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Credit Associate, Art Finance (Asset Based Lending)

Yieldstreet

Yieldstreet

Accounting & Finance
New York, NY, USA
Posted on Friday, November 3, 2023

Junior Credit Associate, Art Finance

About the Role

Yieldstreet’s Investment Team is looking for a Junior Investment Credit Associate to join our Art Finance vertical. You will report to the Director of Athena Art Finance and play an integral part in the growth of Yieldstreet's Art Finance asset class. Athena has originated ~$700M in art loans and 8 Diversified Art Debt Offerings, making it a leading independent art finance company. Athena is also the manager of Yieldstreet’s Art Equity Funds. You will be responsible for preparing all matters related to existing and new deal execution of the full credit underwriting process for our Senior Underwriters, including preparation of credit committee memoranda, development of investor facing materials, and final closing coordination, while working collaboratively with several internal and external stakeholders. The ideal candidate will have a passion for art and for Yieldstreet’s mission to provide access to alternative investments and want to utilize your expertise to change the way wealth is created and help millions on their path to financial independence.

This is a full-time position for an employee based in New York, qualified to work in the U.S.

What You'll Do:

  • Conduct financial due diligence, including analysis of loan structure and creditworthiness
  • Prepare engagement letters, review loan documents to ensure alignment with term sheet and that all protections are fully captured
  • Coordinate loan fundings, prepare closing statements and monitor the loan portfolio to ensure compliance with all covenants in credit facilities
  • Assist with preparation, coordination and completion of credit memos and submissions to the Investment Committee and Offering materials for Yieldstreet Art Debt and Equity offerings
  • Liaise with Product Marketing, Transaction Management, Portfolio Management, Legal, Finance, Accounting and FinOps teams
  • Support Athena’s accounting, treasury function, expense, and AP management by reviewing and monitoring monthly borrower invoices, ensure fees are correctly invoiced and allocated
  • Coordinate due diligence requests related to year-end banks audits, field exams, bank financings and third-party RFPs
  • Prepare financial models, measure portfolio and financial performance for art funds, including forecasting tools, stress-testing, etc.
  • Help to execute financing transactions, including warehouse facilities, securitizations, and other financing activities

What You’ll Need:

  • Bachelor’s Degree
  • 3-5 years of transactional based credit underwriting experience
  • Experience in financial statement analysis, financial modeling or financial valuation; preparing financial information, interpreting financial performance and assessing risk exposure
  • Ability to explain and present financial concepts and complex information concisely in both verbal and written forms
  • Must be an effective and proactive problem-solver; able to analyze situations thoroughly and to anticipate problems before they arise
  • Excellent organizational skills and high attention to detail
  • Deal Execution mindset
  • Proficiency in Microsoft Office, including Word, Excel and PowerPoint
  • Ability to work seamlessly in a cross-functional team environment spanning multiple disciplines
  • Ability to thrive in an ambiguous and fast paced startup environment
  • Ability to think analytically, build narrative, and synthesize quantitative and qualitative findings; use data to make business decisions
  • Able to work legally within the United States
  • This role will be based out of the NYC office and requires someone to be in the office 3 days/week
  • Bonus points for Art Finance experience

About Yieldstreet

Yieldstreet is the leading private market investment platform. We believe that private market alternatives should be a fundamental part of your portfolio. That’s why we’re unlocking access to make it easier than ever to get started. We partner with top-tier investment managers to provide investors with a wide range of opportunities across real estate, venture capital, private equity, art, short term notes and more. All of our offerings are curated and vetted by our team to help investors diversify away from the stock market with confidence.

Why Yieldstreet?

Join a team of diverse, smart, and friendly people from 8 different countries who speak a total of 17 different languages who are on a mission to make alternative investments a fundamental part of the modern portfolio. Our team is comprised of successful entrepreneurs with combined exits of over $1B. We get social with each other during happy hours, exercise classes and team off sites! We are a hybrid work company giving you the opportunity to connect with your peers in real time with the flexibility to work remotely a few days per week.

What’s in it for you: (US only)

Competitive compensation packages including equity

Health, dental & vision coverage with FSA/HSA options

Unlimited PTO

401k Match

Learning and Development stipend

Wellness credit

Paid lunch once a week

Commuter benefit

Life insurance

Sabbatical

Summer FridaysHIRING SALARY RANGE: $120,000 + (Actual salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.) Compensation package also includes equity.