Associate or Director, Risk Manager - Private Credit and Fund Finance

Position Overview

AASP is an indirect, wholly-owned subsidiary of Apollo Global Management, L.P., and serves as the exclusive risk manager for ATLAS SP Partners (detailed below). AASP specializes in managing asset-backed warehouse facilities, securitized products, and other structured finance assets, most of which are sourced and serviced by ATLAS.

ATLAS is a global investment firm focused on delivering stable funding and capital markets solutions to clients seeking innovative, tailored structured credit and asset-backed financing. Originating from Credit Suisse’s Securitized Products Group - formerly a leading provider of credit solutions - ATLAS now operates as an independent securitized credit origination platform. The firm leverages its team’s deep expertise, leadership, and operational excellence to meet the evolving needs of its clients across the full spectrum of ABS financing.

The Role

Apollo's AASP Risk team is seeking a Associate or Director (depending on experience) to report to the Head of Counterparty & Fund Finance and act as one of the primary risk managers for the Private Credit Finance business ("PCF") and Fund Finance transactions. This will include supporting the buildout of the PCF portfolio by partnering closely with the PCF team on all stages of the investment and ongoing portfolio monitoring process, building out second-line risk management reporting and monitoring, and forming credit recommendations on new and existing opportunities.

This individual will conduct analysis and form independent views that will be heavily relied upon by the AASP Risk and Apollo senior risk officers to gain comfort in signing off on transactions. This individual will develop a strong partnership with deal teams to ensure alignment between the business and the firm’s acknowledged risk appetite.  He/She will also be responsible for enhancing the stature of the credit risk team through a strong culture of review and challenge. 

The ideal candidate will have strong knowledge of private credit and middle market lending including experience with the managers in this target market. He or she will have experience and knowledge of ABL, CLO structures, and NAV lending. He/She will have strong written and effective presentation skills. Candidate will be able to manage multiple projects simultaneously.

Primary Responsibilities

At Apollo and ATLAS, we work as one team, partnering across disciplines to share the perspectives and insights that lead us to exceptional opportunities. This role will partner with senior-level professionals with PCF, Fund Finance, and the broader firm at every stage of the investment cycle.

• Provide analytical support for all investment-related activities, including new extensions of credit, amendments, renewals, and post-close portfolio monitoring.

• Work with the business to review and underwrite potential investment opportunities and be able to formulate a view on the structure, clients (i.e., a risk view on the managers), market, collateral, and risk.

• Be responsible for providing input into the modeling, quantitative financial analysis, financial and business due diligence, quarterly reporting, and understanding/monitoring for individual investments.

• Develop investment committee memoranda and materials with senior team members including writing a comprehensive assessment of the risks, mitigants, and recommendation.

• Demonstrate an ability to form an independent view, raise concerns early and consistently, and document the analysis.

• Demonstrate an ability to challenge the business, substantiate support or dissent for a decision, and where there is dissent, propose structural improvements which might move a transaction from “no” to “maybe/yes”.

• Participate in the deal structuring process from inception and be involved over the life cycle of a transaction, with greater involvement should a transaction be underperforming, higher risk, less liquid, more bespoke, etc.

• Be willing to work on additional ad hoc projects including but not limited to portfolio monitoring, reporting, and investor and rating agency requests.

Qualifications & Experience

• 5-10 years of relevant work experience within a Credit Risk Role covering Sponsors and Fund Finance transactions. Middle Market lending and/or Leveraged Finance experience is strongly preferred.
• An understanding of fundamental credit skills, ideally having spent time in a large bank or financial institution with structured credit training programs. Counterparty (fund, sponsor, BDC manager, etc.).
• Strong interest in credit investing, with an interest to focus on various sub-strategies including Direct Lending and esoteric NAV