Consultant - Securitization Capital Markets

Finance | Accounting & Internal Controls
Same job available in 3 locations

Position Summary

Deloitte’s Securitization Capital Markets Services team is solely focused on helping our clients successfully execute capital markets transactions. Our securitization professionals are engaged on performing agreed-upon procedures on new issuance securitization transactions related to Agency Mortgaged-Backed Assets (MBS), Asset-Backed Securities (ABS), Commercial Mortgage-Backed Securities (CMBS) and Residential Mortgage-Backed Securities (RMBS) structured products. Our services include asset level file review, capital structure cash flow modeling, recomputing advanced asset and bond analytics and review of relevant offering documents. We maintain a broad portfolio of clients, who issue transactions across a diverse list of asset classes including: single-family residential, multifamily, commercial, auto, equipment, single family rental, marketplace lending, timeshare, student loans, credit cards and various esoteric assets, such as cell towers, containers, railcars, solar/pace, tax liens, tobacco settlements, whole business and others. Our clients include primary broker dealers, investment banks and various loan originators/issuers in the fixed income industry.

We are looking for Consultants to join our growing and award-winning Securitization practice. We are specifically seeking professionals that will be dedicated to CMBS asset-level due diligence or ABS/RMBS cash flow modeling.

A candidate for the CMBS Consultant role would be responsible for loan file reviews, collateral stratification and offering document reviews, in addition to playing a supporting role in the execution, planning, economics and billing of each transaction. They will be responsible for directly interfacing with clients and attorneys and other professionals within Deloitte and the CMBS industry. In addition, they are expected to demonstrate a general knowledge of market trends, competitor activities and Deloitte’s products and services, in order to identify opportunities to assist with cross-selling other services.

A candidate for the ABS/RMBS Consultant cash flowing modeling role would be responsible for (i) modeling the capital structure using our proprietary cashflow modeling system, (ii) calculating the projected future cash flow payments of the assets and securities and recomputing various analytics related to the securities, including declining balance tables, weighted average lives and pre-tax yield to maturity tables at various economic scenarios and (iii) performing a thorough review of the various offering documents related to a transaction. For each proposed securitization transaction, they will be expected to directly interface with issuers, investment banks, attorneys and other professionals within Deloitte.

Essential functions of a Consultant include:

CMBS asset-level due diligence:

·       Performing loan file review procedures on pools of commercial mortgage loans and properties.

·       Maintaining and updating critical data to reflect the results of loan file review procedures.

·       Working in teams performing collateral stratification procedures timely and accurately to meet client deadlines and deliverables.

·       Interacting with clients to discuss, explain and reconcile data and offering document exceptions.

·       Generate and tie-out pool level collateral stratification tables and large loan specific tables using CAS (a licensed application) or Excel based models.

·       Reviewing the Securitization offering documents for accuracy and completeness of collateral disclosure.

·       Thinking "outside of the box" and exercising professional skepticism to detect any potential issues throughout the engagement.

·       Contribute towards building strong client relationships through interactions with client personnel.

·       Contribute to a positive team attitude.

ABS/RMBS cash flow modeling:

·       Recalculate expected asset cash flows for various product types and debt waterfalls using certain software applications (including our proprietary VBA-based cash flow modeling tool) or Excel.

·       Help develop and maintain securitization collateral and cash flow models, analyze results and provide explanations for discrepancies to ensure compliance with each transaction’s offering documents.

·       Strong document reading and reviewing skills - analyze the language and presentation of bond analytics in the relevant offering documents, such as marketing materials, Prospectus Supplements and Private Placement Memorandums; timely submitting relevant and quality comments and communicating discrepancies to attorneys and clients.

·       Develop deep understanding as a subject matter expert of specific assets types, cash flow structures and current market trends.


Qualifications:

·       Four-year college/university BS/BA

·       VBA experience

·       Exposure to computer programming languages (i.e., VBA, Python) and/or industry system platforms, such as Bloomberg, Intex or TREPP

·       1+ years of experience in financial cash flow modeling securitization transactions in Excel/ VBA

·       Proficient with Microsoft Office products (Excel, Word, Access)

·       Spreadsheet modeling skills is a plus

·       Knowledge of CMBS-related legal/offering documents and commercial mortgage loan and property source documents

·       Experience in coordinating and communicating with working party such as bankers, attorneys, collateral managers.

·       Well versed in interpretation of legal documents such as offering memorandums, offering circulars, indentures and private placement memorandums, etc.

·       Ability to working independently and multitask in fast paced environment to meet client deadlines.
Strong organizational, analytical skills, problem-solving skills and high attention to detail.

·       Highly developed written and oral communication skills.

·       MS/MBA/CPA are helpful, but not required.

·       Minimal to zero travel required (less than 10%).

·       Relevant working experience in the following areas is a plus (minimum of 1 yr experience):

·           Mortgage and asset-backed securities

·           Accounting Firms

·           Corporate Trust

·           Mortgage Banking

·           Loan Servicing

·           Fixed income investments

·           Rating Agency

Our people and culture

Our diverse, equitable, and inclusive culture empowers our people to be who they are, contribute their unique perspectives, and make a difference individually and collectively. It enables us to leverage different ideas and perspectives, and bring more creativity and innovation to help solve our client most complex challenges. This makes Deloitte one of the most rewarding places to work. Learn more about our inclusive culture.

Professional development

From entry-level employees to senior leaders, we believe there’s always room to learn. We offer opportunities to build new skills, take on leadership opportunities and connect and grow through mentorship. From on-the-job learning experiences to formal development programs, our professionals have a variety of opportunities to continue to grow throughout their career. Learn more about our commitment to developing our people.


As used in this posting, "Deloitte Advisory" means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. These entities are separate subsidiaries of Deloitte LLP.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability or protected veteran status, or any other legally protected basis, in accordance with applicable law.

Requisition code: 25782

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