Alternative Credit Analyst

‘Rothesay’ is a UK insurance company established in 2007 and built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £73bn of assets and securing pensions for c.1 million people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.

Rothesay Asset Management North America is headquartered in NYC and focusses on sourcing long-dated fixed income assets in North America. Since being established in 2018, it has originated over $12.5bn of high-quality investments for the UK balance sheet.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

In general, we are looking for a smart, commercial individual with an excellent academic record, strong quantitative and problem-solving abilities and a high degree of adaptability, with a genuine intellectual appetite to expand their existing skillset.

Job title: Alternative Credit Analyst

Reports to: Head of US Alternative Credit

Location: New York City, NY

Job Responsibilities:

Deal evaluation

Conduct detailed credit analysis and underwriting of illiquid lending opportunities in US investment grade credit markets, including identification and assessment of risks and running scenario analyses. Diverse possible range of asset classes including Fund Finance, hard assets and high-quality IG corporates
Analyse loan structures and covenant packages
Propose appropriate debt pricing supported by relative value and other financial analysis, including creating and using bond pricing models
Build and run financial models to analyse investment opportunities, test assumptions and run sensitivities
Prepare detailed investment and credit committee papers which concisely present the opportunity, clearly identify and assess the risks of the deal and present appropriate loan and internal metrics for consideration
Participate in presentation of investment committee papers to committee of senior decision makers
Liaise with internal and external parties as required to complete the analysis on a potential deal and prepare investment and credit committee papers

Deal execution

Support the closing of debt transactions
Review due diligence reports and robustly challenge assumptions and conclusions to ensure that the due diligence process has been thoroughly completed and potential risks identified
Review and input into commercial aspects of the loan agreement and ensure that the loan document reflects commercially agreed position
Prepare and participate in presentation of final credit committee papers incorporating final risk assessment and significant findings of due diligence
Demonstrate strong commercial judgement and project management skills to assist in the management of internal parties involved in the loan execution process as well as 3rd party advisors and borrowers

Skills and Experience Required:

Shortlisted candidates will be able to demonstrate large loan deal evaluation and execution experience in a top tier financial services firm, as evidenced by:

A minimum of two years in a deal evaluation/execution role, preferably focussed on US Alternative Credit markets
Strong Education background: Bachelor’s degree (or higher) from a leading university in a relevant highly quantitative degree such as mathematics, economics, finance, or related scientific area
Excellent financial modelling skills with ability to build advanced models
Experience in conducting due diligence
Experienced user of core Office applications including Excel, experience with Bloomberg beneficial
Investing in debt or hard assets with NPL / workout experience beneficial
Strong prioritization, organization and time management skills

Disclaimer: This description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of duties. The role shall be performed within a professional office environment. Rothesay actively promotes diversity and inclusivity in accordance with and subject to all applicable laws. We know that our success depends on our people and that by nurturing a culture that values each individual and their differences, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age etc.