Associate Asset Manager - Universities Superannuation Scheme Limited

Associate Asset Manager

Place of Work: London Contract Type: Permanent

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.

About the role

In your role as Associate Asset Manager, you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to join our Private Credit Asset Management team.

The role sits at the intersection of portfolio management, investing and credit risk, providing exposure to a broad and evolving portfolio of structured lending transactions including fund financings, NAV facilities, corporate first-out lending, asset-backed facilities and other bespoke structured credit solutions.

The successful candidate will act as an active steward of portfolio investments from initial closing through to exit or refinancing; along with the opportunity to take part in the strategy discussions.

Working alongside origination teams and senior stakeholders, the individual will play a key role in protecting and enhancing value through proactive monitoring, strategic relationship management, execution of lifecycle events and resolution of complex credit situations.

What you will be doing

As a trusted part of the Private Markets team you will be responsible for:

Portfolio Ownership and Structured Credit Monitoring

• Act as Asset Manager for a portfolio of structured credit investments across fund finance, NAV financing, corporate first-out lending and other structured credit facilities.
• Adapt monitoring frameworks based on the underwriting of each facility to assess criteria against relevant credit rating methodologies. Develop tools to tracking of relevant macro and market specific factors for each investment
• Develop a detailed understanding of each investment's structure, security package, key value drivers, risks, downside protections and expected repayment path.
• Monitor performance against underwriting assumptions, covenant packages, borrowing base requirements, reporting undertakings and other key performance indicators.
• Identify emerging risks and opportunities early, and recommend practical actions to protect capital and maximise value.
• Maintain and enhance asset management plans for each investment throughout the life of the facility.

Lifecycle Event Management

• Lead the evaluation and execution of waiver requests, amendments, extensions, refinancings and other lifecycle events.
• Assess USS's legal and commercial position with support from internal stakeholders and external advisers.
• Prepare clear recommendations and approval materials for internal governance committees.
• Negotiate directly with borrowers, sponsors, co-lenders and advisers to achieve optimal outcomes for USS.
• Work closely with investment, legal, operations, finance, risk and compliance teams to implement approved transactions.

Credit Risk

• Undertake detailed credit analysis, scenario testing and downside assessment to evaluate evolving risk profiles.
• Lead or support workstreams relating to watchlist or complex investments.
• Present strategic options, risk analysis and recommended actions to senior stakeholders and committees.

Relationship Management and Market Presence

• Develop trusted relationships with borrowers, private equity sponsors, fund managers, lending partners, servicers and advisers.
• Represent USS in lender groups, creditor discussions and governance forums.
• Maintain regular dialogue with counterparties to gain early insight into portfolio developments and market dynamics.
• Act as a credible, constructive and commercially astute institutional partner while safeguarding USS's interests.

Governance, Committees and Portfolio Oversight

• Prepare and present materials for Investment Committee, Portfolio Review Committee and other internal governance forums ensuring compliance with internal valuation and ESG reporting processes.
• Contribute to portfolio reviews, concentration analysis, risk reporting, valuation inputs and strategic asset management planning.
• Monitor sector trends, financing markets and relative value across structured credit, fund finance and private credit markets.
• Provide constructive challenge and portfolio insight to investment and asset management colleagues.

Support for New Deal Underwriting

• Partner with origination teams on new investment opportunities by providing asset management insights from the existing portfolio.
• Support diligence, structuring and execution of complex credit transactions.
• Help ensure new transactions are designed with robust monitoring, reporting, control rights and lifecycle management requirements.
• Contribute to the development of portfolio strategy, investment themes and best practice monitoring frameworks.

About you

We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.

To be successful in the role you will have:

• Significant experience in private credit, leveraged finance, structured finance, direct lending, fund finance, special situations or credit asset management.
• Strong understanding of loan documentation, covenant structures, borrowing base mechanics, intercreditor arrangements and lender protections.Experience managing lifecycle events including waivers, amendments and, refinancings