Vice President, Special Credits EMEA in City of Westminster

EMEA Special Credits is responsible for corporate banking and structured finance credit for corporates, financial institutions and sovereigns. The department is entity agnostic and acts on behalf of MUFG Securities (EMEA) Plc and MUFG Bank EMEA. Its major functions include:

• Management of problematic assets
• Analysing, approving, sanctioning and monitoring the credit quality of corporate credit risks and related risks
• Analysing, approving, sanctioning and monitoring the credit quality of corporate, leveraged finance, project finance, structured trade finance, aircraft finance, asset‑backed finance (securitisation and sponsor back‑leverage products), financial institutions and sovereigns
• Monitoring, reporting and early action
• Portfolio analysis and management

Our Credit Team is part of a global organisation located in London, New York, Singapore and Tokyo. The London team is responsible for the EMEA region and works closely with other regions and MUFG Group entities and subsidiaries to ensure global consistency in credit management.

Responsibilities

• Work as directed by the Head of Special Credit Team EMEA and in conjunction with other team members in the effective management of distressed and problem assets where MUFG may have exposures across different layers in the capital structure, in different products and in various industries/sectors and jurisdictions across EMEA
• Optimize the credit costs and recoveries on problem assets in EMEA on behalf of MUFG
• Make balanced, timely and thoughtful recommendations so that appropriate credit decisions can be made on behalf of EMEA
• Support the strengthening and development of the risk appetite, portfolio monitoring and early warning frameworks in line with internal policies, senior management and regulatory expectations
• Maintain a broad network of relevant external stakeholders in the recoveries/workout space, other banks, advisors and law firms to keep MUFG at the leading edge of market practice and information
• Assist in the development of action plans and workout strategies under various restructuring options, and prepare and provide periodic updates to senior management
• Act as the workout/recoveries credit counterpart to front‑line leadership, coverage bankers and credit managers, providing support to second‑line credit officers on deteriorating names and advising other risk functions on restructuring matters
• Actively engage with borrowers, sponsors, financial creditors and other third parties, negotiate terms and structures to manage, workout and restructure problem assets and maximise recovery
• Contribute to the assessment, review and negotiation of waivers, lender consent requests and restructuring/amendment legal documentation
• Prepare high‑quality, concise credit papers and update memos that clearly present the current situation, options analysis and strategic recommendation
• Prepare and present timely communications to internal forums, committees and senior management in London and Tokyo
• Liaise with other risk functions within EMEA to support effective risk management of the region’s overall credit risk and ensure early identification of deteriorating situations and distressed assets, participating in Watch Forums and Early Warning assessments
• Represent Special Credits EMEA at internal forums within the regions and globally, as required
• Take accountability for identifying and mitigating risk, actively managing risk within the department, modelling the risk partnership with colleagues and challenging existing practice to drive positive change
• Strengthen and develop the problem‑asset framework and maintain good working relationships with stakeholders across the region and globally to share best practices
• Complete other related duties and participate in special projects, forecasting and reporting, as needed
• Adhere to the Bank’s regulatory and compliance responsibilities and fully comply with relevant policies and procedures concerning problem assets and credit cost planning; identify risk‑related issues needing escalation to management
• Follow regulatory requirements applicable to ensure each business is appropriately supported and maintain the legal entity integrity of MUFG Bank and MUFG Securities EMEA plc; resolve differences or conflicts between MUFG Bank and MUFG Securities EMEA plc and report to managers as required
• Work under functional mandates, the Dual‑Hat Arrangement Agreement and any other relevant agreements between MUFG Bank and MUFG Securities EMEA plc
• Consistently act in accordance with the Bank’s regulatory and compliance responsibilities and fully comply with relevant policies and procedures concerning problem assets and credit cost planning

Essential Skills and Experience

• Proven experience in financial restructuring / workout / recoveries gained across more than one credit cycle, likely in multiple institutions
• Experience as a representative of the institution in substantial financial restructuring / workout / recoveries transactions and multi‑bank/creditor syndicates
• Experience across a wide range of industries and sectors and multiple EMEA jurisdictions, via multiple insolvency tools
• Experience making balanced, timely and thoughtful recommendations and proactively engaging in credit decision making
• Experience in the assessment, review and negotiation of legal documentation including waivers, lender consent requests and restructuring/amendment documentation

Functional / Technical Competencies

• Extensive relevant product / industry experience with a deep area of credit specialism in restructuring, recoveries and workout, likely gained from multiple institutions
• In‑depth knowledge of credit and risk principles, products, legal documentation and insolvency frameworks
• Experience dealing with regulatory matters associated to credit risk and problem assets
• Outstanding credit assessment and credit risk management skills based on exposure to more than one credit cycle
• Experience engaging with key stakeholders on a cross‑regional, cross‑functional, global basis

Extensive Experience

• Assessing the financial performance of the borrower/company, analysing relevant financial statements (and 13‑week cash flows where applicable), trading performance and turnaround plans, and the reasons for default/financial distress
• Determining borrower’s financial ability to make debt‑service payments
• Assessing repayment ability/recovery prospects under various restructuring options, and preparing valuation/recovery analysis to determine potential impairment, borrower ratings and credit costs
• Negotiating financial and legal structures, terms and documentation

Education / Qualifications

• Essential: Bachelor’s degree
• Preferred: Master’s degree or equivalent, CFA qualification, recognised accountancy qualification, or recognised legal qualification

Personal Requirements

• Excellent communication skills, demonstrating the ability to articulate clear and concise information and messages
• Results‑driven, with a strong sense of accountability
• Ability to manage large workloads and tight deadlines, and operate with urgency, prioritising work accordingly
• Calm approach, performing well in a pressurised environment
• Strong decision‑making skills and sound judgement
• Structured and logical approach to work with strong problem‑solving skills and flexibility of thinking
• Excellent attention to detail and accuracy
• Ability to build and maintain healthy stakeholder relationships
• Excellent interpersonal skills

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