Associate, Portfolio Valuation and Fund Advisory (Structured Products) - London

Business Unit: Financial And Valuation Advisory

Industry: Portfolio Valuation

Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank recognised for delivering independent strategic and financial advice to corporations, financial sponsors, and governments. With uniquely deep industry expertise, broad international reach, and a partnership approach rooted in trust, the firm provides innovative, integrated solutions across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory.

Over the past 50+ years, Houlihan Lokey has established one of the largest worldwide financial and valuation advisory practices. Our transaction expertise and leadership in the field of valuation inspire confidence in the financial executives, boards of directors, special committees, investors, and business owners we serve. Our stability, integrity, technical leadership, and global capabilities make us a trusted advisor for clients worldwide, across a wide range of services, including Transaction Opinions, Transaction Advisory Services, Corporate Valuation Advisory Services, Portfolio Valuation and Fund Advisory Services, Real Estate Valuation and Advisory Services, and Dispute Resolution Consulting practices.

Drawing on our extensive experience analysing, structuring, securitising, underwriting, investing in, and trading whole loans and structured credit instruments, our professionals employ thorough analytical methods and powerful proprietary modelling techniques. Our valuation process incorporates robust market data to provide clients with superior valuation and advisory services that reflect current market developments for all structured products.

Responsibilities

• Analyzing and valuing various structured products, asset-backed loans, loan pools and other illiquid securities
• Determining relevant valuation assumptions based on historical performance, collateral type, and economic scenarios
• Utilising a discounted cash flows framework to derive value indications at appropriate market discount margins / yields
• Performing market research; calibrating proprietary valuation models to incorporate market-based assumptions
• Reviewing and compiling published financial information, such as industry research reports, remittance data, and market data across a wide range of asset classes
• Assisting in the preparation of client deliverables including valuation reports, pitch materials and information requests
• Participating in due diligence meetings/discussions and assisting in responding to auditor questions regarding valuation analyses prepared by Houlihan Lokey
• Participating in presenting valuation analyses and conclusions internally to review committees, externally to our clients’ senior management and boards of directors, and to fiduciaries
• Performing quantitative and qualitative assessments on distribution reports, financial statements, and other sources of information, as required
• Researching and providing initial draft on (a) general economic conditions, (b) industry-specific conditions and trends, and (c) various investment attributes of illiquid securities
• Assisting with sales and marketing initiatives for prospective and existing clients
• Performing other ad-hoc research, analytics, and support for the FVA project teams as required

Qualifications

The environment at Houlihan Lokey is collegial and entrepreneurial and, as such, rewards staff with substantial responsibility and interaction with senior-level professionals and clients. The ideal candidate thinks strategically, is motivated, detail oriented, creative, outgoing, possesses strong quantitative skills and exhibits exceptional work ethic. The Associate will primarily support Structured Products valuation professionals in the Portfolio Valuation & Advisory Services practice and will gain broad exposure to a wide range of assets.

• Associate candidates should have 3-5+ years of work experience
• Bachelor’s or Master’s degree in finance, accounting, business, applied mathematics, statistics, engineering, or equivalent quantitative field
• A fundamental understanding of financial valuation theory, methodologies, and applications
• Knowledge of various structured products including, but not limited to, Residential and Commercial Mortgage Securities (RMBS and CMBS), Asset-Backed Securities (ABS), and Collateralized Loan Obligations (CLO)
• Understanding of basic probability and statistical concepts
• Strong analytical abilities including demonstrated ability to model discounted cash flows
• Strong problem solving skills and the ability to work through complex financial models to determine the key assumptions, implicit caveats and limitations
• Strong knowledge of Excel
• Excellent verbal and written communication skills; ability to prepare reports and presentations to team and clients, including graphic and written sections
• Demonstrated ability to work cooperatively with team members
• Ability to work independently in a fast paced environment
• An exceptional work ethic and attention to detail
• Ability to manage multiple projects and interact with clients and internal management
• Flexibility to travel to client site for due diligence meetings as required

Desirable Qualifications

• Knowledge of multiple valuation techniques
• Knowledge of and experience with statistical packages and data sources such as Intex and Bloomberg
• Python/VBA skillset