Valuation Analyst/Associate
About Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $44.7 billion of assets under management as of June 30, 2023. Founded in 1998, Fortress manages assets on behalf of over 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity, and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.
About Credit
Fortress’s Credit business was launched in 2002. Today, the Fortress Credit team consists of over 525 professionals and is focused on investing globally, primarily in undervalued assets and distressed and illiquid credit investments. The investment team has a long and established track record investing throughout a number of credit and distressed cycles around the world. With over 130 professionals dedicated to asset management in 11 office locations worldwide, the Fortress Credit team also has the experience and expertise to manage and service assets with operational complexity.
About the Position
Fortress Investment Group is seeking an Analyst/Associate within its Credit Funds business. The position will be a highly visible and key role on the Valuations team, assisting in the fair value determination of public investments within the Credit Funds business.
Responsibilities:
• Assist in the daily and monthly valuation of a diverse set of investments, including but not limited to asset backed securities, bonds, middle market and broadly syndicated loans, trade claims, public equities, and derivatives.
• Coordinate the receipt of monthly valuations from pricing vendors, brokers, and asset managers
• Review quotes from brokers and pricing vendors and hold discussions with trading desk to monitor the reasonableness of quotes received. Investigate and challenge pricing variances
• Review internal valuations with asset managers to understand movements in valuations
• Assist in the on-going analysis of the publicly marked portfolio by reviewing complex financial models, key valuation assumptions and performance indicators, and tracking significant events for each asset
• Compile valuations and supporting information and prepare summary packages to be reviewed by senior management and Valuation Committee
• Liaise with our auditors by tracking documentation and providing information requests
• Assist with policy and procedure reviews across Credit regarding Valuation to ensure consistency and accuracy
• Develop strong relationships and effective lines of communication with colleagues and third parties (including Credit Funds senior management, asset management, fund accounting, auditors, and Broker Dealers)
Qualifications:
The ideal candidate will have 2-4 years of relevant experience
- Solid understanding of various financial products especially asset backed securities, bonds, and middle market and broadly syndicated loans products
- Bright, quick learner, reliable, self-motivated
- Strong personal ownership and ability to resolve issues independently
- Strong problem solving and critical thinking skills
- Process improvement orientated
- High degree of accuracy and attention to detail
- Proficiency in Microsoft Excel is a must
· Working knowledge of Bloomberg and Wall Street Office is preferred
- Alternative asset management experience or bank valuation preferred
- CFA designation a plus