ABF Associate
ssociate / Senior Associate - Asset‑Backed Finance (ABF)
Location: New York, NY
Firm Overview
A leading credit investment platform is seeking an Associate/Senior Associate to join its Asset‑Backed Finance ("ABF") team. The group invests across commercial, consumer, and esoteric asset classes, executing transactions for both fund and insurance-balance‑sheet capital.
Role Overview
The hire will work across the full lifecycle of ABF investing - sourcing, underwriting, structuring, modeling, legal documentation, and portfolio management. This role provides broad exposure across consumer finance (e.g., unsecured consumer loans, BNPL, auto, credit card, point‑of‑sale finance) and commercial assets (e.g., equipment, digital infrastructure, transportation, data centers, specialty finance, trade finance).
Key Responsibilities
Origination & Underwriting
- Evaluate consumer and commercial ABS/ABF opportunities, including flow and non‑flow transactions.
- Underwrite collateral pools across unsecured consumer loans, auto, credit card/receivables, small‑business lending, equipment loans/leases, and other esoteric categories.
- Perform asset‑level modeling, stress tests, scenario analysis, and structural review.
- Conduct due diligence on originators, platforms, servicing capabilities, and collateral performance history.
Structuring & Execution
- Support structuring of warehouse, term ABS, residual, and bespoke financings across consumer and commercial asset types.
- Work with legal counsel on deal documentation (purchase agreements, warehouse/loan agreements, ABS docs, intercreditors).
- Build and own cash‑flow models; run relative‑value and capital structure analyses.
- Prepare and present investment memos to the Investment Committee.
Portfolio Management
- Monitor performance of existing ABF positions across both consumer and commercial exposures.
- Track KPIs such as delinquencies, default rates, prepayments, servicing quality, utilization, collateral concentrations, and advance rates.
- Identify emerging risks and recommend amendments, restructurings, or enhanced protections when needed.
Qualifications
- 2-6 years of experience in ABF, ABS structuring, specialty finance underwriting, or structured credit.
- Strong modeling and analytical skills (Excel, Intex preferred).
- Familiarity with consumer lending platforms and data (vintage curves, charge‑off dynamics, yield/discounting models) and commercial/enterprise asset pools.
- Working knowledge of ABS/warehouse documentation and securitization mechanics.
- Excellent communication, attention to detail, and ability to manage multiple transactions simultaneously.
Ideal Backgrounds
- ABF or structured credit teams at private credit funds, insurance platforms, or structured products groups.
- Consumer ABS or specialty finance underwriting (unsecured consumer, auto, credit card, small business).
- Esoteric/commercial ABS structuring at investment banks.
- Specialty finance credit roles supporting originators or asset‑aggregation platforms.
FAQs
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