Senior Associate, Alternative Operations

2 months ago

Austin, United States PIMCO Full time
PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients' capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world's largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

Position Description

We are looking for a Senior Associate, Special Situations, to join our Alternative Operations team. This team plays a vital role in supporting PIMCO's Alternatives/Special Situations Group, which encompasses complex hedge funds, private equity vehicles, and separately managed accounts.

In this role, you will collaborate with key partners, including Portfolio Management, Legal, Compliance, Finance, and external service providers, to ensure the timely settlement and management of debt and private equity assets. Your responsibilities will include deal facilitation, settlement processes, income accounting, cash wire controls, physical security registration, and complex debt restructuring.

As a Senior Associate, you will serve as the primary contact for private lending deal execution, overseeing funding, settlement, and cash management. You will support portfolio managers in the lifecycle management of private and originated loan trades, ensuring effective coordination with both internal and external stakeholders. Your role will involve managing relationships with banks and custodians, monitoring investment positions, and generating regular financial reports.

Additionally, you will facilitate cross-functional communication, lead process improvement initiatives, assist with complex financial transactions, and enhance operational controls. You will also engage with vendors for service upgrades and participate in various special projects to support the firm's strategic initiatives.

Location

New York, NY or Austin, TX.

Responsibilities

The key responsibilities include, but are not limited to:
  • Support PIMCO's Special Situations Group and Insurance Solutions portfolio managers in overseeing settlements and managing the life cycle of private/originated loan trades.
  • Serve as the main point of contact executing private lending deals, including funding, settlement, and cash management.
  • Monitor and escalate issues with outsourced providers responsible for back-office functions such as settlements, asset setup, waterfall calculations, P&I processing, etc.
  • Collaborate with internal and external stakeholders to ensure accurate deal funding, asset setup, investment monitoring, and reporting.
  • Manage relationships with banks, custodians, and other financial institutions, facilitating communication with banks, rating agencies, co-investors, auditors, and other relevant parties.
  • Track investment positions to ensure timely payment receipts and drawdown executions, and assist in generating monthly reports for leverage facilities, including investment company reporting and covenant tests.
  • Review quarterly valuations and marketing materials with the portfolio reporting team.
  • Act as a liaison between the Investment Team and other internal departments, ensuring cross-functional communication and coordination with investment professionals, legal, tax, accounting, and compliance teams.
  • Lead and/or manage cross-functional projects aimed at process improvement and stakeholder engagement.
  • Assist with complex loan amendments, restructurings, and share conversions, while enhancing controls and oversight for non-standard alternative transactions.
  • Support the operational aspects of bespoke loan financings and Separately Managed Accounts.
  • Coordinate with vendors and banking institutions for service enhancements and new product solutions.
  • Contribute to firmwide initiatives to evaluate technological needs related to the credit platform.
  • Educate service providers and internal partners on deal mechanics and structuring.
  • Participate in various operational and financial special projects.
Position Requirements
  • Minimum of a Bachelor's Degree required.
  • Minimum 3 years of experience in Investment Operations specifically supporting debt-related products, with a preference for special situations, credit, or private investments.
  • Strong knowledge of loan-based products, including term loans, revolvers, delayed draws, and privately originated debt/equity. Experience should encompass loan setup, interest calculations, amendments, restructuring, loan agency functions, and the loan settlement process, including complex deal structures and control/pledge agreements.
  • Experience in managing fund-level and asset-based financings, such as loan Total Return Swaps (TRS) and bespoke facility agreements.
  • Familiarity with private equity fund frameworks, covering the entire process from booking and settlement to accounting and post-settlement maintenance.
  • Proven experience in managing relationships with custody and accounting service providers for supported products.
  • Understanding of the accounting implications when recording lifecycle events, including principal and interest (P&I), expenses, and capital contributions/distributions.
  • Ability to extract key terms from credit facility documentation and articulate deal structuring effectively.
  • Solid understanding of fund accounting across various complex asset classes.
  • Proven track record in managing complex securities and processing tasks, particularly with financing instruments and strategies.
  • Proficient in Bloomberg and Excel, with the capability to efficiently analyze large data sets.
Desired Qualifications
  • Understanding of private equity legal entity structures.
  • Understanding of SQL and database query tools.
PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.

Salary Range: $ 94,000.00 - $ 124,000.00

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

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