This position will be responsible for processing and monitoring the timely reconciliation of TCW/MetWest CDOs and CLOs, and working with the trustees to ensure accurate and timely reporting. The reconciliation will involve compliance testing, hypothetical analysis, cash flow projection, timely and accurate cash and holdings transaction comparisons, and the resolution of exceptions with the trustees.
Responsible for the calculation of Internal Waterfall, review and approval of Trustee Waterfalls.
Responsible for Calculation of coverage and collateral quality tests, portfolio concentration limitations and other tests as specified by the indentures.
Ensure timely and accurate responses to requests from Portfolio Managers for hypothetical analysis, various projects and cash flow projection.
Monitor security specific transactions and measures the impact to the CDOs and CLOs.
Interact with the trustee, and swap counterparties on trades, payments, and other issues.
Ensure principal and interest received from portfolio assets are properly accounted for and accurate for monthly reports and waterfall distribution.
Support the WSO/Markit relationship for CLO servicing (including Compliance, Settlements, Reconciliation and Reporting).
Monitor the reconciliation of cash flows and positions on a daily basis, as required, for each specific CDO/CLO managed by TCW/MetWest. Track and reconcile coupon payments for portfolio collateral and waterfall payments for the CDOs and CLOs.
Interface with CDO/CLO trustees to ensure accurate and timely reconciliation, and data downloads of positions within the CDOs and CLOs.
Support warehouse servicing for new CLOs.
Cultivate positive relationships with trustee contacts and work proactively to correct data inaccuracies with the trustee.
Interact with rating agencies on questions or rating actions relating to CDO liabilities.
Internally communicate with other members of the Reconciliation, Settlements, & Derivative Operations groups to ensure that trades and cash flows are being accurately recorded in the SMS portfolio management system.
Produce consolidated reports required by the portfolio managers, trustees, and underwriter. Update manager on the current reconciliation status, and provide updates on the resolution of open exceptions.
Support projects and research for senior managers, partners and portfolio managers.
Bachelor’s degree in Finance, Economics, or a similar field
2-4 years of investment industry experience in a related role, including CDOs and CLOs
Strong understanding of fixed income securities and bank debt
Knowledge of CDO/CLO documentation (including indentures and swaps) is required
Strong analytical and computer skills with a demonstrated proficiency in Microsoft Excel
Excellent research skills
Professional Skills Qualifications
Rigorous attention to detail; excellent time management and organizational skills
Strong analytical and problem solving capabilities
Self-motivated, responsive, and ability to work independently
A team player with strong interpersonal skills
Excellent written and verbal communication skills and comfortable presenting information to internal and external clients
Familiarity with Bloomberg, Cognos or other Business Intelligence software (Hyperion, Brio, Business Objects) a plus
TCW was named Best Places to Work by Pension & Investments for the fifth year in a row.
TCW is a leading global asset management firm with more than four decades of investment experience and a broad range of products across fixed income, equities, emerging markets and alternative investments. Through the MetWest and TCW Fund Families, TCW manages one of the largest mutual fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. As of June 30, 2019, TCW had total assets under management of $205 billion. TCW is headquartered in Los Angeles, and has offices in New York, Boston, Chicago, London, Milan, Hong Kong, and Tokyo.
TCW is an Equal Opportunity Employer, including disability/vets. Please visit www.tcw.com for more information.