Piramal - Credit Operations Analyst - Structured Finance Group

The Piramal Group :

The Piramal Group is a diversified conglomerate with operations in over 30 countries and brand-presence across 100 markets around the world. Since the late 1980s, the Piramal Group has evolved from a textile-centric business to a diversified organization, which operates across sectors such as healthcare, life sciences, healthcare information management, financial services, specialty glass packaging and real estate.

As a Group we have consistently identified opportunities ahead of the curve, even when market situations suggest the opposite. We invested in the domestic formulations business when others were focused on growing international generics. Our persistence paid off when a deal with Abbott in 2010 valued our business at USD 3.72 billion, an unprecedented 9x sales and 30x EBITDA.

The Group has identified financial services as the key growth driver and has developed significant expertise across asset classes and sectors. The financial services arm, Piramal Capital, includes two entities - Piramal Fund Management Pvt. Ltd. (PFMPL) and the Structured Finance Group (SFG) each targeting a sector of national and economic significance i.e. real estate and infrastructure. It also includes Piramal Finance Ltd., which is registered as an NBFC.

PEL's financial services businesses comprise:

- One of the largest wholesale real estate financing businesses

- Structured Finance Group for investing in special situations in India

- Distressed fund management targeting opportunities from stressed assets

Piramal's financial services businesses are organised as an integrated platform across the capital stack, which enables us to provide financing solutions across private equity, structured / mezzanine equity, structured debt, senior secured debt and even construction finance.

We also have marquee relationships with the largest global pension funds such as:

- Canadian Pension Plan Investment Board (CPPIB) for deploying upto US$750mn into residential real estate, and

- APG for deploying upto US$1bn into infrastructure mezzanine opportunities.

The combined assets under management across investment themes exceed Rs. 35,000 crores. Funds are deployed from various deployment pools including proprietary capital, domestic and offshore investors. This makes us one of the largest and fastest growing alternate finance players in India today.

In addition, we also hold significant equity interest in the Shriram Group's financial services businesses. The Shriram Group is one of India's largest non-banking financial services conglomerates in India with presence across Asset-backed lending, Consumer Finance, Life Insurance, General Insurance, Stock Broking, Asset Management and Distribution businesses. It caters to over 10 million customers through 3,000+ branches pan-India by 50,000+ employees with over Rs. 100,000 crores in assets under management. The combined market capitalization of the listed entities in the Shriram Group is in excess of Rs. 40,000 crores.

Shriram Capital is the holding company of the Group and overseas the following operating companies:

- Shriram Transport Finance: India's largest used commercial vehicle financier with over Rs. 70,000 crores in assets under management, and is listed on the National and Bombay Stock Exchanges

- Shriram City Union Finance: India's largest two-wheeler and micro-small and medium enterprise financiers with over Rs. 20,000crores in assets under management, and is listed on the National and Bombay Stock Exchanges

- Shriram General Insurance: A market leader in motor vehicle insurance and amongst the most profitable players in the industry today

- Shriram Life Insurance: Catering to the life insurance needs of the aam-admi and amongst the largest players in terms of new policy issuance

- Shriram Financial Products and Shriram Fortune Solutions: Engaged in distribution of financial products across life insurance, general insurance and retail deposits.

Mr. Ajay Piramal is the Chairman of the Piramal and Shriram Group of companies.

Our philanthropic arm, Piramal Foundation, runs projects across healthcare, education, livelihood creation and youth empowerment. Projects like Piramal Sarvajal and e-Swasthya are now Harvard Business School Case Studies.

Driven by our values and propelled by strong governance, we have built an expansive team and a wide network through partnerships with esteemed companies.

For more information about our group, please visit our website: www.piramal.com

As part of the strategic objective to target multi-fold growth with market leading ROEs, for each of the Piramal Group's alternate finance businesses under the Piramal Finance Limited platform, one of the key priorities is to streamline operations to enable a faster time-to-market, mitigate operational risks that typically accompany this scale, while sustaining our best-in-class levels of diligence, monitoring and control. This will be enabled by the setup of a wholesale credit operations function that shall serve the Structured Finance Group (SFG) business, among others.

Job Title: Credit Operations Analyst (Structured Finance Group)

Business Unit : Piramal Finance Limited

Location : Mumbai

Department/Group : Operations - Investment Ops

Domain: Financial Services

Band/Grade: 1C/2A

Degree of Travel required to : Low

Purpose of Job :

- The role will be a part of the Piramal Finance wholesale credit operations function, supporting the investments function of the Structured Finance Group (SFG).

- The SFG group specializes in providing equity/ mezzanine financing solutions/ senior lending solutions to companies in diverse sectors such as renewables, infrastructure, power, auto components, etc.

Key stakeholders :

External :

- Client company

- Internal auditor

- Lawyers

- Due-diligence consultants

- Escrow agent

- Trustee

- Banks

Internal :

- Principal - SFG Investments

- Head - Wholesale Credit Operations

- Investments team

- Legal team

- Finance team

- Risk team

- Asset Management team

Reporting structure :

Role directly reports to :

- Principal- Investments (functional reporting)

- Head - Wholesale Credit Operations (administrative)

Essential Qualifications :

- M.Com./C.S./B.Com. with 4-6 yrs. of work experience, preferably with wholesale bank

- Additional qualification like MBA in Finance/ CA Intermediate / CWA Inter is preferred

- Qualified banking credit operations professionals (large private banks such as Bank of America, Deutsche Bank, JPMC etc.) would be preferred

Essential Skills & Experience :

- Sound knowledge of wholesale financial services domain and strong understanding of wholesale financial service operations

- 3+ years of experience in investment management or credit operations

- Prior experience in handling aspects of audit, compliance, maintaining accounts would be preferred

- Well versed with Companies Act, 2013 and Secretarial Standards issued by ICSI would be preferred

- Strong understanding of investment lifecycle, assets and liabilities, credit operations

- Strong proficiency in MS Excel, experience with use of technology systems

- Ability to multi-task, work successfully under pressure, effectively manage time & workload

- Attention to detail, ownership of issues, determination to follow through with urgency

Knowledge :

- Strong understanding of investment lifecycle, assets and liabilities, credit operations

- Strong proficiency in MS Excel, experience with use of technology systems

- Good understanding MS PowerPoint, MS Word

Action :

- Ability to be a self-starter and think strategically

- Ability to multi-task, work successfully under pressure, effectively manage time & workload

- Attention to detail, ownership of issues, determination to follow through with urgency

Care :

- Maintain healthy relationships with colleagues, and third party agencies, etc.

Key Roles/Responsibilities :

Transaction/deal docket preparation :

- Coordination with Investment Manager or company (counterparty) for KYC documents etc.

- Performing CIBIL checks, RBI and other caution lists, World Check etc.

IT system data entry :

- System data entry of company (counterparty) profile, project configuration, micro-market profile (secondary data on price and sales velocity trends, comparable projects and their sales and pricing information)

- System data entry of project financial model data (prepared by the Investment Manager)

Pre-disbursement audit support :

- Coordination with Investment Manager/ counterparty and Internal Audit to ensure compliance of Condition Precedents (CPs) and supporting pre-disbursement audits

- Compliance of CP checklist prior to disbursement and taking necessary approvals for deviation, if any

Document management :

- System upload of executable/executed transaction documents, project business plans, IC notes, term sheets, due diligence reports

- Ensuring the documentation is handed over to the trustee with adequate records in soft copy maintained internally

Pre-disbursement ops :

- Ensuring documentation of sanctioned facilities are done in compliance with the sanctioned terms

- Tracking deferrals/ overdue deferrals and following up for closure with company

- Co-ordinating with Security trustee for creation and perfection of all security interests including but not limited to hypothecation, mortgage, pledge etc.

- Coordination with Treasury function for maintaining approval TATs on pre-disbursement checklists, deviation notes, secretarial compliance etc.

- Post-disbursement data management

- Follow-up with Investment Manager or Asset Manager for receipt of actuals (project sales MIS/costs/approvals) data from investee companies

Post-disbursement audit support :

Coordination with Investment Manager/ investee company and Internal Audit on compliance of Condition Subsequent (CSs) (including flagging critical CSs to the Investment Manager and Asset Manager)

- Ensuring adherence to timelines for completion of post disbursement audit

- Coordination with treasury for subsequent post disbursement audits

- Loan account, disbursement and repayment schedule maintenance

- System data entry and maintenance of cash flow schedule & events (disbursement tranches, repayments)

CTC: 5L - 7.5L