Analyst, Valuations

Waterfall Asset Management LLC; New York (NY); On-site; USD 70,000 - 90,000; Full time

Job summary

Waterfall Asset Management LLC is seeking an Analyst to join their team in New York. The role emphasizes asset-backed credit valuation and involves tasks such as price verification of illiquid assets and performance monitoring. Candidates should have 2-4 years of relevant experience, proficiency in cash flow modeling tools like Intex and Bloomberg, and strong communication skills. This position offers a unique opportunity to develop a deep understanding of asset-backed products and collaborate across various teams.

Qualifications

• 2-4 years of relevant experience in securitized products or asset-based finance.
• Background from accounting firms, banks, or investment managers.
• Strong knowledge of cash flow modeling tools and fair value accounting.

Responsibilities

• Perform monthly independent price verification of illiquid assets.
• Monitor and track asset performance and sector trends.
• Review valuations produced by third party providers.
• Utilize cash flow modeling tools to value illiquid investments.
• Build and maintain Excel-based cashflow models.
• Prepare monthly documentation detailing performance.
• Collaborate with internal teams on platform-wide initiatives.

Skills

Securitized products

Asset-based finance

Cash flow modeling

Communication skills

Microsoft Office

Programming (Python/R)

Tools

Intex

Bloomberg

Argus

Databricks

Qlik

Tableau

Power BI

Job description

Company Information

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 with 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 December 1, 2025, Waterfall has approximately $12.4 billion in assets under management.

Job Description

This analyst role is designed for a highly motivated individual with a strong work ethic who will contribute meaningfully to the execution of the firm’s valuation policy. The position offers an excellent opportunity to develop expertise in asset-backed credit products and valuation techniques. The analyst will work closely with various stakeholders across the firm including investment teams, portfolio management, client services, operations and accounting teams.

Responsibilities

• Perform monthly independent price verification (“IPV”) of illiquid assets including securitized products (ABS, RMBS, CMBS, CLO), asset-based lending (ABL/ABF), whole loan pools and private equity.
• Monitor and track asset performance and sector trends to inform cash flow modelling and valuation assumptions.
• Review valuations produced by third party providers.
• Utilize cash flow modelling tools such as Intex, Argus Bloomberg to value illiquid/complex investments.
• Build and maintain Excel-based cashflow models for bespoke investments.
• Assist in preparation of monthly documentation/presentations detailing investment or sector-level performance that will be presented to senior management and investors.
• Collaborate with internal teams including client services, operations and accounting on various platform-wide initiatives.

Qualifications

• 2-4 years of relevant experience in securitized products, asset-based finance, real estate, valuations or other related fields.
• Background from accounting firms, banks, investment managers, valuation providers or ratings agencies.
• Experience with cash flow modeling tools such as Intex, Bloomberg or Argus.
• Working knowledge of fair value accounting standards (e.g., ASC 820).
• High degree of proficiency in Microsoft Office products required (VBA a plus).
• Experience with business intelligence platforms such as Databricks, Qlik, Tableau, Power BI is a plus.
• Experience with programming languages such as Python or R is a plus.
• Strong written and oral communication skills.