Senior Loan Workout Specialist - Vice President - ...

We are seeking a Senior Loan Workout Specialist, Vice President in our New York office to service, monitor, and manage a distressed loan portfolio of wholesale corporate and project finance deals. Primary objectives for this position include: (i) independently monitor and manage each credit assigned to Special Assets Division (SAD) (including complex, multi-bank syndicated credits); (ii) administer the turnaround or exit of complex credit relationships through proactive management and restructuring efforts that may include: a liquidation of the Borrowers assets, loan sales, or potentially providing ongoing financing; (iii) proactively monitor deals and assign timely internal ratings and reporting; and (iv) assist Division Manager in special projects, as requested, including providing on-the-job training for junior staff members assigned as backup on certain accounts. SADs primary focus is to minimize losses and maximize recoveries. We are seeking a seasoned banking officer with strong credit analysis skills, cash flow modeling, loan workout and management experience and familiarity and experience negotiating loan documentation. Qualified candidates should have a background in solving credit problems, as well as working well with both internal and external constituents often with divergent competing priorities. Essential Duties and Responsibilities: Manage an assigned portfolio of challenged corporate credits (wholesale corporate and project/structured financing, both domestic and international, across a broad range of industries) and independently manage respective workouts. Assigned accounts may be complex and have inter-creditor issues. The bank may have exposure across several levels of the capital structure adding to workouts complexity. Take a leadership role and represent the bank where the bank is the Agent, or may not be the Lead Agent, but has a significant position in terms of credit exposure or position in the capital structure. Represent the bank on steering committees. Analyze Borrowers and Guarantors financial statements (including key performance indicators (KPIs)and 13-week cash flows, as applicable) to: (i) measure and monitor customers performance; (ii) determine borrowers financial ability to make debt service payments; (iii) analyze the reason(s) for default/financial distress; (iv) determine ability to turn around operations to realize improved financial performance; (v) prepare corporate valuation analysis utilizing various methodologies; (vi) assess repayment ability under various restructuring scenarios; (vii) structure/underwrite waivers, consents, amendments, restructurings and forbearance approvals and agreements. Use aforementioned analysis to prepare timely borrower and regulatory rating recommendations and maintain proper accrual status on each account. Regularly prepare and submit reports to immediate supervisor, Division Manager, and others within Credit Risk Administration about actual/forecasted borrower/regulatory rating changes that could impact capital charges or require a charge-off, as well as on matters that could impact deal/portfolio performance. Develop, document and implement detailed action plans and workout strategies, including enforcement of remedies and legal action, for all challenged credits in your portfolio and provide periodic status reports to senior management. Provide recommendations on appropriate action plan for each deal: (i) to hold position because of high likelihood for refinancing or repayment; (ii) various strategies for restructuring loans; or (iii) rationale for selling a loan with the overriding goal being to optimize the banks position and maximize loan recoveries. Review key terms and conditions of loan documentation. Negotiate enhancements as applicable. Prepare and present written quarterly updates, analysis and remediation strategy recommendations to Division Manager, Bank Officers, and Committees. Provide advice, counsel, direction and guidance to the business line/portfolio management group regarding expedient identification and evaluation of deteriorating loan situations to recognize problem loans early and to minimize losses. This may include significant strategic planning with line officers in negotiations with other lenders and participants across the capital structure (i.e., subordinated debt, 2nd lien debt, mezzanine, equity, etc.). Work with in-house and outside legal counsel, as appropriate, for waivers, consents, and amendment negotiations and documentation drafting. Negotiate with debtors and bankers to manage, workout and restructure challenged deals to improve credit quality, restructure or sell loans, in a cost-effective manner, to minimize potential losses while maximizing returns to the bank (through amendment fees, default rate interest, etc.). In complex credit structures, this will require spending significant time with other lenders, sponsors, and private equity funds to favorably influence outcomes. Regularly report to immediate supervisor, Division Manager, and others within Credit about actual/forecasted borrower rating changes that could impact capital charges or require the need for a charge-off, as well as on matters that could impact deal/portfolio performance. Prepare and submit on schedule to Division Manager and other Bank management all required reports reflecting your portfolio credits. Maintain proper accrual status and borrower ratings on each managed account. Keep abreast of business and market trends that may affect your deals and portfolio performance. Understand and adhere to the banks risk and regulatory standards, policies and controls. Identify risk-related issues needing escalation to management. Comply with corporate policy especially for capital cost/provision planning and charge-offs. Adhere to applicable compliance/operational risk controls in accordance with the bank or regulatory standards and policies. Responsible for working out challenged loans through restructuring debt, negotiating settlement agreements, pursuit of appropriate legal action and/or collateral liquidation or loan sales. Avoid lender liability issues and contain professional expenses by holding parties accountable. Provide assistance/guidance/direction to less experienced team members. Responsible for performance management, staffing, training and development of junior Workout Officers. Complete other related duties and participate in special projects, forecasting, and reporting, as needed. Work performed is primarily focused on returning principal and interest to the bank. Performance is measured on a combination of return to the bank and account administration. Assigned portfolio size will vary based on size and complexity of the banks respective exposure, the banks role in the deal (lead agent, significant deal exposure, or participant), and where the deal is in the workout/restructuring cycle. Qualifications (Education, Experience, Skills): Bachelors degree in Business Administration, Finance, Accounting or related discipline; MBA preferred Minimum of 3 years of workout experience on complex wholesale credits or 3 years of experience at a turnaround consulting firm. Top of the professional discipline in terms of knowledge, skills and abilities. Performs the most complex projects proactively, calmly, thoughtfully, and independently. Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, financial statement analysis, and general bank lending guidelines as evidenced by 7+ years as a wholesale banker in a regulated bank and through completion of a formal bank credit training program. Quantitatively based with strong technical (credit and financial analysis). Detail oriented, demonstrated ability to multi-task and manage team members (internal and external constituents). Ability to effectively negotiate appropriate exit or remediation strategies with borrowers, their counsel, and any other outside vendors/individuals that play a role in the loan workout process. Strong written, verbal, presentation and interpersonal skills. Highly proficient computer skills including: MS Word, Excel, PowerPoint, Moodys or comparable financial statement spread technology, Bloomberg, FactSet, etc. Ability to organize, prioritize work and demonstrated ability to work with minimal supervision, interact with all levels of management and work within a team environment, as well as to work effectively under adverse and sometimes hostile conditions is critical. Experience with wholesale lending, loan documentation and loan workouts is a must. Preferred Qualifications MBA or CFA designation Bankruptcy Code knowledge and experience

Created: 2024-11-19