Senior Workout Officer

The Risk Management Department contributes to the sustainable growth of the group through its expertise, understanding of risks, and risk management techniques. The department's mission is to independently analyze, assess, manage, and monitor risk-taking activities with the objective of achieving, together with the first line-of-defense, the best possible outcome for the bank.

Client Details

Multinational bank

Description

• Maximize recoveries and minimize losses on problem assets in accordance with bank's policy. The workout activities mainly include both debtor risk and counterparty credit risk .
• Work with counsel to manage litigation risks with a goal of minimizing the reputational and financial impact
• Manage problem asset strategies, workout negotiations, and restructuring and exit strategies including regular evaluation of the intrinsic values of problem asset collateral, enterprise valuations, and monitoring of secondary distressed debt markets.
• Work in partnership with First Line of Defense to provide advice on strategy and methods for achieving the optimum results on recovery and/or restructuring of exposures.
• Manage, in partnership with First Line of Defense to contribute problem asset expertise to develop strategy to further strategy to maximize recoveries and lead coalescence around a strategy.
• Work with 1LOD to manage intricate counterparty situations; lender groups in agented transactions; and participations and bilateral transactions.
• Coordinate with counsel (internal and/or external), financial advisors, technical advisors and creditors to develop cohesive strategies
• Analyze and evaluate the need for provisions on all assigned counterparties at least once a year or more often as changes in valuations occur. Propose and substantiate recovery analysis to feed systems that calculate provisions. Perform valuation analysis to assess recovery expectation in line with internal guidance. Present quarterly valuation recommendations to senior management.
• In parallel with default-rated exposures, oversee as Second Line of Defense a portfolio of Substandard Accrual exposures on credit watch list employing ARM's workout expertise to benefit from early intervention on problem assets. This will include but is not limited to preparing for assigned portfolio counterparties risk comments on annual reviews and conducting quarterly watch list reviews and writing minutes.
• Ensure LGDs, ratings, and classifications are accurate and reflect the current risk profile on each relationship in accordance with regulatory and bank policies.
• Keep Head of Asset Restructuring & Recovery Management informed of all material developments.
• Effectively communicate externally with agents, participants, counsels, financial advisors, and clients and internally with peers and senior management. Manage external advisors retained to effectively execute on work scope and strategies.
• Ensure that material information is communicated in a timely fashion and workout activities are coordinated internally.
• Perform as part of an integrated team by backing up and supporting fellow team members.
• Participate, as requested, with the Head of ARM and other responsible groups within the divisions on the development of default management and credit policies and procedures, documentation and reporting standards, systems requirements, and training programs. Continuous review of processes for automation, machine learning, digitization, or other methods of streamlining.
• Respond to requests for information from ARM Group Head, senior management, head office, regulators, and internal and external auditors
• Participate, as directed by Head of ARM on various internal and external audits and regulatory exams.
• Elevate Compliance-related issues as soon as identified
• Maintain a working knowledge of various regulatory, accounting, and industry developments and best practices through internal training, external research, contacts, and industry group participation.

Profile

• 10 + years of experience working for a major US or international bank
• 5+ years of experience performing credit analysis;
• 5 + years of experience working with clients and bank groups; and
• Minimum 5 years of workout/restructuring experience including working with counterparties and creditors on negotiating/enforcing on loan and trading products
• Strong credit skills
• Deep experience with loan documentation
• Background in negotiating workouts, restructurings, and/or credit agreements
• Knowledge of US GAAP related to impaired assets
• Strong working knowledge of financial markets products
• Deliver as a team player in a fast-paced environment
• Strong communication skills (written and oral)
• Ability to communicate messages effectively and succinctly to senior audiences
• Strong working knowledge of the US Bankruptcy Code
• Strong working knowledge of US regulatory guidelines and internal policies
• Experience managing distressed assets, including, but not limited to, the following risks: debtor, counterparty credit, and clearing. Experience leading bank groups as an agent and steering committees
• Experience working with debtors, lenders, and other creditors in bankruptcy, restructuring, and foreclosure
• Familiarity and proficiency on FRB regulations including those related to criticized and classified assets; leveraged lending; and best practices in problem asset management.
• BA or BS
• English

Nice to Have:

• Knowledge of European Central Bank regulations for problem assets.
• Familiarity and proficiency managing commodity borrowing base transactions and clearing exposures.
• Working knowledge of International Accounting Standard related to impaired assets.
• CFA, MBA, or JD
• Formal Bank Credit Training Program

Job Offer

Competitive Package

MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.