Principal, Risk Manager - Residential Real Estate; AASP

Overview

Position Overview An indirect wholly‑owned subsidiary of Apollo Management Holdings, AASP Risk (AASP) manages the securitized products and structured finance assets sourced and serviced by ATLASSPPartners and Apollo’s Asset Backed Lending business, serving as the dedicated risk management team.

The Role:

AASP is seeking a Principal to be the lead risk manager for the residential mortgage warehouse portfolio across all asset‑backed ending activities, regardless of point of origination. He/she will be responsible for conducting both asset level and counter party level credit reviews, evaluating and assessing fraud, reputational and collateral/security considerations, and for the continuous review and monitoring of residential mortgage finance exposures in the portfolio.

Reporting to the co‑heads of Asset Backed Finance Risk Management, this Principal will work closely with ATLAS and Apollo credit professionals and other risk leaders within the AASP Risk team as well as with clients and key partners. The co‑heads of Risk will rely on this senior risk officer to own the end‑to‑end risk in the portfolio including analysis on transactions, highlighting risk concerns early and ongoing, challenging the deal teams, gaining the expertise in asset classes he/she may not have it in from people who do (utilizing the ecosystem of partners available), form an independent risk view, and write a succinct risk memo/analysis.

This individual will be a self‑sufficient risk manager, handling transactions in a strong and independent way; this includes delivering an informed view to the Risk Heads and other Atlas and Apollo risk seniors. This candidate will act as an important control function, protecting capital and assessing downside risks. The ideal candidate will have experience as a Credit Risk Officer in a decision‑making role for mortgage and asset‑backed financing transactions and is comfortable challenging the status quo and establishing guardrails the business can operate in.

Product expertise is required for this role. Residential mortgage collateral includes but is not limited to agency, non‑qualified mortgages, business purpose (or investor) loans, single family rental, HELOC and closed end seconds, mortgage servicing rights and servicer advances. The individual will review and assess new and existing transactions (warehouse facilities and whole loan pools), facility amendments and renewal requests and monitor the on‑going credit quality of the portfolio.

This individual will have strong knowledge of the market and be able to communicate informed views of product and client risks including strength of originators and aggressiveness of terms and structure.

• Underwrite risk in each transaction, including evaluating the financing structures, asset risk, the risk profile of the originators and servicers, reputational risks, collateral control risks, stress testing and analytics as well as gathering market intelligence
• Accountable for making risk decisions; act like an investor to approve transactions within a delegated level of authority
• Demonstrate an ability to challenge the business (sales/portfolio/structuring teams), substantiate support or dissent for a deal and where there is dissent, work with the deal team on structural improvements which might move a transaction from “no” to “maybe/yes”
• Participate in the deal underwriting process from inception and be involved over the lifecycle of a transaction, with greater involvement should asset classes be underperforming, higher risk, less liquid, more esoteric, etc.
• Work with Legal and the deal teams on the loan agreements to ensure that documents accurately reflect the deal structure, economic terms and asset waterfalls
• Work closely with other control function partners including i) Legal, Due Diligence, and Compliance to escalte and review any reputational or franchise risk considerations including fraud and double pledging risk and ii) Treasury to evaluate any liability or liquidity considerations
• Present risk concerns and due diligence findings, make a risk recommendation and answer questions of Investment Committee members or…