Principal, Risk Manager - Residential Real Estate

Position OverviewAn indirect wholly-owned subsidiary of Apollo Management Holdings, AASP manages the securitized products and structured finance assets sourced and serviced by ATLAS SP Partners while serving as their sole Risk Manager.ATLAS SP's lending business provides financing across three business segments: Residential Real EstateCommercial Real EstateConsumer & Commercial (C&C)The RoleAASP is seeking a Principal for their growing Credit Risk Management team to be the lead Risk Manager for the Residential Mortgage Warehouse Portfolio. The Principal will be responsible for conducting both asset level and counterparty level credit reviews and for the continuous review and monitoring of residential mortgage finance exposures in the portfolio. Reporting to the AASP Chief Risk Officer, the Principal will work closely with Apollo credit professionals, the ATLAS SP Origination teams and other risk leaders within AASP as well as with clients and ATLAS SP key partners. The AASP CRO will rely on this senior risk officer to conduct complete analysis on transactions, highlight risk concerns early and ongoing, challenge the deal teams, gain the expertise in asset classes he/she may not have it in from people who do (utilizing the ecosystem of partners available to ATLAS SP), form an independent risk view, and write a succinct risk memo/analysis. This individual will be a self-sufficient Risk Manager, handling transactions in a strong and independent way; this includes delivering an informed view to the AASP CRO and other Apollo risk seniors. This candidate will act as an important control function, protecting capital and assessing downside risks.The ideal candidate will have experience as a Credit Risk Officer in a decision-making role for mortgage and asset-backed financing transactions and is comfortable challenging the status quo and establishing guardrails the business can operate in. Product expertise is required for this role. Residential mortgage collateral includes but is not limited to agency, non-qualified mortgages, business purpose (or investor) loans, single family rental, HELOC and closed end seconds, mortgage servicing rights and servicer advances. The individual will review and assess new and existing transactions (warehouse facilities), facility amendments and renewal requests and monitor the on-going credit quality of the portfolio. Primary ResponsibilitiesUnderwrite risk in each transaction, including evaluating the financing structures, asset risk, the risk profile of the originators and servicers, stress testing and analytics as well as gathering market intelligenceAccountable for independently making critical risk decisions and acting like an investor to approve transactions within a delegated level of authorityDemonstrate an ability to challenge the business (sales/portfolio/structuring teams), substantiate support or dissent for a deal and where there is dissent, work with the deal team on structural improvements which might move a transaction from "no" to "maybe/yes"Participate in the deal underwriting process from inception and be involved over the lifecycle of a transaction, with greater involvement should asset classes be underperforming, higher risk, less liquid, more esoteric, etc. Work with Legal and the deal teams on the loan agreements to ensure that documents accurately reflect the deal structure, economic terms and asset waterfallsWork closely with other control function partners including i) Legal and Compliance to escalate and review any reputational or franchise risk considerations and ii) Treasury to evaluate any liability or liquidity considerations.Present risk concerns and due diligence findings, make a risk recommendation and answer questions of Investment Committee members or other senior stakeholdersProduce documentation which includes thorough market, borrower and collateral analysis to support recommendation. This would include but not be limited to understanding and sensitizing stress testing analysis provided by the business and/or obtaining other market intelligence to support risk conclusions and considerationsQualifications & ExperienceStrong subject matter knowledge of multiple asset classes in the residential sectorExposure to more bespoke or less liquid asset classes (venture debt, SME lending, fund finance) is highly beneficial Prior experience and responsibility for critical decisions of significant financial impact and complex criteria is a main requirementExperience underwriting Corporates from a fundamental credit perspectiveExperience reviewing loan agreementsAbility to roll-up sleeves and work alongside 1LOD to underwrite highly structured warehouse (loan) facilitiesStrong foundation in risk while also very solution-oriented with a thorough understanding of the commercial needs of a business, especially one in a growth stage, but know how to balance that with risk discipline and controlStrong analytical skills, multi-asset class experience, and an ability to build risk management tools to aid in governing the risk in the portfolioExtensive financial analysis and modelling skills, expertise in credit risk management, and strong understanding of risk metrics/models/systemsUnderstanding of fundamental credit skills, ideally having spent time in a large bank or financial institution with structured credit training programsExceptional attention to detail Must have exceptional communication skills, both written and verbal and be comfortable presenting prospective deals to investment committee(s)Must be able to communicate complex risk-related concepts to both internal and external partiesAbility to incorporate and understand information from variety of sources to stay ahead of market/economic trends and evaluate the impact on the portfolioAbout ApolloApollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes.About AASP Management, LP (AASP)AASP is an indirect wholly-owned subsidiary of Apollo Management Holdings, LP. Currently, AASP manages asset-backed warehouse facilities and other securitized products and structured finance assets. Such assets are primarily sourced and serviced by ATLAS SP Partners. Additionally, AASP serves as the sole Risk Manager for ATLAS SP Partners, which is described in detail below.About ATLAS SPATLAS SP Partners is a global investment firm that seeks to provide stable funding and capital markets services to companies seeking innovative and bespoke structured credit and asset backed finance solutions. ATLAS SP is proud to build upon a legacy of excellence anchored in deep expertise and client service across the asset management landscape.Their expert team and integrated platform help determine the best approach to optimize clients' capital structures and achieve their goals working across a broad range of services within principal investing, financing, capital markets and portfolio solutions.ATLAS SP's integrated platform encompasses a holistic suite of capabilities, including asset/portfolio advisory solutions, warehouse/acquisition financing solutions, whole loan purchase/sale and securitization/distribution.ATLAS SP works with specialty finance companies, REITs, financial sponsors, mortgage lenders, corporates and others to unlock value from their existing asset base, accessing capital that goes beyond traditional unsecured debt and equity. They specialize in advising clients on how to reach their strategic goals, from providing early-stage asset backed capital, constructing flexible aggregation warehouse facilities, establishing securitization programs to accessing bridge capital and acquisition financing solutions.The Company works with clients throughout all stages of the growth lifecycle - from early stage private to mature public companies - to access flexible capital through a variety of structures and capabilities, including asset/portfolio advisory, warehouse/acquisition financing solutions, whole loan purchase/sale and securitization/distribution.ATLAS SP was created out of Credit Suisse's Securitized Products Group, a top provider of credit solutions to lenders. Now as a standalone securitized credit origination platform, ATLAS SP continues to benefit from the team's leadership, experience and operational strength to serve client needs across the full ABS financing spectrum.ATLAS SP is backed by a diverse set of institutional capital partners, including affiliates of Apollo, and other third-party financial institutions. These relationships can provide ATLAS SP with investment-grade capital partners and strategic benefits designed to enhance its financial and operational strength and to accelerate growth in client offerings.Our Purpose & Core ValuesOur clients rely on our investment acumen to help secure their future. We must never lose our focus and determination to be the best investors and most trusted partners on their behalf. We strive to be:The leading provider of retirement income solutions to institutions, companies, and individuals.The leading provider of capital solutions to companies. Our breadth and scale enable us to deliver capital for even the largest projects - and our small firm mindset ensures we will be a thoughtful and dedicated partner to these organizations. We are committed to helping them build stronger businesses.A leading contributor to addressing some of the biggest issues facing the world today - such as energy transition, accelerating the adoption of new technologies, and social impact - where innovative approaches to investing can make a positive difference.We are building a unique firm of extraordinary colleagues who:Outperform expectationsChallenge ConventionChampion OpportunityLead responsiblyDrive collaborationAs One Apollo team, we believe that doing great work and having fun go hand in hand, and we are proud of what we can achieve together.Our BenefitsApollo relies on its people to keep it a leader in alternative investment management, and the firm's benefit programs are crafted to offer meaningful coverage for both you and your family. Please reach out to your Human Capital Business Partner for more detailed information on specific benefits.Apollo Global Management, Inc. (together with its subsidiaries and affiliates) is an equal opportunity/affirmative action employer. The firm and its affiliates do not discriminate in employment because of race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression or because of any other criteria prohibited under controlling federal, state or local lawPay Range300,000The base salary range for this position is listed above. This position is also eligible for a discretionary annual bonus based on personal, team, and Firm performance. Compensation ranges are based on several factors including job function, level, and geographic location. Final offer amounts are determined by multiple factors including candidate experience and expertise, and may vary from the amounts listed here.SummaryLocation: New York City 11 Madison AvenueType: Full time