Waterhouse-Kern Associates
Vice President Capital Market
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Waterhouse-Kern Associates is proud to be representing a growing, ambitious banking entity based in London, who are expanding their Capital Markets team.
About the role
Structured Credit & Warehouse Lending plays a key execution role within Capital Markets, supporting the build-out of a scalable, commercially viable, risk-managed and capital-efficient warehouse lending platform.
The role will focus on structuring, executing and monitoring warehouse facilities, forward flow arrangements, securitisation and structured credit transactions across multiple asset classes, including SME lending, receivables finance, bridging finance, commercial real estate and specialty finance.
The role holder will independently manage transaction workstreams from initial assessment through to term sheet, due diligence, documentation, approval, funding and ongoing portfolio monitoring.
The role will provide senior technical capability across borrowing base structures, advance rates, eligibility criteria, concentration limits, triggers, waterfalls, servicer arrangements, security structures, financial modelling, capital efficiency and return-on-capital analysis.
The role will operate as a key execution and control resource for the Bank, reducing key-person dependency, strengthening transaction governance and supporting the safe scaling of the warehouse lending business.
Key Areas Of Responsibility
Transaction Structuring & Execution
- Lead the structuring and execution of warehouse lending facilities, forward flow arrangements, securitisations and other structured credit transactions.
- Develop transaction structures that appropriately balance credit risk, regulatory capital efficiency, commercial returns and operational practicality.
- Determine and assess advance rates, borrowing base mechanics, eligibility criteria, concentration limits, covenants, triggers, reserve accounts and waterfall structures.
- Prepare and negotiate indicative term sheets, transaction summaries, commercial proposals and internal approval materials.
- Run transaction workstreams from initial opportunity assessment through to approval, documentation, funding and close.
Credit, Commercial & Portfolio Analysis
- Analyse prospective originators, asset portfolios and historical performance data, including originations, arrears, defaults, recoveries, losses and collections performance.
- Review data tapes, asset-level stratifications, vintage analysis, unit economics and portfolio cashflows to support risk-based pricing and return assessment.
- Assess underwriting standards, credit policies, servicing capability, operational resilience and alignment with GB Bank risk appetite.
- Support pricing, capital efficiency, risk-weight and return-on-capital analysis for each proposed transaction.
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Due Diligence & Third-Party Management
- Coordinate due diligence requests with originators, arrangers, investors, legal counsel, auditors and other third-party advisers.
- Manage independent verification workstreams, including EY / KPMG-style data, receivables and cash reconciliation diligence where required.
- Review due diligence findings and ensure appropriate mitigants, conditions precedent or structural protections are incorporated into transaction documentation.
Documentation & Legal Execution
- Work closely with internal and external legal counsel to negotiate facility agreements, security documents, servicing agreements, account control arrangements and related transaction documents.
- Ensure legal documentation accurately reflects agreed commercial terms, credit protections, governance requirements and operational processes.
- Coordinate completion of conditions precedent, legal execution checklists, closing deliverables and funding mechanics.
Onboarding, Portfolio Monitoring & MI Review
- Oversee onboarding of new facilities, including completion accounts, collection accounts, reporting templates, servicer obligations and collateral monitoring arrangements.
- Monitor live warehouse facilities through review of borrowing base certificates, investor reports, management information, covenant compliance and performance triggers.
- Identify emerging risks, limit breaches, collateral deterioration or reporting issues and escalate with recommended remediation actions.
- Support amendments, waivers, upsizes, refinancing activity and exit planning for existing facilities.
Governance, Stakeholder Management & Regulatory Support
- Prepare high-quality materials for Credit Committee, ALCO, Executive Committee, Board and other internal governance forums.
- Present transaction analysis, recommendations and risk considerations to senior stakeholders in a clear and concise manner.
- Work collaboratively with Treasury, Credit Risk, Legal, Finance, Operations, Risk and Compliance to ensure transactions are executed and monitored within the Bank’s control framework.
- Support internal audit, external audit and regulatory requests relating to structured credit, warehouse lending and securitisation activity.
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A Bit About You – You Are/have
- 5-10+ years’ experience in structured finance, securitisation, asset-backed finance, warehouse lending, private credit or capital markets execution.
- Experience within a bank, investment bank, debt fund, asset manager, specialist lender, rating agency or structured finance advisory platform.
- Demonstrable experience structuring and executing warehouse facilities, borrowing base facilities and / or securitisation transactions.
- Strong technical understanding of advance rates, eligibility criteria, concentration limits, covenant packages, cash waterfalls, reserve accounts, triggers, security structures and servicing arrangements.
- Experience analysing asset-level data, data tapes, collateral pools and historical performance across one or more of SME lending, receivables finance, bridging finance, CRE, consumer finance or specialty finance.
- Strong financial and cashflow modelling capability, including experience working with large data sets and portfolio performance analytics.
- Good understanding of credit risk, risk-based pricing, capital efficiency, regulatory capital considerations and return-on-capital analysis.
- Strong understanding of structured finance documentation and ability to work effectively with internal and external counsel.
- Excellent planning and organisational skills, with the ability to manage multiple live transactions and stakeholders simultaneously.
- Clear written and verbal communication skills, with the ability to present technical information to senior stakeholders and governance committees.
- High attention to detail, strong commercial judgement and ability to make sound decisions in complex or ambiguous situations.
- Energetic, proactive and collaborative, with the ability to build trusted relationships internally and externally.
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