ASSOCIATE - CREDIT TRANSACTION MANAGEMENT

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analyzethis

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To manage the credit (loans, trading & other risks) and transactional risk component of a portfolio of 40+ relationships within the Global Credit division of top tier Canadian bank. This will include preparation of credit renewals, extensions, and amendments to credit facilities, compliance verification, data integrity and identification & mitigation of risks.

Can anyone shed any light on this position and where it could lead to career-path wise?
 
Check out thread entitled "corporate credit analyst". Its the same thing but less modelling intensive and more mechanics of the deal (verify payer is written in the right direction in swap, collataral promised is not subordinated to other claims etc.). You should verify the reporting lines (i.e. if its part of credit operations or credit dept or the relationship team). This will give you better insight.

If you wish to be more analyst and less support, here are the degrees of preference (always depends on bank, how close teams are, structure I can't imagine, etc)
Best: relationship team, reporting to senior banker
credit, reporting to bank management
Least: support, reporting to operations

Every bank is set up differently.
 
Saks makes a good point. You need to tell them whatever they want to hear to get the offer - then decide if you want it. Although I ran into a similar situation once. The only thing standing between me and an offer was one question, "Why do you really want to do this job?" All I could think of in my mind was, "I really have no desire to work here.". I gave them some B.S. answer, but I don't think my "acting" was on-point that day and I wound up not getting an offer. There is just nothing about middle office that makes me say, "please sir, may I have another".
 
Saks, here are the duties, what do you think?


� Manage the �Middle Office� component of an assigned, industry-specific portfolio of Non Bank Financial Institution and Public Sector accounts including monitoring and controlling all loan transactions
� Manage all ongoing credit transactions of the portfolio including annual reviews, credit amendments, trading lines, cash management related facilities, and day to day activities.
� Responsible for regulatory compliance of the assigned portfolio and the analysis of financial reporting, being able to identify trends in the financial condition of accounts.
� Assist with restructuring and documenting syndicated and bilateral loan transactions.
� Where required, responsible for the determination of strategic direction of accounts.
� Responsible for data integrity of accounts in the assigned portfolio, ensuring bank systems are correct.
� Interact with Corporate Banking, Portfolio Management and Global Markets groups within the Bank, and work closely with Global Transaction Services, and Group Risk Management
 
that could very well be a BOM or ops position, ive worked in several positions with similar descriptions and they sucked.

someone else usually does the credit analysis, if you're lucky they might let you use MRA to do really lame analyses.

yeah dude, thats exactly what i used to do, if your desperate take the job but you probably wont like it.



Edited 1 time(s). Last edit at Tuesday, August 21, 2007 at 09:20PM by SeanC.
 
So you're saying this is more of an operations-type, administration-type role?

Would the experience from this job open doors to the research side of an investment bank?
 
I agree it is more on the admin side (credit support). However, if you are motivated it *could* be a good start for more analyst type roles. Likely your interaction with cash flows/modelling etc will be updating analysis with new numbers (new inputs for oil, fx rates, company financials) instead of actually starting from scratch.

It depends on how willing you are to do this for a year or two until you moveon ... it could suck, probably will if your coworkers are older and unmotivated.

In the other thread you posted about equity IM, I don't think this is a logical place to start. Much more logical is this path: aforementioned role --> analyst role within relationship team on credit /DCM side --> IM at credit fund/bank/etc

If you are sold on equity stock picking Iwould discourage this as a place to start. If you are open to other types of vehicle picking (the glorious and varied world of fixed income, but less so FI structured products) then I would consider it.

Also, I revise my first post salary projections dwnwrd -- think about 65-85base with 30-50k bonus (probably under 100k all in).

Also, I don't know where you are in your career(guessing you are <5yrs exp) but a lot of posts/posters on here are looking for the straight away jump and I think in reality finance careers are more like baby steps in the right direction. Depending on the culture of the bank, two years in this role (if you are motivated after two years when the 'next steps' conversations start it will be obvious you want to do other things) might not be bad. Obviously always depends on other factors I don't know ($ situation, goals, etc)

Good luck no matter what you decide.
 
Analyzethis: this role would probably not directly lead to research roles, even on FI side. I would think that successful progression in cfa would lead to the credit analysis roles that this job supports, and from there into research (with some elbow grease).
 
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