Portfolio Services 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.

Job Description 

Waterfall is looking to hire an Analyst into the Portfolio Services team under Trade Management led by the COO. The Portfolio Services team at Waterfall will serve as a critical layer of control to ensure that the firms’ internal books and records of our investment portfolios are accurate. The team is responsible for three primary functions: portfolio substantiation, reconciliation to administrators, and performance reporting. This individual will act as a product control specialist, embedded within our middle office, working to independently review and substantiate investment representation.  They will be responsible for ensuring that the substantiation is carried through to our official books and records maintained by various external administrators. As these are finalized, they will then be responsible for providing regular and comprehensive reporting to our investors, controllers, senior managers, and investment teams across the firm.

Specific job responsibilities include:

• Responsible for quality control review of complex trade booking methodologies and activities including ensuring we have retained the appropriate supporting documentation for all account balances in accordance with Waterfall Policies and GAAP standards
• Responsible for independently ensuring that new trades have been onboarded accurately, internally and externally  
• Validation of various aspects of the portfolio, such as cash positions, securities holdings, and performance data, to identify discrepancies and ensure accuracy to our administrator
• Analyze and investigate any variances or discrepancies identified during the reconciliation process and work to resolve them promptly.  Work with trade management teams to remediate and work to establish better process & policies upon booking
• Responsible for detailed performance attribution through the month-end cycle (prelim/final) that explain the contribution of various factors to portfolio returns, such as sector allocation, security selection, and duration/currency impact
• Responsible for business line P&L reporting for portfolio managers, investment committee, CFO and CIOs
• Responsible for ad-hoc requests related to performance inquiries from clients, portfolio managers
• Responsible for computation of carve -out track records to aid in the fundraising process
• Continuously assess processes and work independently and with technology to enhance efficiency

Qualifications and Education Requirements

• BA/BS degree required, preferably in Accounting
• Experience in accounting/finance roles, preferably with time at a buy-side institution
• Highly organized with exceptional attention to detail
• High degree of proficiency in Microsoft Excel is required
• Proficiency in Advent Geneva a plus
• Knowledge of fixed income products is preferred
• Process-improvement oriented with ability to collaborate with IT to drive business initiatives
• Excellent communication and teamwork skills