Trinity Capital

Associate Director, Credit & Portfolio – Sponsor Finance

Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. We are looking for an experienced professional to join our world-class team as the Associate Director, Credit & Portfolio – Sponsor Finance team in San Diego. This is an exciting opportunity with a rapidly growing, publicly traded company, where you’ll play a key role in conducting in-depth credit risk analysis on innovative, cutting-edge companies.

Job Description

The Associate Director, Credit & Portfolio will be responsible for credit underwriting for prospective new portfolio companies. The successful candidate will have at least four years of directly applicable credit experience and will be deeply familiar with performance metrics from a wide variety of industries and business models.  This full-time position will report to the Senior Managing Director and is based on-site, at our San Diego, CA office.

Strong written and verbal communication skills are a must, as the role requires ongoing collaboration with Sponsor Finance team members and regular presentations to the Trinity Investment Committee.  This position offers the successful candidate exposure to leading private equity investors, and a wide cross-section of emerging lower middle market growth companies.

Duties and Responsibilities

  • Review initial deal information and prepare preliminary due diligence requests & revised / updated requests upon receipt of follow-on materials to address any gaps or deficiencies in information required to make a credit decision.
  • Evaluate and analyze financial data including analyzing revenue retention metrics, customer cohort analysis, customer lookback / look forward analysis, EV analysis, win-loss ratio analysis, detailed pipeline analysis, liquidity analysis, debt coverages, EBITDA adjustment support, and sales efficiency metrics.
  • Conduct independent industry analysis including assessing market size, industry growth trends, and competitive dynamics to assess strength of the Company’s investment thesis and potential risks.
  • Reconcile historical financials, prepare financial model projections and sensitivity analyses, and determine other key elements to a Company’s financial profile (gross margin profile relative to peers, corporate overhead’s ability to support growth plans, fixed vs variable cost structure, among others).
  • Conduct contract review of key contracts for customers, suppliers, and others (as applicable).
  • Actively participate in due diligence calls with Sponsors, Company management teams, consultants, and legal counsel, as well as on-site visits.
  • Synthesize due diligence information outlined above to assess the credit risk and prepare internal discussion points to aid the Sponsor Finance team in the assessment of new opportunities; assist in structuring facilities based on the Company’s risk profile including debt quantum, facility types, incurrence tests, and covenant structures.
  • Major contributor to the preparation and presentation of investment committee material, defending investment theses and risk assessments to Sponsor finance team peers and Investment Committee in a clear and concise manner
  • Participate in legal documentation of the Credit Agreement, Agreement Amongst Lenders, Amendments, and other relevant legal documents.  Actively flag non-standard terms (concepts, baskets, etc.) relative to deal size and aid in the setting and negotiating of financial covenants.
  • Lead deal closing process including pre-close reports, KYC/AML process & documentation, and coordination of funding mechanics both internally and externally.
  • Manage portfolio accounts, including general correspondence both internally and externally, preparing quarterly portfolio review reports, conducting management calls, review of compliance certificates, spreading financials, and alerting the Sponsor Finance team of any negative trends or potential issues.
  • Coordinate on-going portfolio payments with the portfolio companies and Trinity Finance & Operations team.
  • Actively participate in modifications / amendments of portfolio accounts including coordinating with borrowers, agents, co-lenders, and legal counsel, preparing and presenting approval memos.
  • Prepare syndication materials and written responses to syndication questions, as needed.
  • Actively participate in discussions / negotiations with deal participants as part of syndication processes and/or with JV partners.
  • Oversee junior staff training / development
  • Provide feedback on existing Sponsor Finance models, tools, and other templates.  Recommend improvements and actively participate in efficiency projects to increase the Sponsor Finance team’s efficiency

Characteristics

  • Analytical mindset
  • Clear and concise written and verbal communication skills
  • The ability to collaborate across functional groups
  • Ability to multitask and maintain a broad perspective along with intense focus
  • Positive attitude and strong work ethic

Experience

  • Bachelor’s degree in finance, accounting, economics, or a technical field (mathematics, physics, engineering, etc.).
  • Minimum of four (4) years of industry experience in leveraged finance and/or private equity, or minimum of six (6) years of industry experience in investment banking, VC lending, accounting, and/or consulting.
  • Advanced proficiency in Microsoft Excel and financial modeling
  • Advanced proficiency in credit analysis, specifically understanding leverage ratio, coverage metrics, liquidity, and operating metrics (e.g. sales efficiency metrics, CAC/LTV, turnover rates, etc.).
  • Mastery of financial reports: income statement, balance sheet, and cash flow
  • Strong understanding of the various aspects of business operations, e.g. sales, marketing, product development, production, etc.
  • Intermediate understanding of legal documentation & structural negotiation (key terms, covenants, and additional structural protections)
  • Proven ability to synthesize large amounts of data to develop credit views on potential borrowers
  • Proven ability to manage multiple complex transactions simultaneously under tight deadlines
  • Strong independent work ethic and the ability to work in a fast-paced environment with firm deadlines
  • Strong and confident communication skills; meticulous attention to detail

Preferred Experience

  • MBA, CFA certification
  • Formal Bank Credit Risk Training
  • Experience in distressed financing situations

Physical Requirements:

  • Ability to sit, stand, talk, utilize a computer, and read computer screens for extended periods of time
  • Maintain consistent, repetitive motion for data entry (typing/clicking)
  • Ability to lift up to 20 lbs.

Other

  • Minimal travel required

Trinity is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity, or any other characteristic protected by law.

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