ABOUT SOTHEBY'S
Established in 1744, Sotheby’s promotes access and ownership of exceptional art and luxury objects through auctions, private sales and retail. Our deep expertise across 70 selling categories is supported by a leading technology platform and a global network of specialists spanning 40 countries. Selling categories include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits and Design, as well as collectible cars and real estate through RM Sotheby’s and Concierge. Sotheby’s Financial Services is a leading art lender and provides capital solutions for collectors around the world, having originated more than $12 billion in loans since its inception. Sotheby’s new global headquarters is now open at the iconic Breuer building at 945 Madison Avenue in New York City.
THE ROLE
As an Associate within the Client Success team, you will be a core member of the rapidly growing Sotheby’s Financial Services (SFS) team, playing a key role in the underwriting and ongoing management of the U.S. managed SFS portfolio. This position will be primarily responsible for conducting loan underwriting activities, including credit analysis, transaction evaluation, underwriting execution, and preparation of materials for credit approval, while also overseeing collateral management and servicing functions across an assigned portfolio. You will develop deep expertise in our underwriting and operational processes, collaborate directly with clients throughout the financing lifecycle, and partner closely with cross-functional teams to ensure sound credit execution, effective portfolio management, and the continuous enhancement of SFS processes.
RESPONSIBILITIES
Underwriting
- Critically assess borrower, collateral, and operational risks to develop a holistic view of credit quality and lending risk.
- Analyze and evaluate proposed collateral using market data, comparable transactions, auction results, and industry expertise.
- Lead preparation of credit approval memos for new loans, amendments, and restructurings, clearly articulating transaction structure, credit rationale, key risks, mitigants and overall recommendation.
- Coordinate with Sotheby’s auction house departments to complete all diligence and underwriting requirements per the SFS Loan Policy
- Independently liaise with clients to gather necessary supporting documentation (including evidence of ownership/identity, corporate documents, and insurance)
Deal Management
- Monitor active loan portfolio to minimize risk of default and to ensure compliance with SFS underwriting policies and external financing facilities, working in close collaboration with Global Lending and Risk teams.
- Manage deals from initial diligence through funding and eventual repayment
- Drive on-time renewals of existing loans
- Engage with client and internal resources to identify, prioritize, and execute on client requests efficiently and effectively.
- Identify areas for improvement, and participate in efforts to implement solutions and scale SFS business as needed.
- Present underwriting recommendations, portfolio updates, and transaction status to senior leadership, clients, and other stakeholders.
- Manage multiple concurrent transactions and portfolio priorities in a fast-paced environment, balancing competing deadlines while maintaining accuracy and attention to detail.
Collateral Management
- Track and manage collateral by coordinating property receipt, releases, viewings, and restoration; interacting with third-party stakeholders including warehouses, shippers, museums, clients, and restorers, as necessary.
- Liaise with insurance providers to ensure all collateral is properly covered for the life of the loan
- Maintain accurate reporting on collateral location and status
IDEAL EXPERIENCE & COMPETENCIES
Bachelor's Degree
- 5+ years of professional experience, preferably in a client-facing role within financial services or an auction house.
- Professional experience within the art market, automotive industry, or a related institution or business (e.g., auction house, gallery, museum, art advisory, automotive valuation, underwriting, or lending) is preferred.
- Organized, reliable, and capable of working well as part of a small team.
- Critical thinker who is able to quickly assess issues and risks and develop effective solutions
- Self-motivated with strong time management and prioritization skills.
- Strong analytical and financial acumen, with the ability to evaluate complex financial information, make sound credit recommendations, and communicate findings effectively to senior stakeholders.
- Client service-oriented with strong presentation development, communication, and public speaking skills.
- Comfortable operating in an entrepreneurial, evolving environment where processes are continuously refined and individuals are expected to take ownership and drive improvements.
- Experience with Salesforce, or other CRM solution, is a plus
- Fluency in a second language would be advantageous
The proposed base salary for this position ranges from $75,000-$105,000. In addition to base salary successful candidates are eligible to receive a discretionary bonus, as well as a competitive benefits package. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, licensure or certifications obtained. Market and organizational factors are also considered.
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The Company is an equal opportunity employer and considers all applicants for employment without regard to race (including, without limitation, traits historically associated with race, such as natural hair, hair texture, and protective and treated or untreated hairstyles), color, creed, religion, sex, sexual orientation, marital or civil partnership/union status, national origin, age, disability, pregnancy, genetic predisposition, genetic information, reproductive health decision, sexual orientation, gender identity or expression, alienage or citizenship status, domestic violence victim status, military or veteran status, or any other characteristic protected by federal, state/province or local law. The Company complies with applicable state and local laws prohibiting discrimination in employment in every jurisdiction in which it operates.
