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 May 31, 2024, Waterfall approximately $12.8 billion in assets under management.
Job Description
The successful candidate will maintain, evaluate, and enhance valuation models of residential and consumer loan products (niche sub-sectors like Non-QM, 2nd lien, and HECM reverse loan products). The candidate will also be involved in the setup of new asset types, technology/data initiatives, and the analysis of P & L.
Specific job responsibilities include:
- Valuations – Manage and assist in quantitative analysis/models to determine appropriate fair value each month. Responsible for publishing and signing off on the firm’s official end of month marks.
- Desk Interface – The Valuations Group is a crucial interface for traders and portfolio managers. The hire will act as a point person for portfolio managers to interface with to resolve pricing, position, technology, risk and security setup related issues.
- Reporting & Audit – Prepare monthly valuation analysis, highlighting key drivers with supporting data for senior management, Valuation Committee, and investors. Assist with yearend valuation audit requests.
- Admin & Process Improvement - Participate in ad hoc projects in coordination with internal teams like Accounting, IT, and Trade Management and Operations. Assist with recurring administrative requirements.
Qualifications and Education Requirements
- The ideal candidate will have 2-6 years of professional experience
- Bachelors required, masters is a plus
- Subject matter knowledge expected in one or more of the following areas: Residential Mortgage Loans, Consumer Loans, or Asset-Backed products
- Strong communication skills and attention to detail
- Advanced proficiency in Microsoft Excel is expected
- Experience with BI platforms such as Databricks, Tableau or Power BI is a plus
- Experience with SQL databases or SQL-like languages is a plus
- CFA designation (or working toward) is a plus