Director, Loan
3 weeks ago
For 175 years, National Life Group ("NLG") has aimed to keep their promises to provide families stability in good times and in bad. And throughout that history, they have provided peace of mind to those families as they plan their futures.
As a mission-driven business, the cause of what they do is as important as the products they sell. And their cause is a very simple one, directed at the people who live and work on America's Main Streets: "To Do good in our communities and with the individual families we serve."
NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple - to allow NLG to keep its promises. How we do this - an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. While our process is based on rigor, our culture is based on our guiding principles: Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team. They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision. We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders. Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering.
THE POSITION
Position TitleDirector, Loan & CLO Operations
Position Summary
NLG Capital is seeking a Director of Loan &CLO Operations to lead the operational aspects of its growing corporate loan portfolio. The Director be responsible for management and coordination of in-house and out-sourced middle office operations, and interactions with trustees/fund administrators, agent banks, and arrangers. The role requires deep knowledge and experience with the full lifecycle of loan settlements and administration, as well as CLO structures, compliance, and reporting.
Successful candidates will have a demonstrated track record at an existing private credit manager, CLO manager, or Trustee with a firm grasp of processes around loan administration and loan agency. The Director should be comfortable interacting frequently with portfolio managers, traders, and members of the operations and accounting teams to support the changing needs of a fast growing lender with different fund structures and reporting requirements.
Responsibilities
Responsibilities will include oversight of loan closing/funding, payments, cash flow waterfalls, daily trustee/MO reporting, reconciliations/tie-outs, etc. The Director will also lead the monitoring and testing required for specific funds and CLOs including coverage and collateral quality tests, concentration limitations, and other tests as required by fund documents. The Director will create and coordinate creation of customized daily reporting and analytics, special reporting, and ad-hoc requests to support portfolio management, analysis, investment accounting, and investor relations.
- Lead all aspects of Loan and CLO Operations
- Liaise with trustees, administrators, outsourced middle office, agents, and arrangers to support reporting and data needs
- Oversee, coordinate, and reconcile daily reporting and periodic payments
- Produce reports (regular and ad-hoc) to support portfolio management, investor relations, and investment accounting
- Calculate waterfall payments, review/approve Trustee/Fund Admin reports
- Seek opportunities to improve upon operational infrastructure to provide best-in-class loan and CLO operational framework and provide subject matter expertise to internal functions as necessary
- Manage loan settlement, funding (including revolving credit facilities), and amendment processes
Pivotal Experience & Expertise
- 5-7 years experience in loan, private credit, or CLO operations at an asset manager, bank, or trustee
- Undergraduate or advanced degree in Finance, Accounting, or a related field of study
- Deep understanding of loan settlement, agency, administration, and reporting
- Experience with loan middle office providers/platforms
- Advanced Microsoft Excel skills including macro writing. Other programming/development skills preferred
- Strong reasoning, decision-making, analytical, creative problem solving, and communication skills
- Leadership responsibility and demonstrated success mentoring and driving progress among team members
- Willingness and ability to engage with other investment managers and third-party service providers to evaluate best practices
- Intense intellectual curiosity with the desire to seek new challenges while continuously learning
- Solid interpersonal skills and ability to connect to form meaningful working partnerships
- Inclusive team player with a collaborative and cooperative approach
- Strong work ethic and proactive professional disposition
- Experience driving projects to completion
- Results-driven mindset
- Thrives in a collaborative environment where the best ideas that drive the best results are rewarded
- Has the integrity to communicate all relevant facts and information in evaluating decisions and the humility to admit what you do not know
- Love of learning - comfortable in an organization that seeks to continually learn from its mistakes and successes to drive better investment decisions
- Comfortable with ambiguity and the mentality required to address and ultimately own those ambiguous situations - finding answers and solutions
- Proficient in giving and receiving constructive feedback in both real time and structured environments
- Demonstrates transparent, direct, and open communication across the organization
- Promotes collaboration and has a "firm first" attitude - does what is right for National Life Group
- Commitment to our mission and values
In addition to base salary, other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT - founded in 1848, Life Insurance Company of the Southwest, Addison, TX - chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.
Fortune 1000 status is based on the consolidated financial results of all National Life Group companies.
National Life Group
1 National Life Dr
Montpelier, VT 05604
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