VP, Private Investment Operations, Private Credit
Apply NowCompany: PPM America, Inc.
Location: Chicago, IL 60629
Description:
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Working at PPM America, Inc.
PPM America, Inc. (PPM) is a client-focused investment manager, and our mission is to deliver client-specific solutions and world class service to investors in the pursuit of their unique investment objectives. PPM prides itself on being a nimble, investment-led organization that is responsive to the opportunities that our teams discover together. Click here for a description of our assets under management and our investment strategies.
PPM was named one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We attract professionals who exhibit humbleness, directness, and dedication. Our communication style is informal, and we encourage collaboration by giving our teams the freedom to speak openly and share new ideas. PPM's values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career, and at PPM you would join a community of employees with a long track record of dedicating their time and support to local nonprofits with the effort of strengthening local families and increasing economic opportunities.
At PPM, we believe that diversity and inclusion are integral to the success of our growth and longevity. PPM is committed to a culture of respect and believe that inclusion is the key to this culture, enabling our ability to innovate, execute, and grow for the benefit of our associates, clients, shareholders, and the communities where we live.
Portfolio Services
The Portfolio Services Department is a dynamic, fast-paced team that provides a broad spectrum of operational support to PPM and fiduciary oversight of its client investments and assets. The Department supports all asset management activities in the trade lifecycle, including portfolio management, trade execution, and client reporting. Functionally oriented teams include: Public Securities & Private Investment Operations, Derivatives Administration, Performance Analytics, Data Management and Business & Product Reporting. A high level of collaboration coupled with extensive cross-training promotes flexibility, scalability and professional development. Portfolio Services is centrally positioned to engage with PPM's investment and administrative teams to meet the firm's strategic objectives. The department maxim is to be indispensable to our clients through timely, complete and accurate execution of roles and responsibilities.
Summary
Private Investment Operations provides a centralized and coordinated function supporting syndicated bank loan, CLO and investment grade private credit strategies across PPM's many business units. The team is responsible for trade processing and settlement activities, daily cash availability reporting, portfolio investment accounting, refinancing and restructuring activity and other ad hoc syndicated loan and investment grade private credit activities. Additionally, the team manages CLO administration activities including warehouse borrowings, warehouse-to-launch processes, and financial statement reviews.
The team's day-to-day activities include direct engagement with various teams including Investment Management, CLO Management, Performance Analytics, Public Securities Operations, IT, internal and external service providers and clients. The team maintains a highly collegial and collaborative environment with clear operational accountabilities and a focus on skill development and advancement, use of technology, and process optimization.
Role Specifics
The role is specific to supporting the private credit strategies that PPM manages which include investment grade private credit (private placements), credit tenant leases (CTLs), variable funding notes (VFNs) and other private credit instruments. The candidate must exhibit a high attention to accuracy and detail and a willingness to drive process improvements and automation to enhance operational efficiency. This role involves significant interaction with investment team members as well as other process owners, subject matter experts and stakeholders. The role regularly collaborates with external legal counsel, clients and their service providers, to manage position life cycle activities and ensure that the IBOR is complete and accurate. The role also serves as oversight function to analysts that support Private Investment Operations.
Responsibilities:
Skills, Experience and Qualifications:
The ideal candidate is a self-starter who is experienced in investment grade private credit documentation and processes and passionate about financial services. The candidate should enjoy and demonstrate effectiveness in working in a team environment, as well as working independently to drive results with a high degree of professionalism and client focus. Effective communication skills are critical to this role, as the candidate must demonstrate the ability to interpret, distill and present a variety of financial data to various constituents in support of maintaining the firm's IBOR and portfolio level data.
Required Skills:
Benefits:
At PPM, we offer opportunities to get involved with a diverse network of peers and support the causes that are important to you. Your enthusiasm and talents can make a lasting impact on our organization and our community.
Employment Benefits
Our employees go the extra mile every day, and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company.
#LI-KL1
Equal Employment Opportunity PPM America, Inc. is an equal opportunity employer and we base our employment decisions without unlawful regard or consideration of an individual's race, color, religion, national origin, sex, gender, sexual orientation, ancestry, citizenship, age, marital status, veteran status, medical condition, non-job related disability, pregnancy or any other basis protected by federal, state, or local law.
Base Pay:
$116,000.00 - $136,000.00. The base salary for this position may vary depending on experience, job-related knowledge, skills, and abilities. In addition to the base salary, this role will be eligible to participate in our annual bonus program. This role will also be eligible for compensated personal time off and holidays, health benefits, 401(k) plan with generous matching and profit sharing contributions, and other benefit programs according to the Company's employment policies and subject to the formal terms of such plans and programs.
Working at PPM America, Inc.
PPM America, Inc. (PPM) is a client-focused investment manager, and our mission is to deliver client-specific solutions and world class service to investors in the pursuit of their unique investment objectives. PPM prides itself on being a nimble, investment-led organization that is responsive to the opportunities that our teams discover together. Click here for a description of our assets under management and our investment strategies.
PPM was named one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We attract professionals who exhibit humbleness, directness, and dedication. Our communication style is informal, and we encourage collaboration by giving our teams the freedom to speak openly and share new ideas. PPM's values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career, and at PPM you would join a community of employees with a long track record of dedicating their time and support to local nonprofits with the effort of strengthening local families and increasing economic opportunities.
At PPM, we believe that diversity and inclusion are integral to the success of our growth and longevity. PPM is committed to a culture of respect and believe that inclusion is the key to this culture, enabling our ability to innovate, execute, and grow for the benefit of our associates, clients, shareholders, and the communities where we live.
Portfolio Services
The Portfolio Services Department is a dynamic, fast-paced team that provides a broad spectrum of operational support to PPM and fiduciary oversight of its client investments and assets. The Department supports all asset management activities in the trade lifecycle, including portfolio management, trade execution, and client reporting. Functionally oriented teams include: Public Securities & Private Investment Operations, Derivatives Administration, Performance Analytics, Data Management and Business & Product Reporting. A high level of collaboration coupled with extensive cross-training promotes flexibility, scalability and professional development. Portfolio Services is centrally positioned to engage with PPM's investment and administrative teams to meet the firm's strategic objectives. The department maxim is to be indispensable to our clients through timely, complete and accurate execution of roles and responsibilities.
Summary
Private Investment Operations provides a centralized and coordinated function supporting syndicated bank loan, CLO and investment grade private credit strategies across PPM's many business units. The team is responsible for trade processing and settlement activities, daily cash availability reporting, portfolio investment accounting, refinancing and restructuring activity and other ad hoc syndicated loan and investment grade private credit activities. Additionally, the team manages CLO administration activities including warehouse borrowings, warehouse-to-launch processes, and financial statement reviews.
The team's day-to-day activities include direct engagement with various teams including Investment Management, CLO Management, Performance Analytics, Public Securities Operations, IT, internal and external service providers and clients. The team maintains a highly collegial and collaborative environment with clear operational accountabilities and a focus on skill development and advancement, use of technology, and process optimization.
Role Specifics
The role is specific to supporting the private credit strategies that PPM manages which include investment grade private credit (private placements), credit tenant leases (CTLs), variable funding notes (VFNs) and other private credit instruments. The candidate must exhibit a high attention to accuracy and detail and a willingness to drive process improvements and automation to enhance operational efficiency. This role involves significant interaction with investment team members as well as other process owners, subject matter experts and stakeholders. The role regularly collaborates with external legal counsel, clients and their service providers, to manage position life cycle activities and ensure that the IBOR is complete and accurate. The role also serves as oversight function to analysts that support Private Investment Operations.
Responsibilities:
- Manage all operational aspects of private investment trade activity including:
- Prepare and coordinate closing and exchange documentation
- Manage funding instructions
- Research and reconcile IBOR security details (i.e. attributes, rates, payment schedules) or payment discrepancies
- Coordinate physical note activity with clients including re-registration, bond powers, note splits and delivery instructions
- Prepare client reporting and audit responses
- Promote continual processes improvement by:
- Identifying risks and developing and overseeing mitigating controls
- Identifying, recommending and implementing change and automation
- Work collaboratively with other Private Investment Operations team members:
- Mentor / oversee junior portfolio analyst execution of private credit responsibilities
- Provide additional operational support where and when needed
- Assist with "ad hoc" and special client/business driven projects
- Participate and provide cross training with the Public Securities Operations team on an ad hoc basis
Skills, Experience and Qualifications:
The ideal candidate is a self-starter who is experienced in investment grade private credit documentation and processes and passionate about financial services. The candidate should enjoy and demonstrate effectiveness in working in a team environment, as well as working independently to drive results with a high degree of professionalism and client focus. Effective communication skills are critical to this role, as the candidate must demonstrate the ability to interpret, distill and present a variety of financial data to various constituents in support of maintaining the firm's IBOR and portfolio level data.
Required Skills:
- BS degree or equivalent
- Minimum eight years of practical hands-on experience related to private credit, preferably in insurance or finance
- Thorough understanding of private credit documentation (Note Purchase Agreements, indentures, physical notes, bond powers, credit agreements)
- Critical thinking, analysis, troubleshooting, and problem-solving expertise, with demonstrated expertise in resolving payment, sinking fund/amortization, or position setup issues; as well as DWAC and 144a settlements
- Ability to prioritize and independently manage multiple deadlines
- Strong written and verbal communication skills
- Unquestionable professional integrity
- Strong teamwork-based approach to work and collective activities
- Experience with managing junior staff
- Experience and Skills with Blackrock's Aladdin applications (Trade Entry, Dashboard, Cash tools) a plus
- Experience with Wall Street Office products (Administrator, Reporting) a plus
Benefits:
At PPM, we offer opportunities to get involved with a diverse network of peers and support the causes that are important to you. Your enthusiasm and talents can make a lasting impact on our organization and our community.
Employment Benefits
Our employees go the extra mile every day, and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company.
- Competitive salary and bonus
- Medical, dental and vision coverage
- 401k retirement plan with dollar-for-dollar matching contributions (up to 6% of salary)
- Tuition and professional certification reimbursement
- Paid parental leave
- Adoption assistance
- Holidays and paid time off
- Paid time off to volunteer
- Life insurance
- Gift matching
#LI-KL1
Equal Employment Opportunity PPM America, Inc. is an equal opportunity employer and we base our employment decisions without unlawful regard or consideration of an individual's race, color, religion, national origin, sex, gender, sexual orientation, ancestry, citizenship, age, marital status, veteran status, medical condition, non-job related disability, pregnancy or any other basis protected by federal, state, or local law.
Base Pay:
$116,000.00 - $136,000.00. The base salary for this position may vary depending on experience, job-related knowledge, skills, and abilities. In addition to the base salary, this role will be eligible to participate in our annual bonus program. This role will also be eligible for compensated personal time off and holidays, health benefits, 401(k) plan with generous matching and profit sharing contributions, and other benefit programs according to the Company's employment policies and subject to the formal terms of such plans and programs.