Waterfall Asset Management

Company Information

Waterfall Asset Management, LLC is an SEC-registered alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity. Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking, and servicing experience. Waterfall seeks to provide its client a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is headquartered in New York, with additional offices in London, and Dublin. As of December 1, 2025, Waterfall approximately $12.4 billion in assets under management.

Job Description

Waterfall is looking to hire an Analyst into the Trade Management Group led by the Deputy COO/COO. The purpose of this team is to support the daily operations of each trading desk, manage trades throughout their lifecycles, act as the conduit between the front and back office in all respects, and prepare performance reporting/analytics. This role requires working with groups throughout the firm.

Specific job responsibilities include:

• Support daily operations of ABS desk which entails investment allocations, compliance monitoring, security setups, post trade reporting, and having frequent trading and repo desk communication leveraging our OMS, Bloomberg AIM
• Assess potential opportunities for operational complexities by attending investment committee and firm strategy meetings
• Assist in optimizing entity structuring and ensure trades are allocated in accordance with policy and latest PM directives
• Review complex deal documents for privates, setup new securities and maintain them throughout trade life cycle
• Book and monitor all asset-level investment activity in the portfolio management/accounting system, Advent Geneva
• Troubleshoot any cash breaks and process security updates for interest shortfalls, revised remittances and more
• Manage asset-based leverage with lenders and coordinate activity required to operate our business and meet leverage objectives
• Coordinate weekly pipeline meetings with investment staff to review new deals and project activity on existing arrangements
• Work with AI, IT and third party outsource on automation and delegation to reduce manual work and create leverage for the team
• Prepare monthly and ad hoc reporting for the investment staff which includes returns, trading activity and holdings/analytics
• Liaise with IT & investment teams to manage interactive dashboards to assist in portfolio management
• Conduct regular meetings with investment staff to discuss monthly reporting prepared and operational initiatives
• Provide deal expertise to collective back-office and sign-off on deal level P&L for the purposes of return estimates and NAV closes
• Assist portfolio managers, investor relations and senior management with frequent ad hoc analyses and requests

Qualifications and Education Requirements

• BA/BS degree required, preferably in Finance
• 2-4 years of experience in middle office/operations roles, preferably with time at a buy-side institution
• Knowledge of fixed income products and related derivatives, specifically ABS, Corporates, Repo, IRS, CMBX, CDX, TBAs
• High degree of proficiency in Microsoft Excel is required, experience with AI is a plus
• Highly organized with exceptional attention to detail
• Process-improvement oriented with ability to collaborate with IT to drive business initiatives
• Excellent communication and teamwork skills
• Experience with Bloomberg is preferred, TradeWeb/Advent Geneva experience a plus