Overview
This role supports the evaluation, structuring, and ongoing monitoring of gold and silver lease and lending transactions. The Financial Analyst, Origination serves as a core analytical resource within the Origination team, assessing the financial health of counterparties and the distinct risk dynamics associated with physical precious metals transactions.
East Coast residency is required. This is a flexible/remote, full-time position with light travel and preference for proximity to Toronto, New York, or London.
Responsibilities
- Conduct financial due diligence and credit analysis on prospective counterparties across the Origination book, including lessees and metal-financed mining companies.
- Analyze audited and management financial statements, with emphasis on working capital cycles, metal inventory financing, liquidity, leverage, and debt service capacity.
- Evaluate collateral structures, including warehouse receipts, metal and share pledges, trade receivables, and personal or corporate guarantees.
- Model repayment capacity in cash and/or metal ounces using lease-rate-adjusted cash flow analysis and stressed metal price scenarios; prepare detailed credit memoranda for senior review.
- Apply the credit framework to mining counterparties, incorporating production profile, AISC, treasury position, existing debt, and royalty obligations alongside corporate financial analysis.
- Collaborate with senior Origination professionals to develop and stress-test transaction structures, including lease rates, loan-to-value ratios, repayment schedules, covenants, and security packages.
- Support legal and compliance teams in reviewing transaction documentation and ensuring financial representations are accurately reflected in credit agreements.
- Benchmark proposed terms against comparable lease rates, loan terms, and market conventions; assess relative risk and concentration across the existing book.
- Maintain and update the origination pipeline database, tracking deal stage, counterparty status, and expected close timelines.
- Produce market intelligence on key jewelers and fabrication markets, mining finance conditions, precious metals supply/demand dynamics, lease rates, forward curves, and junior mining capital markets activity.
- Conduct periodic reviews of in-force lease and loan counterparties, monitor covenant compliance and early warning indicators, and support quarterly portfolio reporting.
- Prepare materials for and participate in management presentations to prospective counterparties and institutional partners; support regional market entry analyses for priority expansion geographies.
Requirements
- 3–7 years of progressive experience in financial analysis, with direct exposure to at least one of: mining finance, metals & commodities, structured lending, or project finance.
- Demonstrated ability to independently build and interpret three-statement financial models and project-level cash flow models.
- Experience preparing written credit analyses or investment memoranda for senior review.
- Strong command of Excel-based financial modelling.
- Undergraduate degree in Finance, Economics, Engineering, or a related quantitative field.
- Excellent written and verbal communication skills, including the ability to write concise credit memoranda and present findings to senior stakeholders.
- Strong analytical rigor and credit judgement, with the ability to identify key risks, validate assumptions, and frame clear, actionable recommendations.
- Ability to handle confidential counterparty information with integrity, professionalism, and discretion.
- Intellectual curiosity about market dynamics, geopolitics, and commodity cycles, with a collaborative approach across origination, legal, and risk teams.
- Familiarity with AI tools is welcomed, provided the candidate can independently verify and reconstruct results from first principles.
Preferred Qualifications
- CFA charter holder or CFA candidate (Level II or III).
- Direct experience with lease financing and lending.
- Exposure to frontier or emerging market credit analysis, particularly sub-Saharan Africa, Central Asia, or Latin America.
Compensation & Benefits
- Competitive base salary
- Performance bonus
- Stock options
- Flexible paid time off
Location
- East Coast residency required
- Flexible/remote with light travel
- Preference for proximity to Toronto, New York, or London