Head of Portfolio Management – Fund Finance

Lending | Portfolio Management | Head of Portfolio Management – Fund Finance | NYC

About ING: 

In Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients. 

 
When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.

We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.

Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the position:

The Head of Portfolio Management is intended to be a VP or Director role that is expected to lead the day‐to‐day operations of FF’s portfolio team and to be fully responsible for ongoing oversight and administration of the FF lending portfolio, both from an administrative and risk management perspective. As a new business unit, the role offers the opportunity to sculpt best‐in‐class processes. The team currently consists of 4‐5 individuals whose obligations principally include:

About the department:

The Fund Finance (“FF”) group at ING Capital offers a broad range of structured finance solutions to clients in the asset management industry, including alternative investment managers and their affiliated investment funds. FF is a leader in its field, frequently acting as lead arranger in transactions as it originates, and we emphasize strong and lasting client relationships.

Principal financing solutions offered to our clients include:

• Portfolio finance facilities/lender finance: financing public and private investment vehicles (e.g. private debt funds, business development companies, and SPVs) based on the characteristics of underlying portfolio investments.
• Subscription finance facilities: financing to private equity, real estate, infrastructure, credit and similar funds based on the quality of investor commitments to the fund.

FF is a dynamic and growing business, now managing more than 100 transactions across more than 40 client relationships. The portfolio management team has been recently created to facilitate the successful oversight and management of this portfolio. This team will work directly with the origination and deal principals in the ongoing compliance, reporting, transaction management, renewals, and relationship management of the portfolio, among other tasks further detailed below.  

Responsibilities :

Day-to-day operations of FF’s portfolio team and to be fully responsible for ongoing oversight and administration of the FF lending portfolio, both from an administrative and risk management perspective. As a new business unit, the role offers the opportunity to sculpt best‐in‐class processes. The team currently consists of 4‐5 individuals whose obligations principally include: 

Portfolio Management

• Maintain the ongoing client relationship o Review ongoing reporting deliverables, including financials, compliance certificates, borrowing bases, and valuation reports o Track covenant compliance.
• Prepare or review collateral monitoring reports.
• Manage portfolio valuation engagements and client audits.
• Prepare quarterly portfolio reports and annual reviews.
• Prepare/review annual risk ratings.

Transaction Management

•  Assist in evaluation of transaction terms and renewals.
• Lead loan modifications and amendment requests.
• Prepare and present early screening memos and transaction renewal proposals.
• Conduct due diligence, including business, credit, financial, regulatory, and legal diligence.
• Prepare credit approval packages.
• Coordinate transaction closing, including liaising with risk management and loan operations

Know Your Customer (“KYC”) Oversight

• Oversee effective execution of front office obligations relating to KYC.
• Coordinate front office KYC efforts with back‐office KYC teams for FF client universe.
• Initiation of new client onboarding procedures.
• Oversee KYC reviews for ongoing portfolio maintenance.
• Coordinate client offboarding.

General

• Ensure that clients receive an excellent level of service.
• P