Senior Credit Analyst, Sponsor Finance

Job Title Senior Credit Analyst, Sponsor Finance Location Costa Mesa What you’ll do As a Senior Credit Analyst in the Sponsor Finance Group, you’ll serve as a core member of the deal team underwriting senior secured credit facilities to private equity-backed companies across software, technology, healthcare IT, and business services. You will own the end-to-end credit process - from initial deal screening through Investment Committee presentation to ongoing portfolio surveillance - producing institutional-quality work product that drives credit decisions. Evaluate new leveraged buyout, add-on acquisition, and recapitalization opportunities sourced from private equity sponsors, preparing credit screeners that synthesize transaction structures, financial metrics, deal strengths, and key credit risks with mitigants. Build and maintain detailed underwriting financial models in Excel, including multi-year projections, sources & uses, capitalization tables, debt schedules, fixed charge coverage, excess free cash flow, and deleveraging analyses under base and downside scenarios. Author comprehensive Loan Presentations for Investment Committee approval, including executive summaries, investment theses, sponsor analyses, industry and business overviews, financial trend analysis, sensitivity cases, and risk rating recommendations. Analyze recurring revenue business models, including ARR-based leverage constructs, gross/net retention, logo churn, customer concentration, and unit economics. Maintain Monthly Trend Cards for portfolio credits, tracking revenue, Adj. EBITDA, free cash flow, liquidity, covenant compliance, and performance-to-plan variances. Participate in sponsor and management calls, capturing key performance updates, strategic developments, and emerging risks; proactively identify early warning signals and recommend appropriate actions. Support relationship managers in structuring and negotiating deal terms, covenant packages, and credit agreement modifications. What you’ll need 2+ years of related experience in leveraged lending, sponsor finance, middle-market commercial banking, private credit, or investment banking. Bachelor's degree or equivalent experience required. Demonstrated ability to independently build and maintain multi-scenario financial models in Excel - not just populate templates. Strong command of leveraged finance concepts: capital structures, leverage and coverage ratios, excess cash flow sweeps, covenant structures, subordination, and intercreditor dynamics. Experience analyzing SaaS and recurring revenue business models, including ARR-based metrics and retention dynamics is a plus. Excellent written communication skills with the ability to produce clear, structured, IC-ready credit memoranda. Strong analytical, conceptual, and organizational skills with the ability to develop informed views on industries, business models, and competitive dynamics. Ability to self-motivate and manage multiple transactions and portfolio credits simultaneously. Compensation Hourly range for new hires is generally $36.73 - $45.38 for Costa Mesa, CA. Hourly range for new hires is generally $39.93 - $49.32 for San Jose, CA. Salary amount is determined by specific job location. In addition, the role may be eligible for annual bonus/incentives earned. Benefits you'll love We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you’ll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands‑on experience to help grow your career! Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email View email address on click.appcast.io or call View phone number on click.appcast.io. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process. #J-18808-Ljbffr