Senior Associate, Alternative Operations

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Senior Associate, Alternative Operations at PIMCO: manage private credit settlements, credit docs, and vendor relationships.

5+ years in private credit, Excel & Appian skills, based in New York or Austin with compensation $125k‑$140.5k.

Position Description

We are seeking a Senior Associate, Alternative Operations , to support the firm’s Special Situations Group (SSG) and Insurance‑Linked Strategies (ILS). This role sits at the center of private credit and alternative investment operations, with a strong focus on loan‑based private financings, preferred equity, and bespoke structures.

Location

New York, NY or Austin, TX

Responsibilities

The key responsibilities include, but are not limited to:

• Support SSG and ILS portfolio managers with settlement oversight and full lifecycle management of private and originated loan trades, including loan-based financing and preferred equity.
• Provide day‑to‑day operational coverage for SSG and ILS portfolio managers. Including deal settlement, funding coordination, wire instruction updates, and cash movements.
• Serve as an escalation point and provide oversight for outsourced service providers performing back‑office functions such as settlements, asset setup, waterfall calculations, P&I processing, cash and position reconciliation, document custody storage, etc.)
• Review and interpret credit agreements to understand and operationalize key terms, including accrual mechanics, indices, payment schedules, and maturities.
• Respond to detailed loan‑level questions (e.g., principal balances, accrual calculations, payment timing) from internal stakeholders and client‑facing teams.
• Educate service providers and internal partners on deal mechanics and structuring.
• Support loan amendments and other non‑standard lifecycle events through accurate operational execution.
• Support complex loan amendments, restructurings, share conversions, and other non‑standard lifecycle events.
• Partner with Account Managers, who are the primary client‑facing contacts for insurance and reinsurance investments, by supporting trade booking inquires and reporting needs.
• Participate in monthly activity reviews with select clients, as required.
• Work closely with the Alternatives Finance team on cash management requirements related on fund development and deal facilitation issues.
• Enhance controls and oversight for non‑standard alternative transactions across PIMCO.
• Support the operational aspects of bespoke loan financings and Separately Managed Accounts (SMAs).
• Manage cross‑functional projects focused on process improvement, including Appian workflow development scenarios.
• Liaise with vendors, custodians, and banking institutions to support service enhancements and new product solutions
• Participate in special projects.

Position Requirements

Minimum of a bachelor’s degree required. Minimum five (5) years of relevant operational experience across private and direct originated debt and/or equity. Strong knowledge of loan‑based products, including term loans, revolvers, delayed draws, and privately originated debt/equity. Experience should encompass loan setup, interest calculations, amendments, restructuring, loan agency functions, and the loan settlement process, including complex deal structures and control/pledge agreements. Hands‑on exposure reviewing credit agreements, knowledge of key terms for servicing loans, how loans accrue, communications with service providers to ensure deal facilitation, etc. Experience working with transfer agents (e.g. restricted shares, etc.) Exposure to SMAs, private equity and hedge fund organizational structures; frameworks from booking and settlement through accounting and maintenance of deals post‑settlement. Alternatively, experience with distressed debt or corporate loan operations` Exposure to alternative investments and financing arrangements(e.g., purchase and sales agreements, loan set up and settlement processes, amendments, waterfalls, Total Return Swaps (TRS), etc.) Familiarity with private equity fund frameworks, covering the entire process from booking and settlement to accounting and post‑settlement maintenance. Proven experience in managing relationships with custody and accounting service providers for supported products. Understanding of the accounting implications when recording lifecycle events, including principal and interest (P&I), expenses, and capital contributions/distributions. Ability to extract key terms from credit facility documentation and articulate deal structuring effectively. Good understanding of fund accounting across various complex asset classes. Proven track record in managing complex securities and processing tasks, particularly with financing instruments and strategies. Proficient in Excel, with the capability to efficiently analyze large data sets.

Salary Range

Salary Range: $ 125,000.00 - $ 140,500.00

Equal Employment Opportunity and Affi­mitative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.