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- Tasks: Analyse financials and build bespoke models to assess credit risk in a dynamic environment.
- Company: Fast-growing private credit fund based in London with a flat structure.
- Benefits: Gain direct exposure to senior decision-makers and immediate responsibility for impactful analysis.
- Other info: Ideal for those who thrive on independent thinking and entrepreneurial spirit.
- Why this job: Join a high-performing team where your insights shape investment decisions from day one.
- Qualifications: 2-5 years in private credit or structured finance with strong Excel modelling skills.
The predicted salary is between 50000 - 70000 £ per year.
A fast-growing, London-based specialist private credit fund is seeking a technically strong Associate to join its investment team. The business deploys capital across SME cashflow lending, asset-backed finance, real estate, forward flow, and platform lending strategies. This is not a traditional institutional environment. There are no rigid templates or predefined underwriting models—every deal requires independent thinking, bespoke modelling, and genuine credit judgement. You will join a small, high-performing team where your analysis directly influences investment decisions from day one.
What Makes This Role Different
- Direct exposure to senior decision-makers within a lean team
- Immediate responsibility for financial modelling and analysis
- Exposure across multiple asset classes
- Strong analytical thinking is recognised. Weak analysis is challenged.
Key Responsibilities
- Analyse borrower financials and large, unstructured loan datasets
- Build bespoke Excel models from first principles to assess credit risk
- Identify inconsistencies and challenge borrower assumptions
- Construct default curves, vintage analysis, and roll-rate matrices
- Model SME cashflows, covenant headroom, and downside scenarios
- Assess underwriting methodologies of lending platforms
- Evaluate probability of default using quantitative and qualitative factors
- Translate complex analysis into clear credit recommendations
- Engage with origination channels (e.g. brokers) to support deal flow
- Support relationship management and post-investment monitoring
Technical Requirements
This role requires strong modelling capability and intellectual curiosity around risk:
- Ability to build complex Excel models from a blank workbook
- Experience handling large datasets (20k+ rows)
- Knowledge of vintage, cumulative default, and roll-rate analysis
- Ability to reconcile inconsistencies in borrower data
- Flexibility to apply different analytical frameworks across asset classes
- Advanced Excel skills (Pivot Tables, XLOOKUP/INDEX-MATCH, SUMIFS, dynamic modelling)
Ideal Background
- 2–5 years’ experience in one or more of the following:
- Private credit
- Structured or specialty finance
- Asset-backed lending
- Structured products
Exposure to multiple credit types is highly desirable. Analytical and performance-driven. Entrepreneurial rather than institutional. Flat structure with high ownership.
You will work closely with senior team members and develop practical credit judgement across a broad range of transactions.
Who Will Thrive
This role suits someone who:
- Enjoys building rather than operating processes
- Is intellectually curious about credit risk
- Is comfortable making decisions with imperfect data
- Thinks independently rather than relying on templates
- Can move between consumer-style portfolio modelling and SME underwriting
- Has strong commercial awareness (not purely academic)
Associate – Private Credit (SME Lending) in London employer: Cobalt Recruitment
Contact Detail:
Cobalt Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Associate – Private Credit (SME Lending) in London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. The more you engage with others, the better your chances of landing that Associate role.
✨Tip Number 2
Show off your analytical skills! Prepare to discuss your past experiences with financial modelling and credit analysis in detail. Be ready to share examples of how you've tackled complex datasets and made decisions based on your findings.
✨Tip Number 3
Be proactive! Don’t just wait for job openings to pop up. Reach out directly to companies you're interested in, including us at StudySmarter. Express your enthusiasm and ask about potential opportunities.
✨Tip Number 4
Prepare for interviews by practising your pitch. Highlight your unique skills and how they align with the role. Remember, it’s all about showcasing your independent thinking and ability to adapt to different analytical frameworks.
We think you need these skills to ace Associate – Private Credit (SME Lending) in London
Some tips for your application 🫡
Show Your Analytical Skills: Make sure to highlight your analytical thinking in your application. We want to see how you approach complex problems and your ability to build bespoke models from scratch. Use examples that showcase your experience with financial analysis and credit risk.
Be Authentic and Independent: Since we’re not a traditional institution, we value independent thinking. Don’t be afraid to express your unique perspective in your application. Share instances where you’ve challenged assumptions or taken initiative in your previous roles.
Tailor Your Application: Customise your CV and cover letter to reflect the specific requirements of the Associate role. Mention your experience with SME lending and any relevant asset classes. We love seeing candidates who take the time to align their skills with what we’re looking for.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures it gets into the right hands. Plus, it shows you’re proactive and keen to join our team!
How to prepare for a job interview at Cobalt Recruitment
✨Know Your Numbers
Brush up on your financial modelling skills before the interview. Be ready to discuss how you would build bespoke Excel models from scratch, as this role demands strong analytical thinking and the ability to handle large datasets. Practise explaining your thought process clearly.
✨Show Your Independent Thinking
This isn't a traditional environment, so be prepared to demonstrate your ability to think independently. Bring examples of past experiences where you had to make decisions with imperfect data or challenge assumptions. Highlight your entrepreneurial mindset!
✨Understand the Asset Classes
Familiarise yourself with different asset classes relevant to the role, such as SME cashflow lending and asset-backed finance. Be ready to discuss how you would approach analysing these types of investments and what factors you would consider in your credit assessments.
✨Engage with Real-World Scenarios
Prepare for scenario-based questions that test your credit judgement. Think about how you would assess borrower financials and identify inconsistencies. Practise translating complex analysis into clear recommendations, as communication is key in this role.