Description
The Associate III position in Leveraged Finance is a credit underwriting and portfolio management role focused on completing acquisition, recapitalization, restructuring, and refinancing transactions for new and existing customers of Citizens. The position requires constant interaction with internal colleagues from Commercial Banking, Credit Risk Management, and Capital Markets. The candidate will be working as part of a deal team on financing opportunities including underwriting, obtaining internal credit approval, and completion of the documentation and closing process. Associates will be directly involved in establishing and performing underwriting due diligence, identifying key transaction risks and mitigating factors, and obtaining credit approval for proposed transactions. Day-to-day activity will involve supporting Portfolio Managers with portfolio management, including, but not limited to: Quarterly Portfolio Reviews, Asset Quality Reporting, Covenant Tracking, Financial Statement Analysis, and completion of various internal modeling tools.
The Associate will be assigned to one or more Industry sectors, depending on need. Preference for Associates with leveraged finance skills and prior experience underwriting Lead Arranger, Sole Bank, Club or Participant transactions.
Primary responsibilities include
Assisting in the completion of new and existing loan underwriting due diligence, including preparation of deal screening memos, identification of risks and mitigants, new credit approval requests, preparation of three-statement financial models, in-depth financial analysis, and completion of comparable debt and enterprise value analysis
Conducting industry research, preparing written summaries of industry issues, risks, opportunities, and the competitive environment, and communicating questions or observations
Strong knowledge and utilization of internal risk and return models and loan systems
Monitoring for the receipt and accuracy of client reporting including financial statements, and covenant compliance certificates and completing quarterly analysis and annual reviews
Participation in Team Meetings, Capital Markets calls, and broader Commercial Banking calls.
Participation in deal screen presentations and credit approval meetings
Participation in client conference calls and client meetings
Networking within the team and the Commercial Bank
Completion of Ad-hoc projects
Qualifications, Education, Certifications and/or Other Professional Credentials
5+ years of Commercial or Leveraged Lending experience.
Existing knowledge of leveraged loan market and bank regulation and compliance
Advanced analytical, loan structuring, underwriting, documentation, credit, presentation, and organization skills.
Strong credit acumen
Due diligence analysis
High level of initiative and ability to work independently
Self-starter with professional maturity and natural intellectual curiosity
Strong work ethic and ability to multi-task effectively in a fast-paced environment
Excellent interpersonal and verbal/written communication skills
Solid technical skills and exceptional attention to detail
Strong project management and organizational skills
Resourceful team player who can work closely with others to complete projects under tight deadlines
Excellent modeling skills and ability to complete various enterprise valuation methodologies
Bachelor's Degree in Business, Finance, Accounting, Economics, or equivalent work experience
Software skills: MS Office (Word, Excel, PowerPoint) proficiency.
Hours & Work Schedule
Hours per Week: 40+
Work Schedule: Monday - Friday
Pay Transparency
The salary range for this position is $150,000 to $170,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the budget, work location, and relevant skills and experience.
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens' paid time off policy exceeds the mandatory, paid sick or paid time-away policy of very local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.
Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.
Equal Employment Opportunity
Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
Background Check
Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.
12/26/2026
