Securitization Analyst

The Opportunity

Our client is looking for a Securitisation / Bank regulatory capital analyst to join the investment team in its structured credit business in London. This is an opportunity to join a leading global alternative investment management group in an analytical and transactional role.

The structured credit front office team currently comprises five officers in London and one in Sydney. The team predominantly invests in bank regulatory capital securitisations (also known as Significant Risk Transfer (SRT) transactions).

Responsibilities

The responsibilities of the role include:

• Detailed analysis of current and proposed and/or forthcoming bank prudential capital regulations in key jurisdictions (including EU, UK, Switzerland, USA, Canada), aimed at identifying in which areas of their on-balance sheet credit exposures the banks in those jurisdictions have the highest regulatory capital intensity.
• Monitoring and analysis of the ongoing regulatory capital positions, strategic intentions, and economic performance and prospects of banks in the key jurisdictions.
• Monitoring and analysis of developments in regulations with regards to SRT transactions. Identifying the implications of those developments for SRT transactions with respect to different credit exposure types, banks and jurisdictions. Modelling the efficiency of SRT transactions for banks in different jurisdictions and across different credit exposure types.
• The final implementation phase of Basel III (a.k.a. Basel IV) and its impact on individual banks in the key jurisdictions and on specific areas of credit exposures is expected to be a major immediate focus with regards to the above.

• In line with the investment team's strategic objectives, identifying and targeting banks and credit exposure types for SRT transactions based on the above analysis.
• Supporting the investment team's SRT sourcing activities, including meeting and discussing with banks where their regulatory capital pressures are most acute and creating collaborative solutions.

Other investment strategies in our client, such as direct lending, also rely on a good understanding of the limitations imposed on banks by prudential capital regulations. The bank regulatory capital analyst will additionally be involved with identifying broader trends and specific jurisdictional developments in bank capital in order to inform those other investment strategies where they may be able to find current and future opportunities.