Director​/Principal, Credit Risk; AASP

Position: Director/Principal, Credit Risk (AASP)
Location: Northern

Location New York, United States## About This Role

Position Overview An indirect wholly owned subsidiary of Apollo Management Holdings, AASP Risk Management, manages the securitized products and structured finance assets sourced and serviced by ATLAS SP Partners while serving as their sole risk manager. ATLAS SP’s lending business provides financing across the following business segments:
Residential Real Estate Commercial Real Estate Consumer & Commercial (C&C) including Hard Assets, Financial Assets and General Consumer Private Credit Finance ATLAS SP’s financing lines, or facilities, are secured by financial assets and benefit from various risk-mitigating features and structural credit enhancements, including overcollateralization, covenants, asset concentration limits, collateral quality tests, and revaluation triggers. Each facility is subject to a comprehensive underwriting process that includes evaluation of the manager, assessment of underlying asset performance risk, stress testing, and structural analysis.

Despite being “asset-backed,” ATLAS SP’s facilities are exposed to meaningful performance risk associated with the servicer/sponsor/borrower/originator, (referred to here as, the “counter party”). As a result, counter party analysis is a critical component of the underwriting process. Furthermore, ATLAS SP is increasingly entering into transactions with heightened fundamental credit exposure to the counter party, particularly in cases where there is direct correlation between counter party performance and collateral performance.

Position Overview AASP Risk is seeking a Director/Principal to join its team. This role sits within the firm’s independent Risk function and is responsible for evaluating and overseeing direct and indirect corporate credit exposures across ATLAS SP transactions. The Director/Principal will form independent credit views, assess transactions against the firm’s risk appetite, and provide clear risk recommendations to senior risk leadership and Investment Committee highlighting key risks and relevant mitigants.

The role requires disciplined fundamental analysis, sound risk judgment, and confidence and communication skills to provide constructive challenge to business leaders and product risk leaders. This is a second-line risk role with responsibility for both new transaction review and ongoing portfolio oversight. Primary Responsibilities Conduct independent fundamental credit analysis of corporate credit exposures across non-bank lending sectors including agency and non-agency residential, commercial real estate, consumer, aviation and other transportation, shipping, auto, commercial/SME, and alternative investment platforms Build and review detailed financial models, including base, downside, and stress scenarios Evaluate leverage sustainability, liquidity, refinancing risk, and covenant frameworks Assess structural mitigants and transaction features in alignment with risk parameters Prepare clear, decision-oriented risk memoranda for senior risk leadership and Inv...