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Loan Operations Associate

4 months ago


Coral Gables, United States H.I.G. Capital Full time

Firm Overview:


H.I.G. Capital is a leading global private equity investment firm with $62 billion of assets under management. The H.I.G. family of funds includes private equity, growth equity, real estate, debt/credit, lending and BioHealth. We align ourselves with committed management teams and entrepreneurs and help build businesses of significant value. Our team of over 500 investment professionals has substantial operating, consulting, technology, and financial management experience, enabling us to contribute meaningfully to our portfolio companies. We invest in companies throughout the U.S., Europe, and Latin America have offices in Miami, New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Stamford in the U.S., and affiliate offices in London, Hamburg, Luxembourg, Madrid, Milan, and Paris in Europe as well as Bogotá, Mexico City and Rio de Janeiro in South America. Our funds invest in many types of transactions, including, leveraged buy outs, distressed debt, venture capital and real estate.


Credit Platform:


H.I.G. Capital’s credit platform has invested over $27 billion in credit assets globally across multiple market cycles since inception and has been expanding rapidly. The Credit Platform is currently $18 billion in AUM with the expectation of this continuing to grow rapidly with multiple new fund structures in the pipeline. The Credit Platform has been actively investing in CLOs/structured products, direct loan originations, distressed/stressed debt and distressed-for-control investments with both private equity firms and non-sponsor companies. A differentiated, value-added strategy and leading position in the lower to middle market has resulted in strong, consistent returns and has established H.I.G. as a market leader in the credit markets.


The growing credit platform includes interesting and complex fund structures including a publicly traded business development company, traditional closed-ended private credit funds, hybrid funds, evergreen funds as well as custom-tailored separately managed accounts. We also expect to expand into more liquid and open-ended structures in the near future. Our fund structures are sophisticated and employ many intricate features and characteristics including leverage through a multitude of structures (subscription lines, ABLs, TRS), multi-jurisdiction and multi-currency vehicles, and tax structuring vehicles including blockers, season-and-sell entities and tax-treaty vehicles. Our funds are complicated – creating a dynamic and fast-paced environment in which there are opportunities to continually learn, grow and advance in your career and continuously work with some of the brightest and most successful professionals in the small and midcap markets.


We are currently implementing several operations- and technology-focused initiatives to provide a scalable infrastructure for continued growth in the future and to enable more opportunities to provide “value-add” information and analysis for H.I.G.’s investment team and senior management. The management of the Firm supports these initiatives and has provided the commitment and resources to make this transformation a reality. This will create opportunities for individuals to be involved with and/or own high-profile projects that will help H.I.G. Capital design and define our future operating infrastructure.


Role Overview:


Due to the significant growth and expansion of our Credit Platform, based in our Coral Gables, Florida office, we are seeking a Loan Operations Associate to join the operations team. The successful candidate will be joining a strong team where the focus will be on providing opportunities to grow, develop and be successful in your career.


The candidate will be intimately involved with assisting in the execution of the day-to-day operations as well as the monthly and/or quarterly accounting close related to the candidate’s Credit Funds and deals. The candidate will also have the opportunity to participate in high profile projects building out the operational infrastructure of the Credit Platform to become world class.


The selected candidate will work with teams across the organization, including the Treasury, Accounting, Investment, Valuation, Tax, Investor Services, and Capital Formation Teams, in carrying out the operational responsibilities of the Credit Funds. This will provide the candidate with a broad range of exposure to different aspects of the global business and create great networking opportunities.


To accomplish these goals, the candidate will have supervision responsibilities over a team of offshore operational personnel. This will provide the candidate the management responsibilities and opportunities to build and grow a successful team.


Role Responsibilities:


  • Working closely with the Investment, Treasury and Accounting teams on a daily basis to ensure all trades and cash movements are booked accurately and timely into our systems, i.e. Portfolio BI; VPM.
  • Monitor, track and maintain all investments (Originated, Middle Market and Broadly Syndicated Loans, Bonds, TRS, Real Estate loans, Repos, Equity and FX Forwards) for interest payments, reorganizations, amendments, etc. and analyze the related performance; Engage directly with the investment and origination professionals to handle multifaceted inquiries.
  • Creation/Review of new security setups (working with offshore service providers and Deal Teams). Understand the security setup process as a whole, the required data needed for each security type and how to obtain it, and how the data flows downstream to various systems/reporting.
  • Assist with the supervision of offshore service provider personnel; Ensure service provider personnel are a successful extension of our team and are given opportunities to grow and expand their careers.
  • Interpret and understand loan related documentation.
  • Understand, research and explain the P&L aspects of a loan and a revolver – i.e. accruals, gains, netback.
  • Liaise with Administrative Agents and trade counterparties to rectify discrepancies
  • Review daily cash and position reconciliations to investigate and resolve breaks timely and accurately
  • Help coordinate deal fundings.
  • Understand how TRS facilities operate and work with facility provider banks on the daily/monthly reconciliation of assets and maintenance of activity. This includes monitoring of daily margin calls, and transmission of trade file exports.
  • Work with Repo financing providers and internal teams to reconcile monthly payment files and coordinate associated money movements.
  • Communicate with our Sub-Agent for HIG agented loans to ensure they have what’s needed to service the loans and that their calculations are correct.
  • Work with technology teams to implement solutions to improve process and reporting efficiency, including validating enhancements to system reports and functionality.
  • Interact with Tax Team to ensure that all tax information is compiled properly.
  • Assist with special projects and internal ad-hoc requests and undertake broader team and/or office initiatives.


Requirements & Qualifications:


  • Bachelor’s Degree in Finance/Accounting/Economics.
  • 2+ years of experience in a similar capacity at an investment firm, CLO firm, trustee, banks, audit firm, middle office service provider.
  • Product knowledge of term loans and revolvers, PIK, bonds a plus.
  • Prior use of Visual Portfolio Manager (“VPM”) or similar credit platform systems (Wall Street Office, Geneva, CDO Suite), Clearpar, IVP’s SRM and Polaris or Portfolio BI a plus.
  • Leads by example in areas of attitude, attention to detail, urgency, process improvement and quality of work.
  • Strong planning and organizational skills.
  • Positive attitude with a team player mentality – delivering results within tight deadlines.
  • Ability to multi-task and demonstrate change agility with an evolving workload and ability to communicate upwards when competing priorities arise.
  • Strong interpersonal and communication skills – both verbal and written – with an ability to build working relationships across various departments with individuals at different experience levels.
  • Strong Excel (including index/match/offset, vlookups, sumif/s, pivot tables, formatting).