Valuations - Senior Analyst / Associate

Arena Investors, LP is a global investment management firm that seeks to generate attractive risk adjusted, consistent and uncorrelated returns by employing a fundamentals based, asset-oriented financing and investing strategy across the entire credit spectrum in areas where conventional sources of capital are scarce.  Arena specializes in off-the-run, stressed, distressed, illiquid and esoteric special situation transactions through originations and acquisitions of asset-oriented investments across a wide array of asset types (including but not limited to private direct corporate credit, commercial real estate bridge lending, and commercial and consumer assets).

Quaestor Advisors (“Quaestor”), is an affiliated Special Servicer, which provides mid and back-office services, including asset management, to Arena Investors and external clients.

Quaestor is looking to expand the Valuations team, through the addition of a Valuations Senior Analyst / Associate.  This is a technically demanding, senior individual contributor role with team leadership responsibility. In this role, the successful candidate will work under the EVP of Valuations. 

Responsibilities:

• Complex Financial Instrument Valuations

–     Lead and own fair value engagements for a broad range of financial instruments, including:

◦     Exotic/structured derivatives (options, or option-linked instruments)

◦     Fixed income: corporate bonds, leveraged loans, and distressed/illiquid debt

◦     Equity-linked and hybrid instruments: convertible bonds, warrants, and preferred equity with complex features

◦     Options and contingent claims across public and private underlying assets

–     Build, maintain, and critically review valuation models - including DCF, binomial lattice, Monte Carlo simulation, Black-Scholes and its extensions, and reduced-form/structural credit models

–     Select and justify appropriate methodologies given instrument complexity, liquidity, observability of inputs, and applicable accounting guidance

–     Calibrate models to market data and perform robust sensitivity and scenario analysis

–     Source and analyze market data inputs including yield curves, credit spreads, implied volatilities, and prepayment assumptions

• Accounting Standards & Financial Reporting Support

–     Apply and interpret relevant US GAAP accounting standards as they govern fair value measurement and financial instrument reporting, including:

◦     ASC 820 (Fair Value Measurement): Level 1/2/3 hierarchy, principal market, highest-and-best-use, unit of account, and Day 1 P&L considerations

◦     ASC 946 (Investment Companies): NAV-basis reporting, fair value for fund portfolios, and related disclosure requirements

◦     ASC 825 (Financial Instruments): fair value option elections and related disclosure

–     Partner with external auditors and fund administrators on fair value sign-offs, Level 3 roll-forwards, and valuation committee presentations

–     Prepare and review technical memoranda documenting valuation conclusions, methodology rationale, and accounting treatment linkages

–     Assist portfolio companies or clients in designing and implementing valuation policies consistent with applicable standards

• Team & Engagement Leadership

–     Lead engagement workflow end-to-end: scoping, timeline management, model review, quality control, and final deliverable

–     Mentor and review the work of junior Analysts and Associates on the Valuations team

–     Act as a primary point of contact for internal portfolio teams and external clients on instrument-level valuation questions

–     Communicate valuation conclusions clearly to non-technical stakeholders including CFOs, controllers, and audit committees

Requirements

• Bachelor’s degree in Finance, Applied Mathematics, or other quantitative finance major, or Economics with a strong interest in pursuing professional designation; Master’s degree is a plus.
• Experience with valuing and reviewing debt and complex financial instruments/derivatives (swaps, contingent consideration, convertible debt, etc.) and related methodologies/ models/ software (Monte Carlo simulation, Binomial Models, Thomson Reuters or Bloomberg).
• 3-5 years valuation experience with a Big 4 or Top 20 public accounting and advisory firm.
• Demonstrated experience in both performing valuations and reviewing common stock, debt and derivative valuations, etc.
• Experience working with Capital IQ.
• Highly Proficient in Microsoft Office, especially Excel and Word
• Good understanding of the accounting standards related to financial instruments and valuations is a plus.
• Ability to work on multiple engagements simultaneously with competing priorities in a rapidly growing, fast-paced, interactive, results-based environment
• Excellent written, interpersonal, and presentation skills
• Python programming/coding is a plus
• Individuals on the path to obtaining the CFA qualification is a plus.

This job description is not an exhaustive list of all responsibilities, and duties may change

Benefits

• Health Care Plan (Medical, Dental & Vision)
• Retirement Plan (401k, IRA)
• Life Insurance (Basic, Voluntary & AD&D)
• Paid Time Off (Vacation, Sick & Public Holidays)
• Family Leave (Maternity, Paternity)
• Short Term & Long Term Disability
• Training & Development
• Free Food & Snacks
• Wellness Resources