Associate, Fund Finance Credit Underwriting & Portfolio Management (First Line of Defense)

About the role

The Associate role sits within Santander Corporate & Investment Banking and acts as a First Line of Defense credit professional. You will support underwriting, structuring, execution and active portfolio management of fund finance transactions for private capital clients such as private equity, credit, infrastructure and other alternative asset managers.

Key responsibilities

• Prepare, analyse and manage credit exposures, ensuring accurate underwriting, due‑diligence and documentation.
• Support structuring of subscription lines, NAV, hybrid, EBL and related transactions, including new originations, refinancings, extensions, upsizes and amendments.
• Develop comprehensive credit approval packages with borrowing‑base evaluation, liquidity analysis, financial modelling, stress testing and risk‑rating assessment.
• Deliver high‑quality work with strong focus on credit risk assessment, transaction structuring and execution discipline.
• Formulate clear, judgment‑driven credit recommendations that highlight key risks, mitigants and alignment with Santander’s credit standards.

Required profile

• Ability to exercise independent credit judgment and take ownership of assigned transactions.
• Strong analytical rigor and attention to detail.
• Effective partnership with Product, Capital Markets, Legal and Independent Risk teams.

Required skills

• Financial modelling
• Credit analysis
• Stress testing
• Risk rating assessment