Alternative Operations Specialist/Manager
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.2 trillion in assets for clients around the world. PIMCO has over 3,070 employees in 22 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description:
We are seeking an Alternative Operations Specialist/Manager to join our global team of professionals located in Newport Beach, CA, London, and New York, NY. This team supports PIMCO's Alternatives business, which includes complex hedge funds and private equity vehicles.
You will engage key partners, including Portfolio Management, Legal, Compliance, Finance, and external service providers to ensure timely settlements and maintenance of debt and private equity asset classes. You will also support various portfolio managers with deal facilitation, settlement, income accounting and collection, cash wire controls, physical security registration, restructuring, and other operational functions.
The role is based in New York, NY or Austin, TX. Relocation assistance will be provided.
- Support PIMCO's private debt portfolio managers with settlement oversight and life cycle management on private/originated loan transactions
- Provide necessary oversight and serve as an escalation point to outsourced provider performing back office related functions (settlements, asset setup, waterfall calculations, P&I processing, etc.)
- Educate service providers and internal partners on deal mechanics and structuring
- Assist with complex loan amendments and restructurings
- Manage cross-functional projects to improve specific processes
- Work with the Alternatives Finance team on fund development and deal closings
- Develop accurate controls and oversight for the private loan investments across PIMCO
- Assist with the operational aspects of bespoke loan financings
- Operational support across private and direct originated debt, including: term loan, revolver and delayed draw loans
- Knowledge of loan settlement process, including complex deal structures and control/pledge agreements
- Understanding of loan set up, interest calculations, amendments, restructuring and loan agency
- Management of fund level and asset based financings such as loan TRS, bespoke facility agreements
- Ability to work in fast paced environment is a must
- Experience with private equity fund frameworks from booking and settlement through accounting and maintenance of deals post settlement
- Custody and accounting service provider relationship management for supported products
- Understanding of private equity legal entity structures a plus
- Understanding of accounting impacts when recording lifecycle events such as P&I, expenses, and capital contributions/distributions
- Minimum of a Bachelor's Degree
- Minimum 5-8 years of Operations experience supporting debt-related products
- Private loan experience required, including waterfall calculations, bespoke loan financings, bespoke facility agreement, private equity fund framework, etc.
- Good understanding of loan based products, ideally term loans, revolvers, delayed draw, and private originated debt
- Ability to pull out key terms from credit facility documentation and explain deal structuring
- Solid understanding of fund accounting across complex asset classes
- Proven experience with loan restructuring and physical registration
- Excellent written and verbal communication skills, suitable for client meetings
- Consistent track record managing complex securities and processing tasks, particularly with financing instruments and strategies
- Good working knowledge of Excel, and Bloomberg essential
- Understanding of SQL and database query tools desirable
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
- Medical, dental, and vision coverage
- Life insurance and travel coverage
- 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
- Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
- Community involvement opportunities with The PIMCO Foundation in each PIMCO office