New York, NY
Deloitte Advisory –Securitization Capital Markets Services:
Deloitte’s Securitization Capital Markets Services team is solely focused on helping our clients successfully execute capital markets transactions. Our securitization professionals are engaged on performing agreed-upon procedures on new issuance securitization transactions related to Agency Mortgaged-Backed Assets (MBS), Asset-Backed Securities (ABS), Commercial Mortgage-Backed Securities (CMBS) and Residential Mortgage-Backed Securities (RMBS), in addition to closing date and effective date procedures related to Collateralized Loan Obligations (CLO). Our services include asset level file review, capital structure cash flow modeling, recomputing advanced asset and bond analytics and review of relevant offering documents. We maintain a broad portfolio of clients, who issue transactions across a diverse list of asset classes including: credit default swaps, high yields bonds, investment grade bonds, leveraged loans, single-family residential, multifamily, commercial, auto, equipment, single family rental, marketplace lending, timeshare, student loans, credit cards and various esoteric assets, such as cell towers, containers, railcars, solar/pace, tax liens, tobacco settlements, whole business and others. Our clients include primary broker dealers, investment banks, asset managers and various loan originators/issuers in the fixed income industry.
We are looking for managers to join our growing and award-winning Securitization practice. We are specifically seeking professionals that will be dedicated to the CMBS, ABS/RMBS or CLO portions of our practice.
A candidate for this Manager role would be responsible for leading communications with clients, attorneys and other professionals within Deloitte and the industry. In addition, for each proposed securitization transaction, you will play a substantive/lead role on each engagement’s execution, planning, economics and billing. A candidate is also expected to demonstrate a general knowledge of market trends, competitor activities and Deloitte’s products and services, in order to identify opportunities to cross-sell other services.
Essential functions of a Manager include:
- Overseeing team of consultants and senior consultants related to performing agreed upon procedures on each securitization transaction engagement using various software applications (proprietary loan file review system, VBA-based cash flow modeling tool, Collateral Analysis System (“CAS”) and industry system platforms – Bloomberg, Intex and TREPP)
- Help develop and maintain proprietary securitization collateral and cash flow models, analyze results and provide explanations for discrepancies to ensure compliance with each transaction’s offering documents.
- Thoroughly read through offering documents and provide comments on the collateral analytics, waterfall and various conceptual descriptions
- Manage expectations of deliverables and timing with Underwriters, Issuers, Attorneys and engagement teams.
- Responsible for preparing and issuing Agreed-Upon Procedure reports and invoices
- Provide and monitor constructive on-the-job feedback and conduct performance reviews, train first year and junior analysts on common loan file reviews, collateral analytics, modeling structures and troubleshooting techniques
- Develop, build and maintain strong client relationships.
- Contribute to a positive team environment by taking an active role in counseling and mentoring consultants and senior consultants.
- Minimal to zero travel required (less than 10%)
Managers are expected to have:
- Four year college/university program required, with BS/BA in accounting, finance or economics
- MS/MBA/CPA are helpful, but not required
- Proficient with Microsoft Office products (Excel, Word, Access)
- Exposure to computer programming languages such as VBA, industry system platforms such as Bloomberg, Intex or TREPP are helpful but not required
- 3+ years of experience in financial cash flow modeling securitization transactions in Excel/ VBA
- 3+ years of experience in coordinating and communicating with industry participants, such as investment bankers, attorneys, originators/sellers
- 2+ years supervising and training staff
- Well-versed in interpretation of legal documents, such as offering memorandums, offering circulars, indentures and private placement memorandums, etc.
- Ability to working independently and multitask in a fast-paced environment to meet client deadlines
- Strong organizational, analytical skills, problem-solving skills and high attention to detail
- Highly developed written and oral communication skills
- Relevant working experience in the following industries is desired (minimum of 3 to 5 yrs experience):
- Mortgage and asset-backed securities
- Accounting Firms
- Corporate Trust
- Mortgage Banking
- Loan Servicing
- Fixed income investments
- Rating Agency