Senior Associate, Asset-Based Financing

NLG Capital, the investment management company of NLG, manages approximately $40+ billion in AUM. Our purpose is simple – to allow NLG to keep its promises. How we do this – an obsessive focus on delivering investment results. We drive results through a rigorous but collaborative investment process, and we hold ourselves to the highest of standards, both as investors and teammates. While our process is based on rigor, our culture is based on our guiding principles: Meritocracy, Uncompromising Transparency, Intellectual Honesty, Performance Driven Learning, Relentless Pursuit of Excellence. These principles serve as the foundation of our team.  They govern the way we conduct ourselves, how we interact with teammates and how we approach every investment decision.  We act with the integrity and humility required to make the investment decision that is right for the firm, and ultimately our policyholders.  Our culture has been deliberately built to foster curiosity and provide opportunities to learn and grow, both as people and investors. The flat and collaborative nature of our team promotes an atmosphere where the best ideas are continually expressed and rewarded. Our pursuit of excellence is unwavering.

Role Summary

The Associate/Senior Associate, Asset Based Finance plays a key role within the growing structured credit strategy of NLG Capital. This position focuses on underwriting, structuring, modeling, executing, and monitoring privately originated asset-based finance investments across multiple collateral types, including consumer, commercial, digital infrastructure, and other esoteric asset-backed sectors.

This role supports the full investment lifecycle, from initial due diligence and underwriting through execution and ongoing portfolio surveillance. The ideal candidate brings experience in structured credit or asset-based finance, strong analytical and modeling capabilities, and a collaborative approach to evaluating investment opportunities and managing portfolio risk.

This position currently offers an onsite work schedule, with the expectation that you will be in the office four (4) days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties and Responsibilities

• Support the sourcing, underwriting, and modeling of private transactions across the asset-backed securities and loan markets.
• Review deal documentation, negotiate transaction terms, and support the structuring of forward flow agreements, warehouse financing facilities, and term securitizations.
• Coordinate with internal stakeholders, external legal counsel, rating agencies, and industry experts to develop and execute investment solutions.
• Support ongoing portfolio and market monitoring by identifying emerging risks and opportunities and recommending appropriate actions.
• Perform ongoing surveillance of existing investments and communicate asset- and market-level performance to the investment team.
• Conduct research across traditional and esoteric securitized asset classes, including collateral analysis, prepayment analysis, default modeling, and relative value assessments.
• Collaborate with team members to develop subsector and security selection recommendations for securitized investment strategies.
• Contribute to portfolio reporting, asset class insights, and trading activity analysis to support strategic investment decisions.
• Monitor credit, prepayment, liquidity, and market dynamics for risk management, valuation, cash flow forecasting, and other analytical exercises.
• Provide analytical input into the fixed income team's strategic and tactical asset allocation process.
• All other duties as assigned.

Minimum Qualifications

• Bachelor's degree in Finance, Economics, or a related quantitative field.
• Two (2) to five (5) years of relevant experience in asset-based finance, structured finance, securitized products, specialty finance, private credit, FIG, ABS banking, warehouse lending, or credit underwriting.
• Experience analyzing loan portfolios and strong financial modeling skills.
• Familiarity with transaction documentation for structured finance transactions.
• Strong analytical, communication, organizational, and interpersonal skills.
• Ability to communicate market conditions and investment concepts to technical and non-technical audiences.

Preferred Qualifications

• Advanced degree in Finance, Economics, or a related field.
• Progress toward or completion of the CFA designation.
• Experience with a bank, credit fund, structured credit asset manager, specialty finance platform, rating agency, or investment banking group focused on asset-backed finance or securitization.
• Understanding of insurance general account investing.
• Broad understanding of portfolio construction.
• Leadership or mentoring experience.
• Passion for financial markets and continuous learning.

AI Proficiency Expectations

At National Life Group, we view AI as an enabler of human potential. We use AI to help us work smarter, serve more clients, and keep our promises, while remaining a relationship-driven business where our people are our greatest strength.

All applicants are expected to:

• Leverage approved AI tools, where appropriate, to improve the efficiency, quality, and impact of their work.
• Stay curious and open to new AI-enabled ways of working.
• Exercise sound judgment by reviewing and validating AI-generated content.
• Maintain accountability for the accuracy, quality, fairness, and integrity of work products by adhering to National Life’s AI guiding principles.
• Use AI responsibly and in accordance with company policies related to confidentiality, data privacy, security, compliance, retention and intellectual property.

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!