaches of deal triggers
Assist with creating and maintaining custom seller report templates used to validate collateral reporting and borrowing base compliance and to track and store historical portfolio information
Enter key monthly portfolio statistics into securitization collateral tracking systems to monitor risk, recalculate metrics on client reports and produce reporting
Produce, review, finalize and distribute periodic reporting to commercial paper investors, rating agencies, risk management and other internal and external constituents
Help set portfolio administration standards and metrics to be monitored; develop procedures to ensure consistent and accurate reporting for new and existing transactions
Coordinate and lead deal closing and funding meetings with all relevant parties
Participate in due diligence meetings for new and existing clients
Review deal AUP audit reports and follow up with Origination team on findings
Assist with annual external audits of the 2 US ABCP conduits and periodic internal/external business audits
Develop knowledge of transactions and understand legal documents to populate and maintain deal data in KME proprietary application
Review administration sections of legal documentation to ensure bank operations or sub-agent (conduit deals) can book and properly administer the transaction
Ensure required deal-related documentation is retained
Facilitate onboarding of new clients or refresh of existing clients for AML/KYC with the Origination team
Work with internal and external business partners to resolve operational or other issues
Participate in projects to implement new products, transaction types or expand existing products to new jurisdictions; include process or system enhancements
Identify operational risks and control deficiencies in the business
Review and comply with Firm Policies applicable to business activities
Escalate operational risk loss events and control deficiencies to the line manager and risk/control functions promptly; failure to do so may lead to disciplinary action
Job Specifications and Qualifications
MBA or undergraduate degree in finance, economics, accounting or mathematics preferred but not required
1-3 years of prior securitization experience at a financial institution, rating agency, issuing client or buy-side firm preferred but not required
Solid understanding of capital and credit markets
Strong attention to detail
Strong quantitative and analytical skills
Ambitious individual with strong presentation skills
Strong written and oral communication skills
Ability to prioritize and effectively manage a large workload in a high-pressure environment
Ability to multi-task with little supervision
Ability to interact effectively and establish good working relationships with RBC Capital Markets and external clients
High proficiency in Word, PowerPoint and Excel
Authorities, Impact, Risk
The position is based in Wilmington, DE
Role requires daily close integration with various RBC Securitization origination teams to ensure successful transaction execution, administration, collateral monitoring and reporting for bespoke securitization and structured products transactions
Employee is expected to conduct themselves in a manner consistent with the Securitization Financing group's business strategy of providing high-quality products and services for RBC's clients
Employee is expected to identify and quantify material transaction and product risk to provide a favorable risk/return profile for RBC
All respective approvals (business, credit, conduit) will be obtained for all transactions and activities as needed
Risks inherent in the Securitization Finance business include: credit, liquidity, documentation, mismatch, structural, servicing/administrative, complexity and reputational risk
Key Relationships Internal
Various origination teams in Securitization Finance
Various operations groups in US, Canada, UK and APAC
Financial and Regulatory Reporting groups, both local and head office
Compliance
Group Risk Management
Legal Department
Tax Department
External
Clients
Other Financial Institutions
Rating Agencies
Legal Firms
Conduit Equity Provider
Outside Vendors
Working Conditions
Position may require limited travel to other US and international RBC offices
Working conditions can be stressful at times
Considerable attention to detail is required
Hours may be long and can be highly unpredictable
The employee should be able to prioritize and multi-task in a fast-paced environment
#J-18808-Ljbffr