Credit Associate, Art Finance (Asset Based Lending)
About the Role
Yieldstreet’s Investment Team is looking for an experienced Investment Credit Associate. You will report to the Director of Athena Art Finance and play an integral part in the growth of Yieldstreet's Art Finance asset class. We do not require Art experience or knowledge, as this position focuses on finance due diligence, specifically in Asset Based lending against artworks. You will work with senior members of the team, primarily focusing on the structuring and underwriting of transactions using credit analytics and sound business judgment, as well as supporting portfolio management and marketing.
The ideal candidate has a deep understanding of credit underwriting, financial modeling, and structured credit with a proven track record of success in the lending industry. With a minimum of 5 years of relevant experience, you will independently underwrite deals and shepherd them from initial structure through underwriting, credit approval, to closing. Your responsibilities will extend to the development of investor-facing materials.
Yieldstreet’s mission is to provide access to alternative investments to change the way wealth is created and help millions on their path to financial independence. Athena Art Finance has originated ~$700M in art loans and 8 Diversified Art Debt Offerings, making it a leading independent art finance company. Athena is also the manager of Yieldstreet’s Art Equity Funds. While your primary focus will be on the Art debt business, this role presents an exciting opportunity to contribute to the Art Equity business as well.
This is a full-time position for an employee based in New York, qualified to work in the U.S.This role will be based out of the NYC office and requires someone to be in the office 3 days/week
What You'll Do:
- Own the preparation, coordination and completion of credit memos and submissions to the Investment Committee and Offering materials for Yieldstreet Art Debt and Equity offerings
- Conduct financial due diligence, including analysis of loan structure and creditworthiness
- Prepare engagement letters, review loan documents to ensure alignment with term sheet and that all protections are fully captured
- Coordinate loan fundings, prepare closing statements and monitor the loan portfolio to ensure compliance with all covenants in credit facilities
- Liaise with Product Marketing, Transaction Management, Portfolio Management, Legal, Finance, Accounting and FinOps teams
- Support Athena’s accounting, treasury function, expense, and AP management by reviewing and monitoring monthly borrower invoices, ensure fees are correctly invoiced and allocated
- Coordinate due diligence requests related to year-end banks audits, field exams, bank financings and third-party RFPs
- Prepare financial models, measure portfolio and financial performance for art funds, including forecasting tools, stress-testing, etc.
- Help to execute financing transactions, including warehouse facilities, securitizations, and other financing activities
What You’ll Need:
- Bachelor’s Degree
- 5+ years of asset based lending with credit underwriting experience
- Experience in financial statement analysis, financial modeling or financial valuation; preparing financial information, interpreting financial performance and assessing risk exposure
- Ability to explain and present financial concepts and complex information concisely in both verbal and written forms
- Must be an effective and proactive problem-solver; able to analyze situations thoroughly and to anticipate problems before they arise
- Excellent organizational skills and high attention to detail
- Deal Execution mindset
- Proficiency in Microsoft Office, including Word, Excel and PowerPoint
- Ability to work seamlessly in a cross-functional team environment spanning multiple disciplines
- Ability to thrive in a fast paced startup environment
- Ability to think analytically, build narrative, and synthesize quantitative and qualitative findings; use data to make business decisions
- Able to work legally within the United States
Yieldstreet is the leading private market investment platform. We believe that private market alternatives should be a fundamental part of your portfolio. That’s why we’re unlocking access to make it easier than ever to get started. We partner with top-tier investment managers to provide investors with a wide range of opportunities across real estate, venture capital, private equity, art, short term notes and more. All of our offerings are curated and vetted by our team to help investors diversify away from the stock market with confidence.
Join a team of diverse, smart, and friendly people from 8 different countries who speak a total of 17 different languages who are on a mission to make alternative investments a fundamental part of the modern portfolio. Our team is comprised of successful entrepreneurs with combined exits of over $1B. We get social with each other during happy hours, exercise classes and team off sites! We are a hybrid work company giving you the opportunity to connect with your peers in real time with the flexibility to work remotely a few days per week.
What’s in it for you: (US only)
Competitive compensation packages including equity
Health, dental & vision coverage with FSA/HSA options
Learning and Development stipend
Paid lunch once a week
HIRING SALARY RANGE: $130,000 + (Actual salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.) Compensation package also includes equity.