Position: Restructuring Associate, Investment Banking
Location: New York, NY or Red Bank, NJ
Company Description
B. Riley Securities provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and recapitalization. B. Riley is nationally recognized and highly ranked for its proprietary small-cap equity research.
Position Overview
We are seeking a full-time Associate to join our Restructuring group in New York or Red Bank, NJ, reporting to the Head of Restructuring. The group advises companies, boards, creditors, sponsors and investors on in-court and out-of-court restructurings, recapitalizations, distressed M&A, rescue financings and strategic alternatives. The Associate will own analytical workstreams, manage analysts, and work directly with clients, creditor groups, counsel and other advisors from mandate through resolution. Our lean deal teams give Associates early, substantial responsibility, including leading models and materials, participating in negotiations, and presenting to management teams and boards. We welcome candidates from restructuring investment banking groups and from restructuring advisory and turnaround firms. The base salary range for this position is $ 160,000 to $180,000, and the position is eligible for quarterly bonuses.
Key Responsibilities
- Build and manage complex financial models, including cash flow and liquidity budgets , recovery and waterfall analyses, debt capacity builds, and other detailed valuation models.
- Analyze capital structures, credit agreements, indentures, covenants and stakeholder positions.
- Evaluate strategic alternatives for debtors, creditors, sponsors and investors, including liability management, distressed M&A, 363 sales, DIP and rescue financings.
- Coordinate due diligence and execution with clients, counsel, lenders, investors and other transaction advisors.
- Prepare restructuring presentations, creditor and board materials, CIMs, teasers and other transaction documents.
- Support court-related work, including first day and other declarations, valuation reports, liquidation and plan feasibility analyses supporting disclosure statements, and expert testimony preparation.
- Communicate deal dynamics clearly to clients and deal team members, including senior bankers and management to keep relevant parties informed of timelines and priorities.
- Staff, review and train analysts, and ensure zero-defect work product across the team.
- Support pitches and new business development, and partner with other B. Riley businesses on client solutions.
- Participate in recruiting, training and mentoring.
Qualifications
- 2 to 5 years of experience in a restructuring, special situations or liability management investment banking group, or at a restructuring advisory or turnaround consulting firm.
- Direct experience with in-court and/or out-of-court restructurings, distressed M&A, recapitalizations or liability management transactions.
- Familiarity with the Chapter 11 process and case reporting (e.g., MORs, SOFAs, DIP budgets and budget-to-actual reporting) a plus.
- Advanced financial modeling and valuation skills, with fluency in credit documents, capital structures and recovery analysis.
- Experience supervising and reviewing junior work.
- Exceptional verbal and written communication skills.
- Ability to multitask, prioritize and perform under pressure in a fast-paced, entrepreneurial environment.
- Bachelor's degree required; MBA or CFA a plus.
- FINRA SIE, Series 79 and Series 63 a plus but not required.
Inclusion and Equal Opportunity Employment: B. Riley Securities is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status, Aboriginal/Native American status or any other legally-protected factors.
