Associate, Underwriting

Cadma Capital Partners seeks an Associate of Underwriting to join a high growth credit platform focused on the innovation economy. As an affiliate of Apollo Global Management, Cadma provides unique financing solutions for the venture and growth ecosystem, partnering with venture debt firms, fintech credit firms, venture capital firms, expansion-stage companies, bank lenders, GPs, LPs, and other constituents across the innovation ecosystem. Our tight-knit, well positioned origination platform is seeking a team-oriented self-starter with impeccable analytic skills who is polished and efficient when communicating at all levels, internally and externally, and with a deep passion for venture, technology, and financial innovation.

Primary Responsibilities

• Work alongside senior leadership to support credit underwriting and risk monitoring efforts
• Analyze individual credit assets, identifying business strengths and weaknesses, collateral, sector and regulatory risks, loan structure including performance triggers and covenant strength, return profile, and identify other core risk factors
• Build and maintain complex financial models to support new asset origination, analyzing financial performance, cash flow projections, collateral evaluation, scenario analysis, stress testing, and returns
• Prepare detailed investment memos, reports and presentations summarizing financial analysis and structuring recommendations
• Support proactive portfolio and risk management, including monitoring asset financial performance, compliance, and risk assessment and ongoing communication with external partners and stakeholders.

Qualifications & Experience

• 3-5 years in an underwriting role at a bank or credit fund
• Direct lending experience to VC/PE backed businesses, providing term debt, ABL working capital, and/or leveraged buyouts (CF and Debt/ARR)
• Experience underwriting borrower profiles that range from Series A to growth-stage businesses
• Expertise in preparing credit investment memorandums and identifying credit/financial/fundraising risks across company life stages and financing structures
• Experience in client and sponsor interaction/management, quarterly portfolio reviews, new credit extensions, credit renewals, covenant restructures, and troubled debt restructures
• Credit analysis and financial modelling expertise for all three financial statements, including working capital analysis and projections modelling across a variety of debt instruments (growth term loan, ABL)
• Ability to present and defend enterprise value analysis through KPIs and benchmarking against peers/competition.
• Proficiency in Microsoft suite of products (Excel, PowerPoint, Word)
• Strong project management, writing and presentation skills and excellent interpersonal skills
• Strong team player with an entrepreneurial predisposition
• Self-starter with a strong work ethic and genuine willingness and desire to learn
• Desire to work in a small financial services startup environment, with opportunity to work in alliance with broader Apollo ecosystem