Syndications Associate Senior Job Listing at City National Bank in New York, NY (Job ID 11672)

Description

SYNDICATIONS ASSOCIATE SENIOR
WHAT IS THE OPPORTUNITY? On sell-side loan syndications team primarily responsible for structuring and executing leveraged finance, middle market corporate, and franchise transactions.The Syndications group at City National Bank resides within the Specialty Banking division and focuses on lead-agented, active book runner roles. The group works with relationship management teams to ensure the marketability of transactions, primarily structure and pricing. Members of the syndicate team maintain an active dialogue with the market provide current updates to both internal and external clients, and support pitching activities in pursuit of new financing opportunities. Structure and pricing guidance is regularly supported by an analysis of comparable financings (comps) and market sounding. The group is further responsible for developing a syndication strategy in support of the credit approval process. Additionally, the group is responsible for the preparation of marketing material such as Confidential Information Memoranda ("CIM"), lender presentations, term sheets, and mandate letters. These documents which provide an overview of the company, the proposed facilities and the investment considerations are used by potential lenders/investors to analyze the credit and seek their internal approvals to commit to the financing. The group also maintains administrative agent responsibilities on a post-closing basis.
WHAT WILL YOU DO?

• Work with Relationship Managers to identify prospective clients for syndicated transactions.
• Help determine optimal capital structure for client and jointly pitch proper debt solutions and other ancillary banking and capital markets products.
• Coverage units may include Structured Finance, Franchise Finance, Mortgage Warehouse, Entertainment, Real Estate, and Capital Finance.
• Successfully negotiate, structure, and arrange CNB-Agented, multi-bank, revolving credit and term loan facilities that reflect market pricing, covenants, and other terms and conditions.
• Stay apprised of market conditions and trends for various coverage units.
• Provide periodic market updates to clients, Relationship Managers, and credit. In addition, conduct specific market testing for prospect transactions prior to launch to accurately assess syndication risk for credit.
• Prepare and present syndications materials such as confidential offering memorandums, term sheets, lender presentations, financial models, and other marketing materials on behalf of clients.
• Be prepared to arrange bank meetings and conference calls with potential lenders and present materials/transaction details.
• Work with clients to select lenders for the bank group and determine commitment allocations.
• Negotiate and review legal documentation such as credit agreements and other ancillary documents with clients (and eventually participating lenders).
• Ensure that documentation reflects agreed upon terms and includes market provisions, including adequate agency and other protections for the Bank.
• Manage the distribution of work flow on deal teams to maximize efficiency, meet deadlines, etc.
• A fully staffed deal team will typically include an Analyst, Associate, Vice President, and a Senior Vice President.
• Act as primary liaison between client and potential lenders during the syndication process and post-closing in an Agency capacity.
• Assist Relationship Managers in the preparation and presentation of internal concept memos credit memorandums for syndicated transactions detailing the description of the proposed transaction, company information, historic financial analysis, projections, market/industry data, distribution strategy, RAROC, etc.
• Be prepared to opine on liquidity/salability of transactions, underwriting risks, etc. in credit committee.
• Build and maintain a strong network of prospective syndicate banks, including local and regional banks, and bank loan syndications trading partners.
• Work with Relationship Managers and Underwriters to continue ongoing portfolio management of Agented transactions, including maintaining ongoing Administrative Agency functions such as maintaining data sites, ensuring timely financial reporting, responding to lender information requests/questions, executing of amendments and waivers, organizing annual lender meetings/calls, etc. (i.e. Agency Services).
• Evaluate broadly syndicated corporate transactions across multiple industry sectors.
• Make recommendations on primary and secondary participations for the bank's non-relationship, syndicated loan portfolio.
• Assist coverage units in the execution of trades in the primary and secondary markets.
• Assist Group Head with internal matters related to the implementation of the group, including but not limited to, the amendment credit policy, creating of operational procedures, correspondence with accounting and finance, vendor management, recruiting/staffing, etc.
• Mentor junior staff
• Other responsibilities as required by Group Head.
• Identify prospective and existing customers in which a multi-bank debt financing solution is optimal.
• Actively work with customers and develop prospects to build profitable relationships consistent with the objectives of the bank.
• Originate, structure and arrange CNB-led, multiple bank, revolving credit and term loan transactions that are consistent with the credit culture of the bank and reflective of current market conditions.
• Minimize bank's credit risk by creating a distribution platform.
• Stay apprised of the current market conditions for each coverage sector by developing internal and external relationships with credit, coverage units, clients, prospects, legal counsel, and other lending institutions/trading partners.
• Provide market feedback and advisory services on transaction structure and pricing to coverage units, credit, and other internal parties.
• Develop relationships and support other CNB departments and colleagues to provide customers and prospects the solutions recommended.
• Continue to assist Relationship Managers and Underwriters in the ongoing portfolio management by providing post-closing agency services and acting as the primary liaison between the client and the lenders in the bank group.

WHAT DO YOU NEED TO SUCCEED?
Required Qualifications*

• Bachelor's Degree or equivalent
• Minimum 3 years of banking experience
• Completion of formal bank credit training program

Additional Qualifications

• Completion of formal bank credit training preferred
• Must have prior commercial or investment banking experience
• Must possess excellent verbal, written, and presentation skills
• Competent with technology
• Proficient in Microsoft Office
• Ability to work both independently and as part of a deal team
• High degree of maturity and integrity with a positive and hardworking attitude
• Attention to detail

WHAT'S IN IT FOR YOU? Compensation Starting base salary: $92,114 - $156,880 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.
ABOUT US Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

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