Company Information
Waterfall Asset Management, LLC is an SEC-registered alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity. Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking, and servicing experience. Waterfall seeks to provide its clients a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is headquartered in New York, with additional offices in London and Dublin. As of December 1, 2024, Waterfall has approximately $13.1 billion in assets under management.
Job Description
Waterfall is looking to hire an Associate into the Operations team led by the COO. The Operations team at Waterfall is responsible for four primary functions: treasury & banking, reconciliation, trade settlement, and trading line management. This individual will be focused predominantly on treasury & banking and trading line management.
Specific job responsibilities include:
* SME for new Treasury platform, becoming an expert in functionality, extracting the most value from the platform, troubleshooting issues, owning the relationship with the third party vendor, and suggesting and designing new workflow automations.
* Understanding beneficial ownership within deal structures and specific strategies in order to understand types of accounts needed and in which markets.
* Oversee and manage external bank and custody account creations and dissolutions.
* Oversee progression of the Waterfall New Entity process, collaborating with Middle Office, Tax, and Legal groups.
* Oversee bank interest rates and validate earned interest and debit interest charged. Design and socialize monthly bank assessment including average balance by location, interest rate by location, and service charges to arrive at an effective yield for PMs.
* Optimize cash balances through daily yield analysis and action through regular sweeps and EOD overdraft funding.
* Setup and maintain static data for Waterfall accounts within our Treasury ecosystem.
* Authenticate and setup Waterfall business vendors, managing third party outsourcing firms as applicable.
* Monitor Waterfall fund liquidity levels and ensure they satisfy agreed covenants.
* Manage internal setups of derivative, repo, and fx forward trading lines.
* Collaborate with Waterfall Compliance team to maintain Waterfall fund regulatory information on Counterparty Manager.
* Issue/respond to daily margin calls and investigate disputed amounts.
* Create and link margin agreements within TriOptima.
* Responsible for the accuracy of Waterfall fund administrator cash account balances, which are considered within our funds’ NAVs.
* Assist with CLO Rep letters and ABS transfer certificates, providing a control for fund eligibility.
Qualifications and Education Requirements
* Relevant degree: Business / Accounting.
* Experience in treasury at a buy-side institution.
Preferred Skills
* Highly organized with exceptional attention to detail.
* Proficiency in Microsoft Excel is required.
* Experience with industry treasury platforms/SWIFT is preferred.
* Knowledge of fixed income products is beneficial.
* Process-improvement oriented with ability to collaborate with IT to drive business initiatives.
* Excellent communication and teamwork skills.
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