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Senior Workout Specialist - Special Assets Division, Vice Presid
NEW YORK NY 10176
Category: Banking
  • Your pay will be discussed at your interview

Job code: lhw-e0-90671407

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MUFG Union Bank

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  Job posted:   Thu Jun 7, 2018
  Distance to work:   ? miles
       
  24 Views, 0 Applications  
 
Senior Workout Specialist - Special Assets Division, Vice Presid
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we're 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that's working to fulfill its vision to be the world's most trusted financial group.
Job Summary:
We are seeking Vice President/Senior Loan Workout Specialists in our New York office to service, monitor, and assist in managing a distressed loan portfolio. Primary objectives for this position include: (i) monitor and manage any credit assigned to Special Assets Division ("SAD"); (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; and (iii) assist Division Manager in special projects, as requested, including providing on-the-job training for junior staff members on the team. SAD's primary focus is to minimize losses and maximize recoveries. We are seeking experienced bankers with strong credit skills, cash flow modeling, and loan workout experience. Qualified candidates should have a background in solving credit problems, as well as working well with both internal and external constituents.
Major Responsibilities:
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* Assist in managing an assigned portfolio of challenged corporate credits (wholesale and project financing, both domestic and international, across a broad range of industries) and assist in managing respective workouts. Accounts may be complex and have inter-creditor issues. MUFG may have exposure across several levels of the capital structure adding to the complexity of the workout. Represent MUFG in large credits where MUFG may not be the Lead Agent, but has a significant position in terms of credit exposure or position in the capital structure. Seek MUFG representation on steering committees, etc.
* Analyze Borrowers' and Guarantors' financial statements (and 13-week cash flows, as applicable) to: (i) measure and monitor customers' performance; (ii) test adherence to financial covenants; (iii) determine borrower's financial ability to make debt service payments; (iv), analyze the reason(s) for default/financial distress; (v) determine the ability to turn around operations to realize improved financial performance, (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 rating recommendations and maintain proper accrual status and borrower ratings on each managed account.
* 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 MUFG's position and maximize loan recoveries.
* 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 in order 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, 2ndlien debt, mezzanine, equity, etc.).
* Work with in-house and outside counsel, as appropriate, for waivers, consents, and amendment negotiations and documentation drafting.
* Assist in negotiations 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 MUFG (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 MUFG's 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 MUFG 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.
* Complete other related duties and participate in special projects, forecasting, and reporting, as needed.
/ Qualifications: /
/ /
* Bachelor's degree in Business Administration, Finance, Accounting or related discipline; MBA preferred
* Minimum of 6-8 years of workout experience on complex wholesale credits or 3 years of experience at a turnaround consulting firm.
* Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, financial statement analysis, and general bank lending guidelines as evidenced by 6 years as a wholesale credit analyst in a bank and through completion of a formal bank credit training program.
* 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, Moody's or comparable financial statement spread technology, Bloomberg and S&P Capital IQ, 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.
* Bachelor's degree in Business Administration, Finance, Accounting or related discipline; MBA preferred
* Minimum of 6-8 years of workout experience on complex wholesale credits or 3 years of experience at a turnaround consulting firm.
* Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, financial statement analysis, and general bank lending guidelines as evidenced by 6 years as a wholesale credit analyst in a bank and through completion of a formal bank credit training program.
* 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, Moody's or comparable financial statement spread technology, Bloomberg and S&P Capital IQ, 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.
/ The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified // . /
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/ We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category. /
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/ A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses. /
**Job:** **Credit*
**Title:** *Senior Workout Specialist - Special Assets Division, Vice President*
**Location:** *NEW YORK-New York*
**Requisition ID:** *10021369-WD*

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