Citigroup Business Risk Officer - BCMA - ABTF in New York, New York
The Asset Based & Transitional Finance Group (ABTF) is responsible for originating, structuring and syndicating corporate finance transactions for non-investment grade companies, and specializes in debt financings for restructurings/turnarounds, bankruptcies, leveraged/management buyouts and asset based loans.
NATURE OF THE BUSINESS
Asset Based Loans (ABLs) consist of highly structured secured revolving lines of credit and term loans for non-investment grade clients with availability governed by the liquidation value of the assets securing the facilities
These facilities meet an array of corporate finance needs including general corporate purposes, cyclical, industrial or seasonal downturns, acquisitions and recapitalizations
ABLs pair easily with funded debt such as high yield bonds and term loans, and typically sit at the top of a company’s capital structure
The transitional finance side of the business focuses on capital structure solutions for clients in transition, e.g. rescue finance, debtor-in-possession, exit financing
The team works closely with other Capital Markets businesses and Global Banking to leverage Citi resources and generate new business opportunities
Support the ABTF Businesses in various Middle Office functions, acting as a bridge between the Front Office, Loan Operations and other departments within the organization for the execution and ongoing maintenance of transactions and portfolio reporting. The connection from the front office to the back office is critical to the success of the ABTF franchise.
The individual is responsible for providing support to the ABTF Business. Responsibilities include:
Review loan documentation and liaise with Citi’s Global Loans Team to check operational workability prior to deal closing.
Review Credit Approvals to ensure the facilities are structured within the terms of the loan agreement and reported correctly in RAPID (Citi Credit System) and Optima (Finance and Risk system)
Work closely with Global Loans Deal Closing Team and the banking deal team to facilitate loan closings for widely syndicated loans, both domestic and foreign (foreign loans are largely in Europe).
Distribute executed documents to the Delaware Loan Operations Deal Closing Team (and CRMS as necessary)
Distribute required reporting documents to the Disclosure unit for posting to the deal disclosure site
Create Availment Form(s) to accurately capture each Borrower’s excess availability and monitor springing cash dominion and financial covenant triggers as per the terms of the loan agreement
Track the invoicing and payment of ABTF’s internal Field Exam Unit
Request Third Party Account Openings through Agency & Trust and Americas Bank Network Management team for cash collateral and dominion accounts as stipulated by the loan agreement.
Notify Global Loans of changes to the Global/Citi Commitment or other material changes under the loan documentation (CRMS as necessary)
Review Monthly Borrowing Base Certificate (BBCs) delivery schedule with Global Loans and reach out to the borrower/agent if the BBC is past-due
Administer Letter of Credit (L/C) issuances and amendments with the clients and our internal Tampa operations department; Verify L/C activity is within the terms of the ABL agreement and the stated L/C sub-limit
Troubleshoot client billing errors with Global Loans, LC Recon and Tampa Operations.
Work with Global Loans and FIN CON to ensure fees are recognized as revenue and/or against the portfolio. Supporting documentation is provided as necessary.
Assist the Borrower as well as Delaware LC Recon team with Letter of Credit reconcilement to ensure proper billing
Daily client interaction to answer any questions in regards to the credit agreement, billing, letters of credit, account openings.
Prepare the ABTF pipeline reports for the bi-weekly team meeting
Perform a calculation of the clients average availability for pricing changes and confirm the calculation with the client; Once confirmed, we advise Global Loans to update pricing in the loan system accordingly
Assist Investor Relations (IR) with any lender related inquires and the Disclosure Unit with any past-due reporting documents as it relates to the ABL agreement
Experience with Citi’s risk and loan systems in North America (European experience a plus)
Experience with loan and booking mechanics
Familiarity with loan documentation
Ability to work under tight time frames
Experience working directly with clients
Experience with financial and credit analysis a plus
Proficient in Excel
BA in Finance or Accounting a plus
Familiarity with financial statements (balance sheet, income statement, cash flow statement)
Minimum of 4 years experience
Job Family Group:
Business Risk & Controls
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