Financial Professional

Steven Loell Avary

*** ****** ***** #***

New York, NY 10280

Cell–917-***-****

*************@*****.***

http://www.linkedin.com/in/stevenavary

PROFESSIONAL SUMMARY

Versatile financial professional with a hybrid talent stack bridging transaction and research roles, enhanced with graduate degrees from esteemed institutions, gold standard professional credentials, and formal credit training. Generalized specialist with multisector experience ranging from start-ups to Fortune 500™ issuers including the entire capital structure, M&A, and other advisory services for growth, refinancing, leveraged recapitalizations, and general corporate purposes, with a focus on leveraged finance. Prepared origination materials and participated in presentations to C-Suite executives. Performed due diligence and produced and reviewed transaction documents. Fundamental credit analyses of capital structure, liquidity, and cash flow, and evaluated debt capacity and borrowing base. Valuations incorporated DCF, comparables, LBO, Sum-of-the-Parts, and precedent transactions. Mentored junior personnel EXPERIENCE–Work samples and transaction list available via LinkedIn profile Attained MSGA; CCRM, CMA, CRC, CTP, FMVA, and FP&A credentials; SIE and 2008–Present Series 63 licenses; CFASNY, NABE, and NYIF classes; book contributor; and, nonprofit activities Moody’s Investors Service, New York, NY 2006–2008

Corporate Finance Associate Analyst–Fundamental corporate credit rating analyst for a Big Three credit rating agency. Energy coverage included exploration and production (E&P), oil sands, midstream, oilfield service, and contract drillers. Technology coverage included hardware, software, office products, electronic manufacturing services (EMS), and transaction processors. Published credit reports, news releases, and analyses of investment-grade and high-yield issuers. Prepared liquidity and Loss Given Default (LGD) models, and assessed collateral packages to evaluate relative risk ratings

• Created analysis package for Williams Partners L.P.’s acquisition of Wamsutter LLC from Williams Companies

• Produced analysis package for Flextronics-Solectron M&A transaction and associated press release and opinion

• Constructed analysis package for McDonald Technologies’ senior PIK toggle term loan Attained MBA; CAIA and CPA certifications. Took AMT modeling classes 2004–2006 Northern Trust, Chicago, IL 2003–2003

Fixed-Income Research Analyst–Fundamental corporate buy-side high-yield analyst for a Top 20 asset manager. Coverage included auto parts suppliers, consumer products, retail, leisure, food and beverage, and restaurants. Monitored portfolio of approximately 40 credits and $100 million in assets for an approximate $1 billion fund. Conveyed portfolio recommendations and relative value information to portfolio manager and trader

• Flagged Le-Natures regarding independence of process purity assessment which minimized portfolio exposure

• Identified 2/3’s of issuer’s EBITDA improvement was due to accounting change mitigating misrepresentation effects Attained MSA. Advised investment boutique. Took S&P credit course 2001–2003 Dain Rauscher Wessels, Houston, TX 1998–2001

Fixed-Income Research Associate–Fundamental corporate sell-side high-yield energy analyst for a middle-market investment bank. Published research on E&P, midstream, oilfield service, and contract drillers

• Instrumental in pre-packaged bankruptcy negotiations of Southern Mineral. Bankruptcy Court utilized liquidation analysis and valuation to determine the equity split. From price on research initiation, bondholders realized a 162.4% total return (45.3% IRR) subsequent to issuer’s acquisition

• Published more research than any other analyst team, approximately 1/3 greater than the next most productive team, even while greater resource constrained (e.g., broader coverage, fewer team members) relative to other analyst teams

• Advised on approximately $1 billion in transactions which included pricing, rating estimates, and structuring Steven Loell Avary Resume

EXPERIENCE–(Continued)

John S. Herold, Houston, TX 1997–1997

Fixed-Income Research Analyst–Investment-grade and high-yield corporate energy analyst with an independent research and consulting firm to the oil & gas industry. Published research on E&P and refining issuers

• Established fixed-income product and cultivated buy-side, sell-side, and issuer relationships with marketing efforts

• Managed direct report. Mentored new analyst on accounting, finance, economic, credit, and industry issues ABN AMRO, Houston, TX 1996–1997

Credit Analyst–Corporate finance analyst for an international bank ranked in the Top 20 largest in the world at the time. Prepared loan proposals and associated memoranda. Monitored $3+ billion loan and swap portfolio, including cashflow, asset-backed, and oil & gas reserve-based

• Flagged Enron-related credits regarding the economic rationale of off-balance-sheet entities

• Identified habitual technical default violations by issuers overlooked by predecessors leading to waiver fees Growth Capital Partners, Houston, TX 1992–1996

Financial Analyst–Corporate finance analyst for a boutique investment-bank. Executed 27 transactions ranging from secured financings to private equity, M&A, and restructuring. Identified targets and capital providers for various transactions. Modeled oil & gas reserves including sensitizing price deck, production, cost escalation, and discount rates for the valuation of assets

• Led data room process for Ledco gas pipeline asset divestiture for Steinhardt Partners, L.P. Sold to Tejas Gas

• Structured and executed buyout of two divisions from oilfield service firm Baker Hughes. Identified capital providers including senior bank debt, subordinated seller and institutional notes and private equity, and provided credit assessment and valuation estimation

• Analyzed acquisition of partnership interests from Prudential Insurance for Hugoton Energy, identified additional targets and capital providers including bank financing and equity placement with Odyssey Partners, L.P., and provided IPO advice including valuation expectations which led to transaction consummations and stock listing

• Financial and market analysis utilized in negotiation package that alleviated debt covenants in restructuring of Anheuser-Busch distributor

EDUCATION–Academic samples available via LinkedIn profile The University of Chicago, Booth School of Business, Chicago, IL Master of Business Administration (MBA), Concentrations in Accounting and Finance Northwestern University, Evanston, IL Current

Master of Science in Data Science (MSDS), Concentration in Analytics and Modeling. Part-time/online program New York University, Center for Global Affairs, New York, NY Master of Science in Global Affairs (MSGA), Concentration in Private Sector: International and Energy Economics with an emphasis on geopolitical and sovereign risk and analysis of trade and capital flows DePaul University, Kellstadt Graduate School of Business, Chicago, IL Master of Science in Accountancy (MSA)

Stephen F. Austin State University, Nacogdoches, TX Bachelor of Science (BS), Concentration in Political Economy PROFESSIONAL CREDENTIALS AND LICENSES

Accounting–Certified Public Accountant (CPA) and Certified Management Accountant (CMA) Credit–Credit and Counterparty Risk Manager (CCRM) and Credit Risk Certification (CRC) Finance–Chartered Financial Analyst (CFA) Level III Candidate; Chartered Alternative Investment Analyst (CAIA); Certified Corporate Financial Planning & Analysis (FP&A) Professional; Certified Treasury Professional (CTP); Financial Modeling and Valuation Analyst (FMVA)

Risk–Energy Risk Professional (ERP) Level II Candidate Licenses–(Self-sponsored) Securities Industry Essentials (SIE) and Series 63 Steven Loell Avary Resume

PROFESSIONAL TRAINING

Communications–National Association for Business Economics (NABE) Writing Skills for Business Economists and Analysts; and, CFA Society New York (CFASNY) Top Tips for Great Research Reports Credit–ABN AMRO North America; Moody’s Investors Service; Standard & Poor’s; New York Institute of Finance

(NYIF) Advanced Credit Risk Professional; CFASNY Credit Derivatives, and High-Yield Bonds Economics–NABE Applied Econometrics, Business Applications of Statistics and Data Analytics, Economics of Strategy and Managerial Decision Making, and Economic Measurement Industry Primer–EDI Petroleum Reserve and Economic Fundamentals. A geology and reserve engineering course Negotiations–Harvard Business School (HBS)-Negotiation Mastery Strategy–Cornell University-Business Strategy (current) TECHNOLOGY AND TOOLS

Technology–Bloomberg, Capital IQ, FactSet, MS Office Financial Modeling–Adkins Matchett & Toy (AMT)-Power, M&A, and LBO; and, CFI’s FMVA program ACTIVITIES AND INTERESTS

Chamber Orchestra of New York, New York, NY–New York City’s Premier Young Professionals Orchestra. Nonprofit promoting musicians of classical and modern chamber orchestra music by providing a platform to develop and refine their talent

President Board of Directors 2019–Present

Governing Board Member 2016–Present

• Recruited seven board members to support governance oversight, provide additional labor, expand networks, raise brand visibility, and increase revenue. Led to aforementioned and greater productivity and effectiveness, and risk identification and mitigation

• Leading development of committee structure to decentralize production for greater efficiency and effectiveness. In nascent phase

• Authored inaugural annual report for enhanced marketing, funding, and brand visibility opportunities. Awaiting board review and sign off

• Identified development manager to facilitate access to institutional funding and philanthropists. In nascent phase

• Leading restructuring of strategy, structure, and operations to better align for effectiveness and efficiency in mandate execution. In nascent phase

• Initiated sponsor and donor outreach to enhance relationship, and to increase and annuitize revenue stream. In nascent phase

• Created Project Allegro, a playbook for integration and execution of strategic brand, talent acquisition, and economic initiatives. Revenues increased 320% over two years.

• Authored Transition Report that provided historical context, changes implemented, and recommendations for strategic restructuring to position organization for greater efficiencies and sustainable long-term growth Court Appointed Special Advocates (CASA) for Children of New York City, New York, NY 2011–2017 Board of Directors–Nonprofit assisting the transition of foster care children into safe, permanent homes

• Corrected erroneous accounting reports provided by independent auditor on gain from lease termination and asset transfer in step merger with Fund for the City of New York (FCNY)

• Provided strategic cost/benefit analysis and accounting reconciliations with harmonized financials for step merger with FCNY

Rosenbaum, Joshua and Joshua Pearl. Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions. Wiley. 2013–Contributor and editor to best-selling book utilized by students and practitioners alike. To be acknowledged in the third edition

Oenology–Wine & Spirit Education Trust (Foundations Certificate)

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