Special Assets Manager

Special Assets ManagerDepartment: CreditEmployment Type: Full TimeLocation: RemoteReporting To: Steve KerrDescriptionGrasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.What you'll do:Maximize recoveries and minimize losses on problem assets in accordance with bank's policyWork with counsel to manage litigation risks with a goal of minimizing the reputational and financial impact to GHBManage 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 marketsWork in partnership with First Line of Defense to provide advice on strategy and methods for achieving the optimum results on recovery andor restructuring of exposuresManage, in partnership with First Line of Defense to contribute problem asset expertise to develop strategy to further GHB's strategy to maximize recoveries and lead coalescence around a strategyCoordinate with counsel (internal andor external), financial advisors, technical advisors and creditors to develop cohesive strategiesIn parallel with default-rated exposures, oversee as Second Line of Defense a portfolio of Substandard Accrual exposures on GHB's credit watch list employing 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 minutesEnsure LGDs, ratings, and classifications are accurate and reflect the current risk profile on each relationship in accordance with regulatory and bank policiesEffectively communicate externally with agents, participants, counsels, financial advisors, and clients and internally with peers and senior managementManage external advisors retained by GHB to effectively execute on work scope and strategiesEnsure that material information is communicated in a timely fashion and workout activities are coordinated internallyPerform as part of an integrated team by backing up and supporting fellow team membersPrepare closing memos with "lessons learned" when workouts are completedWork on special projects, as assignedWhat you need:10 + years of experience working for a US bank5+ years of experience performing credit analysis; 5 + years of experience working with clients and bank groups; and minimum 5 years of workoutrestructuring experience including working with counterparties and creditors on negotiatingenforcing on loan and trading productsStrong credit skillsDeep experience with loan documentationBackground in negotiating workouts, restructurings, andor credit agreementsKnowledge of US GAAP related to impaired assetsStrong working knowledge of financial markets productsDeliver as a team player in a fast-paced environmentsStrong communication skills (written and oralAbility to communicate messages effectively and succinctly to senior audiencesStrong working knowledge of the US Bankruptcy CodeStrong working knowledge of US regulatory guidelines and internal policiesExperience 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 committeesExperience working with debtors, lenders, and other creditors in bankruptcy, restructuring, and foreclosure

Created: 2025-02-20