Operations Associate, Private Debt

Audaxgroup; Boston (MA); Hybrid; USD 72,000 - 130,000; Full time

Benefits offered by this job

Health insurance

Life insurance

Disability insurance

Paid time off

401(k) plan

Job summary

Audaxgroup, based in Boston, is seeking a detail-oriented team member for the Private Debt Operations Team. This role involves coordinating and executing all aspects of trade closing, ensuring compliance, and maintaining accuracy across financial processes.

The ideal candidate should have a BS in Finance or related fields, 5-8 years of experience, and a strong ability to manage multitasking in a fast-paced environment. Benefits include health insurance and a 401(k) plan.

Qualifications

• 5-8 years of professional experience, primary focus on debt products is a plus.
• Ability to multitask and prioritize a time-sensitive workload.

Responsibilities

• Lead daily trade activity including settlements of Primary and Secondary trades.
• Ensure compliance and resolve trade discrepancies with counterparties.
• Prepare reports for cash borrowing needs and repayments.
• Assist in developing operational controls, policies, and procedures.

Skills

Strong organizational skills

Interpersonal and communication skills

Advanced knowledge of Excel

Working knowledge of WSO, ClearPar, and BlackMountain

Education

BS in Finance, Accounting, Economics, Business Management, or related major

Job description

Founded in 1999, Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, London and Hong Kong. With approximately $42 billion of assets under management and more than 475 employees, Audax is a leading capital partner for middle market companies, operating through three business lines: Audax Private Equity, Audax Private Debt, and Audax Strategic Capital.

Position Summary

This role is responsible for various functions within the Private Debt Operations Team. This team member will work closely with the deal and Finance teams in coordinating and executing all aspects of the trade closing process through review of allocations, legal documents, and the flow of funds while executing wire transfers. The role entails working alongside and guiding relationships with Trustees, tracking cash and purchasing power, using a variety of systems to accurately reflect the business’s holdings, and working on daily leverage facility needs while promoting an environment of compliance, efficiency, and accuracy.

The ideal candidate is a self-motivated and detail-oriented team player with strong technical skills able to effectively and concisely complete tasks in a timely manner.

Responsibilities

Loan Servicing:

• Lead daily trade activity by contributing to the settlement of Primary and Secondary trades with counterparties utilizing WSO, ClearPar, and BlackMountain systems
• Interact daily with Portfolio Managers and PD Fund Management Team for allocations and coordination of trade settlements
• Work with senior members of the Operations Team on direct deal closings and transfer projects
• Coordinate with agent banks on a regular basis – resolution of trade discrepancies, timing of trade closing, and KYC
• Work closely with Trustee/Custodians on trade fundings and record keeping while assisting with daily inquiries across holdings
• Record and verify Paydowns/Drawdowns, Interest rate resets, PIK interest calculations, and Delayed Comp accruals/calculations
• Work with the TresVista team in the reconciliation and trade closing processes along with executing upcoming Revolver and Delayed Draw fundings
• Contribute to BMS/WSO system accuracy and items for daily processing

General Operations:

• Assist with new fund onboarding and opening new bank accounts
• Coordinate with Operations, Finance, and Treasury teams on set up, release, and documentation of wires
• Monitor, review, and seek resolution of compliance issues with deal team and compliance groups
• Prepare daily and monthly reports across a variety of Asset Backed Lending, CLO Lite, Line of Credit, and Warehouse facilities for cash borrowing needs, repayments, and reporting requirements
• Monitor cash flow analysis and assist deal team and Finance with capital calls, distributions, and equity contributions
• Assist in developing, implementing and reviewing operational controls, policies, and procedures
• Assist with the audit confirmation and AUP testing procedures

Requirements/Qualifications

• BS in Finance, Accounting, Economics, Business Management, or a related major
• At least 5-8 years of professional experience, primary focus on debt products a plus
• Working knowledge of WSO, ClearPar, and BlackMountain a plus
• Advanced knowledge of Excel
• Strong organizational skills with the ability to multitask and prioritize a time sensitive workload
• Strong interpersonal and communication skills

Location

Boston, MA Hybrid

Compensation

The base salary range for this position is $72,000 - $130,000. The base salary range represents the estimated low and high end for this position at the time of this posting. Consistent with applicable law, compensation may vary and will be determined based on but not limited to, the skills, qualifications, and experience of the applicant along with the requirements of the position, and Audax reserves the right to modify this pay range at any time. An employee may also be eligible for annual discretionary incentive compensation based on performance.

Benefits

Audax offers a wide range of employee benefits, including health insurance, life insurance, disability insurance, paid time off (including sick leave, parental leave, volunteer leave, and vacation), charitable donation match, family support services (including Bright Horizons and Benefit Advocate Center), and a 401(k) in addition to other benefits.

Job Description Disclaimer

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.

Equal Opportunity Employer

Audax Management Co. is an equal opportunity employer.