Infrastructure Originator

Rothesay is the UK’s largest pensions insurance specialist, purpose-built to protect pension schemes and their members’ pensions. With over £74 billion of assets under management, we secure the pensions of nearly one million people and pay out, on average, approximately £355 million in pension payments each month.

Rothesay is dedicated to providing excellence in customer service alongside prudent underwriting, a conservative investment strategy and the careful management of risk. We are trusted by the pension schemes of some of the UK’s best known companies to provide pension solutions, including British Airways, Cadbury’s, the Civil Aviation Authority, the Co-Operative Group, National Grid, NatWest, Morrisons and Telent.

Rothesay Asset Management North America (“RAM-NA”) is headquartered in NYC and focuses on sourcing long-dated fixed income assets in North America. Since being established in 2018, it has originated over $12.5bn of high-quality investments for the UK balance sheet.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigor. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

In general, we are looking for a smart, commercial individual with an excellent academic record, strong quantitative and problem-solving abilities and a high degree of adaptability, with a genuine intellectual appetite to expand their existing skillset.

Job title : Infrastructure Originator

Reports to : Head of Infrastructure RAM-NA

Location : New York, NY

Type of position : Permanent

RESPONSIBILITIES

Deal Origination & Evaluation

- Contribute to the sourcing of infrastructure debt opportunities in North America by leveraging Rothesay’s and own relationship networks in the infrastructure market, including sponsors, advisors, banks, broker dealers, asset managers and consultants.

- Support such networks by promoting Rothesay’s profile in industry gatherings and conferences with relevant external counterparties and market participants

- Conduct detailed due diligence, credit analysis and underwriting of infrastructure lending opportunities including identification and assessment of risks, market underwriting and scenario analysis

- Promote a culture of collaboration among the different teams within Rothesay to foster robust relative value discussions to generate optimal risk-adjusted returns for the overall portfolio

- Contribute to the preparation of complex dynamic financial models to analyze investment opportunities, test assumptions and run sensitivities

- Analyze and contribute to the definition of debt structures and covenant packages appropriate for every transaction, with appropriate pricing supported by relative value analysis

Deal Execution & Ongoing Management

- Manage all aspects of the execution of infrastructure transactions, including underwriting, due diligence, structuring, management of the investment committee process, legal documentation, and asset management

- Review and provide input to any commercial aspects of the transaction agreement. Work with counsel to ensure that the transaction documents reflect commercially agreed position

- Review due diligence materials and robustly challenge assumptions and conclusions to ensure that the due diligence process has been thoroughly completed and potential risks identified

- Coordinate the preparation and the presentation to the appropriate committee of detailed investment committee papers, which concisely present the opportunity, clearly identify and assess the risks of the deal and any other material due diligence findings, and present appropriate external and internal metrics for consideration

- Demonstrate strong commercial judgment and project management skills for the management of internal parties involved in the deal execution process, as well as 3rd party advisors and borrowers

- Contribute to the ongoing oversight of portfolio investments originated, including participating in the definition of the strategy and negotiations related to amendments, waivers, restructurings, and other credit events with transactions in the portfolio

QUALIFICATIONS

Experience

- Bachelor’s or equivalent degree from a leading university in a relevant highly quantitative degree such as mathematics, economics, finance, or related scientific area.

- 5+ years of experience in infrastructure banking or investment, including sourcing, structuring, execution, and management of complex transactions, with a demonstrated track record of sourcing and executing infrastructure debt investments in North America

- Established relationships with relevant infrastructure sponsors, advisors, banks, broker dealers, asset managers and consultants.

- Experience with investment-grade and below investment-grade lending, preferably both in bank loan and bond/note formats, including advanced modeling and due diligence skills

- Strong credit judgment, financial analysis skills, and ability to balance risk and return. Experience in debt or hard assets with non-performing loans/workout experience to be valued additionally

Competencies

- Technical skills - Strong technical and analytical skills, including a very strong hands-on grasp of MS Excel, with a particular focus on cashflow modeling, risk analysis and creative problem solving. Attention to detail, and initiative to continually broaden their knowledge

- Drive and motivation – A self-starter, with the ability to successfully handle multiple tasks, taking initiative to improve their own performance, working intensely under time pressure towards challenging goals and persisting in the face of obstacles or setbacks

- Commercial awareness – Ability to see the big picture alongside the quantitative analysis, with an effective and pragmatic analysis of complex issues

- Judgment and problem solving - Thinking ahead to identify clear objectives, with anticipation of questions, planning for contingencies, and seeking alternative solutions

- Teamwork – Evidence of being a strong team player, who collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions

- Communication skills – Excellent written and verbal communication skills and ability to present complex investment views clearly and collaborate effectively across the organization

- Creativity and innovation – Willingness to look for new ways to improve current approaches and develop creative solutions that are grounded in reality and have practical value

- Influence over outcomes – Ability to present sound, persuasive rationale for ideas and recommendations, engaging with others in collaborative discussion seeking maximization of value for the organization

Must be legally authorized to work in the United States. This position is not eligible for visa sponsorship.

Disclaimer : This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of duties. The role shall be performed within a professional office environment.

Rothesay is an equal opportunity employer. All employment decisions — including recruiting, hiring, placement, promotion, compensation, training, and termination — are made without regard to race, color, national origin, ancestry, religion or creed, sex (including pregnancy, childbirth, and related medical conditions), sexual orientation, gender, gender identity or expression, age, physical or mental disability, marital or partnership status, genetic information (including predisposing genetic characteristics), citizenship or immigration status (subject to applicable work-authorization requirements), uniformed service or veteran status, or any other characteristic protected by applicable federal, state, or local law.

Rothesay is committed to providing reasonable accommodations to qualified individuals with disabilities and for sincerely held religious beliefs and practices, both in the application and interview process and in employment.