Asset Based & Transitional Finance Field Examiner

Group Overview: The Asset Based & Transitional Finance Group (“ABTF”) within Citi’s Investment Banking division 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 (“ABL”). ABTF professionals directly advise the senior management of Citi’s corporate clients on debt financing and capital structure solutions. ABTF further serves these clients by committing capital to the financing transactions. ABTF directly manages the loan portfolio comprised of these capital commitments.

Nature of Business:

• 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 group’s revenue stream is generated through fees earned by structuring/arranging financing transactions for its clients, upfront fees paid on Citi’s loan commitments, and interest paid on the group’s loan portfolio

• The team works closely with other Capital Markets businesses and Global Banking to leverage Citi resources and generate new business opportunities

Field Examiner Responsibilities:

• Analyze collateral with a focus on Accounts Receivables and Inventory

• Calculate (or estimate) borrowing bases for prospective clients

• Lead, review, and manage outsourcing to third parties of field exams and appraisals for existing and prospective clients where Citi is the collateral agent. Exams and appraisals will focus on client financial and industry data, collateral values, management information systems, internal control environment, etc. In limited cases, Citi field examiner may be responsible for completing all or portions of the field exam diligence rather than outsourcing.

• Formulate opinions, assessments and/or recommendations regarding a client’s credit worthiness and quality of collateral, in some cases with limited information.

• Review and opine on appraisals and field exams for deals where Citi is participant

• Evaluate credit agreements for eligibility criteria of ABL collateral and related reporting requirements

• Compile summaries of monthly borrowing base certificate submissions and review for accuracy and trends

• Manage relationships with third parties providing collateral related services (field examiners and appraisers) and coordinate with internal and external counsel on collateral related matters

• Communicate borrowing base sizing, field exam, and/or appraisal findings to ABTF team members, internal risk partners, syndicate lenders, and borrowers

• Educate new ABL borrowers on field exam and appraisal requirements; work closely with borrower clients throughout origination and through the life of the loan

• Provide training to junior ABTF staff

Skill Set:

• Strong fundamental financial and credit analysis utilizing a full complement of information sources including public filings, company provided financial and accounting information, equity and fixed income research, Bloomberg and rating agency reports

• Strong understanding and ability to perform and review asset based lending field exams

• Excellent oral and written communication skills

• Ability to work with all levels of management, both internal and external

• Interest in the non-investment grade debt capital markets

Requirements:

• Minimum of seven to 10 years of field examination experience with either an asset based lender or field examination firm.

• Proficient in Excel, Word and PowerPoint

• CPA preferred

• Travel 10% to 25%

Job Family Group:

Institutional Banking

Job Family:

Investment Banking

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Full Time Salary Range:

$200,000.00 - $300,000.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date:

Oct 10, 2024

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.