Manager, CDO / CLO Operations
Primary Responsibilities:
- Oversees calculation of coverage and collateral quality tests, portfolio concentration limitations and other tests as specified by the indentures.
- Ensures timely and accurate responses to requests from Portfolio Managers for hypothetical analysis and cash flow projection.
- Monitors security specific transactions and measures the impact to the CDOs and CLOs.
- Interacts with the underwriter, trustee, and swap counterparties on trades, payments, and other issues.
- Ensures principal and interest received from portfolio assets are properly accounted for and accurate for waterfall distribution.
- Manages the WSO/Markit relationship for CLO servicing (including Compliance, Settlements, Reconciliation and Reporting).
- Monitors the reconciliation of cash flows and positions on a daily basis, as required, for each specific CDO/CLO managed by TCW/MetWest. Tracks and reconciles coupon payments for portfolio collateral and waterfall payments for the CDOs and CLOs.
- Interface with CDO/CLO trustees to ensure accurate and timely reconciliation, and data downloads of positions within the CDOs and CLOs.
- Oversee warehouse servicing for new CLOs.
- Cultivate positive relationships with trustee contacts and work proactively to correct data inaccuracies with the trustee.
- Interacts with rating agencies on questions or rating actions relating to CDO liabilities.
- Internally communicate with other members of the Reconciliation, Settlements, Derivative Operations groups to ensure that trades and cash flows are being accurately recorded in the SMS portfolio management system.
- Produce consolidated reports required by the portfolio managers, trustees, and underwriter. Update management on the current reconciliation status, and provide updates on the resolution of open exceptions.
- Support projects and research for senior managers, partners and portfolio managers.
- Work internally with TCW Risk and Legal departments to resolve issues that arise in connection with CDO/CLO management responsibilities. Report to TCW Risk on risks related to specific transactions, if needed.
- Supervise and develop trained and competent staff.
Required Qualifications
- Bachelor’s degree, in Finance, Economics, or similar field.
- At least 3 years investment industry experience in a related role, including CDOs and CLOs.
- Strong understanding of fixed income securities and bank debt.
- Knowledge of CDO/CLO documentation (including indentures and swaps) is required.
- Prior experience in a supervisory or management capacity performing related duties.
- Self-motivated manager with excellent communication and interpersonal skills.
- Strong analytical and computer skills with a demonstrated proficiency in Microsoft Excel
- Rigorous attention to detail; excellent time management and organizational skills.
- Strong analytical and problem solving capabilities.
- Excellent research skills, resourcefulness and ability to work independently as well as in a team environment.
- Be responsive, possess strong written and verbal communication skills and be comfortable presenting information to investors and others.
Preferred Qualifications
- Familiarity with Bloomberg, Cognos or other Business Intelligence software (Hyperion, Brio, Business Objects) a plus.
This position is located in Los Angeles, CA
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