Citi CMO – Asset Based & Transitional Finance Group (“ABTF”) Field Examiner in New York, New York
Primary Location: United States,New York,New York
Education: Bachelor's Degree
Job Function: Institutional Banking
Shift: Day Job
Employee Status: Regular
Travel Time: Yes, 25 % of the Time
Job ID: 18016389
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition at http://www.citigroup.com/citi/about/mission-and-value-proposition.html explains what we do and Citi Leadership Standards at http://www.citigroup.com/citi/about/leadership-standards.html explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
The Asset Based & Transitional Finance Group (“ABTF”) 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:
Analysis of collateral with a focus on Accounts Receivables and Inventory
Build borrowing bases for existing and perspective clients
Responsible for conducting and leading due diligence field audits for existing and prospective clients. Reviews will focus on client financial and industry data, collateral values, MIS systems, internal control environment , etc.
Formulate opinions, assessments and/or recommendations regarding a client’s credit worthiness, quality of collateral.
Coordinate and review 3rd party field examinations and appraisals with key vendors and clients
Review appraisals/exams for deals where Citi is participant and provide recommendations
Evaluation credit agreements for eligibility criteria of ABL collateral
Determine reserves for any potential collateral shortfalls
Strong fundamental financial and credit analysis utilizing a full compliment of information sources including public filings, equity and fixed income research, Bloomberg and rating agency reports
Excellent oral and written communication skills
Ability to work with all levels of management
Interest in the non-investment grade debt capital markets
Minimum of 3 to 5 years public accounting experience in a Big “4” accounting firm and/or 3 to 5 years field examination experience with an asset based lender
BA in Finance or Accounting
Proficient in Excel, Word and PowerPoint
Travel up to 25%