ReadyCap (WAM) - Analyst

Company Information

Waterfall Asset Management, LLC is an SEC-registered alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity.  Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking, and servicing experience. Waterfall seeks to provide its client a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities.  Waterfall is headquartered in New York, with additional offices in London, and Dublin. As of December 31, 2023, Waterfall approximately $12.6 billion in assets under management.

Ready Capital Corporation (NYSE: “RC”) is a publicly traded real estate finance company that originations, acquires, finances, services primarily lower-to-middle market commercial real estate (“LMM”) loans, Small Business Administration (“SBA”) loans, construction loans, and other real estate-related investments. The Company has over $2.5B in stockholder’s equity and is organized as a real estate investment trust (REIT). RC is externally managed and advised by Waterfall Asset Management, LLC, an SEC registered investment advisor.

Job Description 

You will play a crucial role in supporting the CFO and the finance team in ensuring accurate and timely financial reporting, compliance with regulatory requirements, and effective financial reporting, compliance with regulatory requirements, and effective financial analysis. The position requires a detail-oriented professional with a strong foundation in accounting principles and a deep understanding of the financial operations within a publicly traded company.

Specific job responsibilities include:

• Assist in the preparation of quarterly and annual financial statements in compliance with GAAP and SEC regulations.
• Support the CFO and Controller in financial planning, budgeting, and forecasting activities.
• Conduct detailed analyses of financial data to identify trends, variances, and areas of improvement.
• Collaborate with the audit teams to ensure adherence to internal controls and regulatory requirements.
• Participate in the monthly close process, including the preparation of journal entries, account reconciliation, and financial reporting packages.
• Assist in maintaining relationships with external auditors and participate in annual audits.
• Provide financial analysis and support for investment decisions and capital management initiatives.
• Participate in strategic initiatives of the Company.
• Stay informed of changes in accounting standards and regulations that may impact the company’s financial reporting.
• Review and accurately capture the following types of activities within the Company’s financial reporting in accordance with GAAP:
• Loan accounting, including fixed rate, bridge, and construction loans (originated and acquired)
• Hedge accounting
• Joint venture investments
• Securitizations
• Financing agreements
• Exhibit ownership, escalation, and resolution of issues when they occur in a timely manner.
• Manage expectations and understanding by establishing clear timelines.

Qualifications and Education Requirements

• Bachelor’s degree in Accounting, Finance, or related field
• CPA preferred
• Big 4 Public accounting experience
• 3-6 years of experience in in accounting or finance, preferably in the financial services or real estate sectors
• Strong understanding of GAAP, SEC reporting, and Sarbanes-Oxley (SOX) compliance
• Proficient in Excel and financial modeling
• Excellent analytical, organizational, and communication skills
• Ability to work effectively in a team environment and manage multiple projects with tight deadlines
• Detail-oriented with a commitment to accuracy and quality