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.
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Capital Markets Division
City National's Capital Markets Division ("CNBCM") takes a market research and analysis driven advisory approach to deliver customized, best-in-class solutions for our clients. Comprised of Loan Syndications, Global Markets Sales & Trading, International Banking & Trade Finance, and Supply Chain Finance businesses, CNBCM helps clients to achieve their strategic goals by helping to optimize capital structure, structure working capital solutions to improve liquidity and cash flow, mitigate foreign exchange and interest rate market risks, and support cross border activities.
What you will 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.
Must-Have
- Bachelor's Degree
- Minimum 2 years of corporate banking or investment management experience
- Minimum 1 year of experience in corporate credit
Skills and Knowledge
- Must successfully complete and achieve a "4" or "5" rating in the bank's formal credit training program (CNB's Boot Camp) when asked to participate in the program.
- 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
Compensation
Starting 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.
To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
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. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.