SYNDICATIONS ASSOCIATE
WHAT IS THE OPPORTUNITY?
Analyst/Associate on sell-side loan syndications team primarily responsible for working on deal teams that execute leveraged finance, middle market corporate, commercial real estate, and franchise transactions.The Syndications group at City National Bank resides within the Capital Markets 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?
Stay apprised of market conditions and trends for various coverage units by reviewing market comps, reading industry news, researching syndicated loans on Bloomberg, speaking with other lenders, etc.
Current coverage units may include Specialty Banking, Entertainment, Real Estate, Commercial Banking and National Corporate Banking.
Work on deal terms and help prepare syndications materials such as confidential offering memoranda, term sheets, lender presentations, financial models, and other marketing materials.
Assist in the preparation of internal credit memorandums and underwriting of syndicated transactions to develop credit analytic and loan structuring skills.
Monitor CNB's Agented loan portfolio.
Work with Syndications Managers and coverage units to continue ongoing portfolio management of Agented transactions post-closing, including maintaining ongoing Administrative Agency functions such as maintaining data sites, ensuring timely financial reporting, responding to lender information requests/questions, organizing annual lender meetings/calls, etc. (i.e. Agency Services).
Start building relationships and interacting with prospective syndicate banks, including local and regional banks, and bank loan syndications trading partners.
Compile, maintain, and monitor pricing and structural comps for broadly syndicated corporate transactions recently launched in the primary market.
Other responsibilities as required by Team Leader or Group Head.
Assist Syndication Managers in identifying prospective and existing customers in which a multi-bank debt financing solution is optimal.
Shadow Managers as they 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.
Focus on the development of credit analytics, loan structuring skills, sales/syndication skills.
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 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 2 years of corporate banking or investment management experience
Minimum 1 year of experience in corporate credit
Additional Qualifications
Must possess excellent verbal, written, and presentation skills
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?
CompensationStarting base salary: $87,027 - $138,965 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 https://careers.cnb.com/benefits.
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 https://www.cnb.com/about-us.html.
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.
