Structured Finance Analyst

Graystone Capital | Global Enablement Centre, India www.graystone-capital.com

About Graystone Capital

Graystone Capital arranges and structures debt financing for businesses across the GCC and wider region, trade finance, working capital, structured credit, and syndicated facilities, connecting clients with banks, private credit funds, and institutional investors.

Our Global Enablement Centre in India is the analytical engine behind that work. This is not a back-office support function. The Centre produces the credit and diligence work product that goes directly to investment committees, lenders, and investors.

The role

You will own the analytical work that decides whether a transaction proceeds. Two distinct workstreams:

Financial due diligence on borrowers and investment targets, testing whether reported earnings are repeatable, whether cash conversion is real, and what the balance sheet actually contains.

Credit and investment memoranda for debt financing mandates and private equity opportunities, the documents on which capital is committed.

You will see transactions end to end, from first data request to committee decision. The analysis is yours; you will be expected to defend it.

What you will actually do

Financial due diligence

- Build Quality of Earnings analyses: normalise reported EBITDA for one-off, non-recurring, out-of-period and owner-related items, and construct a defensible adjusted earnings bridge
- Prepare working capital analyses, trailing twelve-month averages, seasonality, and a normalised working capital peg
- Analyse cash conversion and free cash flow, distinguishing accounting profit from cash actually generated
- Identify debt-like items and off-balance-sheet exposures that belong in the net debt calculation
- Perform revenue and customer concentration analysis, cohort retention, and pricing-versus-volume decomposition
- Review related-party transactions, revenue recognition policies, and internal controls,



flagging inconsistencies and red flags in the underlying data
- Produce clean supporting schedules that tie to source documents and survive external scrutiny

Credit memoranda and investment analysis

- Draft full credit memoranda: business and promoter background, industry and competitive position, financial analysis, transaction structure, security package, risks and mitigants, and a transparent recommendation
- Build and maintain three-statement financial models with integrated debt schedules, covenant calculations, and cash sweep mechanics
- Calculate and interpret the ratios that drive decisions — Net Debt/EBITDA, Interest Coverage, DSCR, Fixed Charge Coverage, current and quick ratios, and working capital cycle
- Run base, management and downside stress cases, testing covenant headroom and refinancing capacity under adverse conditions
- Prepare LBO and returns analyses for private equity opportunities, including entry and exit multiple sensitivities and IRR/MOIC bridges
- Assess security structures, guarantees, and post-dated instrument arrangements typical of GCC trade finance
- Support term sheet preparation and respond to lender and investor queries during syndication

Ongoing

- Monitor portfolio covenant compliance and flag early warning indicators
- Maintain comparable company and precedent transaction databases across our sectors
- Work directly with the Dubai origination team, and with client finance teams during live diligence

What we are looking for

Essential

- 3–6 years in financial due diligence, credit analysis,



leveraged or structured finance, transaction advisory, private credit, or investment banking
- CA, CFA (any level cleared), MBA (Finance), or equivalent
- Demonstrable Quality of Earnings and working capital experience, you should be able to walk us through an EBITDA bridge you built and defend every adjustment
- Advanced financial modelling in Excel, built from scratch rather than adapted from templates
- Genuine command of financial statement analysis under IFRS, including the ability to spot what is missing rather than only analyse what is presented
- Strong business writing. A credit memo is a piece of persuasive writing supported by numbers, and we will test this at interview
- Ability to work to transaction timelines, a mid-market diligence typically runs four to six weeks and the deadline is set by the deal, not by us

- Advantageous

- Exposure to GCC or wider MENA markets, or to Islamic finance structures such as Murabaha
- Big Four transaction services background
- Trade finance, supply chain finance, or asset-based lending experience
- Familiarity with Capital IQ, Bloomberg, or comparable platforms
- Working knowledge of Power BI or Python for data-heavy analysis

What will make you successful here

Intellectual honesty above all. We would rather hear that a deal does not work than receive an analysis engineered toward the answer someone wants. Judgement about which questions matter. And the confidence to escalate an inconsistency in a data room rather than reconcile around it.

Why this role

- Direct exposure to live transactions and to the investment committee, not to a processing queue
- Work across both debt and equity, which few analyst roles offer at this stage
- A genuinely growing platform — you will help build how this function operates rather than inherit a fixed process
- Close working relationship with the Dubai team, with travel opportunity

📌 Structured Finance Analyst (Hyderabad)
🏢 Graystone Capital
📍 Hyderabad