AVP/Associate, Portfolio Operations at Customers Bank in New York, New York

Job Description:

New York, NY | New York, NY
Full time | Full time
REQ-2024-390

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.

Position Title: AVP/Associate, Portfolio Operations
Salary range: The expected salary range for this position is $95,000 - $115,000. This is a good faith estimate of what we expect to pay for this position. The final salary figure will consider skill level, experience, and location.

Report to Manager: VP, Head of Portfolio Management & Investor Services

Department: FinTech

Work Location: New York, NY – Hybrid, coming into the office at least 3 days per week with Monday, Tuesday, and Thursday being set days.

Who is Customers Bank?

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.

We get you further, faster.

Focused on you: We provide every customer with a single point of contact. A dedicated team member who’s committed to meeting your needs today and tomorrow.

On the leading edge: We’re innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.

Proven reliability: We always ground our innovation in our deep experience and strong financial foundation, so we’re a partner you can trust.

What you’ll do:

We are looking for an entrepreneurial, hungry team player to join the Capital Markets division at Customers Bank. Ideally, this hire will develop into a cross-functional leader, with an eye to gain fluency in all things fintech while becoming a seasoned practitioner in structured finance. Our core competencies range across consumer credit sub-verticals including but not limited to unsecured term consumer, home improvement, and point-of-sale financing.

This role will be all things strategic portfolio operations – serving as a Swiss army knife for any problem/friction points the deal team runs into mobilizing our ~2bn allocation of the bank’s assets. The Portfolio Operations hire will be a high visibility, client-facing role, bulletproofing our asset management and investor services.

We transact in illiquid fixed income, ranging from outright whole loans to bespoke senior positions to special purpose vehicles, and the hire would help execute transactions and key initiatives relating to such assets.

Responsibilities

This seat can be broken down into below functional focus areas:

1. Day-to-Day: The role will be a unique blend of both developing and delivering best in class recurring business operations including transaction settlement via ACH or Wire, reconciliation of trade activity with external partners and internal Accounting, analytical reporting, and customer interaction.

2. Strategic: the Portfolio Operations leader will have a hand in several special projects and strategic initiatives across the various products and stakeholders – improving our services as we hit hypergrowth. We’d expect this hire to eventually design policies, procedures, and best-in-class operating models for the Portfolio Operations function.

3. Automation/Product: This seat will also focus heavily on automation in lieu of throwing people at complex, recurring problems. Folks interested in gaining exposure to product management will have the opportunity to liase with engineering, data, payments, and product personnel and implement scalable technology infrastructure for repeat operational problems the Capital Markets/Consumer Lending divisions encounter.

What to you need?

• Recent or upcoming graduates with less than two years of professional experience will not be considered for this role.
• 2-4 (Associate) or 5-7 (AVP) years of professional experience in one or multiple of the following:
  • Operating private credit lending facilities or capital markets middle office experience at a specialty lender, asset manager, or similar
  • Strategy and Operations/product operations background at a venture-backed technology firm, preferably a fintech
  • Any other applicable operations, middle/back-office, or related financial operations experience (accountants, FP&A, business/data analysts, investor services all welcome)
• Understanding of financial systems/services relating to business operations (completing/originating ACHs, wire transfers, account opening/reconciliation)
• BA or BS in Economics, Finance, Accounting, Business, or a related field and/or 3-5 years of additional equivalent professional experience. Other degrees will also be considered.
• Exceptional executor, not afraid of getting into the weeds and rolling up sleeves to make sure whatever is in their zone of ownership gets done.
• Robust communication, collaboration, and leadership skills in a team environment as well ability to engage a hybrid remote organization spanning multiple time zones and states.
• Deep enthusiasm for detail, drilling down to every helix of DNA for the assets they work with, from how promissory notes are signed to mechanics of applying late borrower payments.
• Outstanding proficiency in the following:
  • Microsoft Office Suite (particularly in Excel, PowerPoint, and Word)
  • Knowledge of relational database languages (e.g. SQL) and/or data analytics tools (e.g. Looker, Tableau, PowerBI)
  • Fundamental fixed income, valuation, and finance theory

Must be legally eligible to work in the US without sponsorship.

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

We also provide “reasonable accommodations”, upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws.

Diversity Statement:

At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let’s take on tomorrow.

Founded in 2009, Customers Bank is a super-community bank with $20.3 billion in assets at June 30, 2022. We believe in dedicated personal service for the businesses, professionals, individuals and families we work with. We offer banking and loan services across Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Texas.

Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, “Wow.”

Customers Bank, with its headquarters located in Malvern, Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding company. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.

Customer Service driven VEVRAA Federal Contractor, seeking priority referral of qualified protected veterans.
Customers Bank will provide consideration for employment to qualified applicants without regard to their race, color, religion,
national origin, sex/ gender, sexual orientation, gender identity, protected veteran status or disability.

PI241057585

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