Distressed Debt / Restructuring Credit Risk Director

Special Credits EMEA is responsible for corporate banking and structured finance credit for Corporates, FIs and Sovereigns. Its major functions are outlined as follows:

• Management of problematic assets
• Analysing, approving, sanctioning and monitoring the credit quality of corporate credit risks and related risks
• Monitoring, reporting and early action

The London Credit team is responsible for the EMEA region and works closely with other regions, Group entities and subsidiaries within the region to ensure global consistency in credit management.

MAIN PURPOSE OF THE ROLE

• To be responsible for the effective management of a portfolio of distressed and problem assets across different layers in the capital structure, in different products and in various industries/sectors and jurisdictions across EMEA.
• To optimise the credit costs and recoveries on problem assets in EMEA.
• To make balanced, timely and thoughtful recommendations and credit decisions on behalf of EMEA and exercise delegated credit authority appropriately.
• To support in strengthening and developing the risk appetite portfolio monitoring and early warning frameworks in line with internal policies and senior management and regulatory.
• To maintain a broad network of relevant external stakeholders in the recoveries/workout space to ensure that the bank remains at the leading edge of market practice/information.

KEY RESPONSIBILITIES

• Responsible for developing and assessing action plans and workout strategies under various restructuring options and providing periodic updates to senior management.
• Provide recommendations on the most appropriate strategy, supported by relevant options analysis, to protect the Bank’s exposure.
• Workout/recoveries credit counterpart to front line leadership, coverage bankers and credit managers.
• Advise and provide consultation to other risk functions and colleagues in relation to restructuring matters.
• Actively engage with borrowers, sponsors, financial creditors and other third parties as appropriate.
• Represent the bank on CoCom’s where appropriate.
• Assessment, review and negotiation of waivers and lender consent requests.
• Prepare high quality, concise credit papers and update memos which clearly present the current situation, options analysis and strategy recommendation.
• Presentation of, and timely communications to relevant internal forums and committees and to senior management.
• Liaise with other risk functions within EMEA to support effective risk management of the region’s overall credit risk.
• Active involvement in relevant Watch Forums and Early Warning assessments.
• Responsible for representing Special Credits EMEA at internal forums within the regions and globally.
• Take accountability for identifying and mitigating risk; actively managing risk within the department.
• Maintain and enhance good working relationships with stakeholders across the region and globally.
• Complete other related duties and participate in special projects, forecasting, and reporting as needed.
• Provide guidance and direction to junior members of the Special Credits EMEA.
• Act consistently and adhere to the Bank’s regulatory and compliance responsibilities.
• Identify risk-related issues needing escalation to management.

WORK EXPERIENCE

• Proven experience in financial restructuring/workout/recoveries gained across more than one credit cycle.
• Proven experience of being the lead representative of their institution in substantial financial restructuring/workout/recoveries transactions.
• Experience in the assessment, review and negotiation of legal documentation including waivers and restructuring/amendment documentation.

SKILLS AND EXPERIENCE

• Extensive relevant product/industry experience with a deep area of credit specialism in restructuring, recoveries, and workout.
• In-depth knowledge of credit and risk principles, products, legal documentation and insolvency frameworks.
• Outstanding credit assessment and credit risk management skills.
• Experience of engagement with key stakeholders on a cross-regional, cross-functional, global basis.
• Excellent communication skills demonstrating the ability to articulate clear and concise information.
• Results driven, with a strong sense of accountability.
• Ability to manage large workloads and tight deadlines.
• Strong decision-making skills and sound judgement.
• Excellent attention to detail and accuracy.
• Ability to build and maintain healthy stakeholder relationships.