What are the responsibilities and job description for the Associate – Financial Institutions (CLOs) – New York position at McDermott Will & Schulte?
Build your big career with the firm that does Big Law, Better. McDermott Will & Schulte is a leading global law firm that brings together more than 1,700 lawyers and 1,450 business professionals. We celebrate excellence, collaboration, and community and have been recognized as a top workplace by USA Today, Fortune, The American Lawyer, Vault and others. We are also certified by Great Place to Work.
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- Enthusiasm for all perspectives: We’re smarter and stronger when everyone has a voice and a seat at the table. We welcome unique viewpoints and ideas, and we make opportunities for you and your career to thrive.
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- Real rewards for real work: We offer generous compensation packages that recognize hard work and excellence
Job Summary:
We are seeking a Junior to Mid-level associate with CLO experience to join our team in our New York office, focusing on the design, structuring, and creation of CLOs and other credit products. This role is ideal for legal professionals with experience in structuring and documenting CLOs from inception, direct lending, private credit, credit insurance and syndicated loans. ALL Applications should be submitted online through our web apply portal (applies to Search firm as well as candidates who self-apply). Questions can be directed to Renee Richford, Talent Acquisition Manager, at Rrichford@mcdermottlaw.com.
Responsibilities:
- Structure, draft, and negotiate CLOs, private credit facilities, syndicated loan agreements, and credit insurance arrangements.
- Lead product development for new structured finance offerings, working closely with business and capital markets teams.
- Provide guidance on regulatory considerations affecting structured finance transactions in the U.S. and cross-border contexts.
- Advise on transaction execution, including documentation, negotiation, and closing processes.
- Partner with investment, risk, and compliance teams to ensure products meet commercial and regulatory objectives.
- Monitor market and legal developments impacting credit products and structured finance structures.
Requirements:
- JD or equivalent
- Applicants must be admitted to the New York bar and in good standing
- Excellent drafting, negotiation, and transaction management skills
- Significant structured finance experience from a top-tier law firm
- Demonstrated ability to create and advise on structured products (CLOs, credit facilities, etc.)
- Ability to work independently while collaborating with cross-functional deal teams in high-pressure, fast-paced environments.
Expected Pay Range for Associates: 2026/2025 Class Compensation Years: $225,000
2024 Class Compensation Years: $235,000
2023 Class Compensation Years: $260,000
2022 Class Compensation Years: $310,000
2021 Class Compensation Years: $365,000
2020 Class Compensation Years: $390,000
2019 Class Compensation Years: $420,000
2018 and more senior class compensation years: $435,000
Salary : $225,000 - $435,000