Vice President, Special Credits EMEA

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OVERVIEW OF THE DEPARTMENT/SECTION

EMEA Special Credits is responsible for corporate banking and structured finance credit for Corporates, FIs, and Sovereigns. The department is entity agnostic and acts on behalf of MUFG Securities (EMEA) Plc and MUFG Bank EMEA. 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
• Portfolio analysis and management

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

MAIN PURPOSE OF THE ROLE

• To 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.
• To optimize the credit costs, and recoveries on problem assets in EMEA on behalf of MUFG.
• To make balanced, timely and thoughtful recommendations so that appropriate credit decisions can be made on behalf of EMEA.
• To support in the strengthening and developing of the risk appetite portfolio monitoring, and early warning frameworks in line with internal policies and senior management and regulatory expectations.
• To maintain a broad network of relevant external stakeholders in the recoveries/workout space in other banks, advisors, law firms etc., to ensure that MUFG remains at the leading edge of market practice/information.

KEY RESPONSIBILITIES

• Assisting in the development of action plans and workout strategies under the various restructuring options, and preparing, and where appropriate providing, periodic updates to senior management.
• Involvement in the compiling of the recommendations on the most appropriate strategy, supported by relevant options analysis, to protect the Banks exposure.
• Workout/recoveries credit counterpart to front line leadership, coverage bankers and credit managers, and applicable product origination and distribution businesses, and support the second line credit officers on deteriorating names, as appropriate.
• Actively engage with borrowers, sponsors, financial creditors and other third parties (including financial advisors and external legal counsel) as appropriate, and active involvement in the negotiation of terms and structures in order to manage, workout and restructure the problem assets with the aim to enhance the Bank’s position and maximize the recovery of problem loans.
• Preparing high quality, concise credit papers and update memos which clearly present the current situation, options analysis and strategy recommendation.
• Preparing, and where appropriate presentation of, timely communications to relevant internal forums and committees and to senior management both 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 the early identification of deteriorating situations and distressed assets.
• Active involvement in relevant Watch Forums and Early Warning assessments.
• Complete other related duties and participate in special projects, forecasting, and reporting, as needed.

WORK EXPERIENCE

• Proven experience in financial restructuring/workout/recoveries gained across more than one credit cycle, and likely to have been gained in more than one institution.
• Proven experience of being a representative of their institution in substantial financial restructuring/workout/recoveries transactions, and in multi-bank/creditor syndicates.
• Experience in the assessment, review and negotiation of legal documentation including but not limited to waivers, lender consent requests and restructuring/amendment documentation.

SKILLS AND EXPERIENCE

• Extensive relevant product/industry experience with a deep area of credit specialism in restructuring, recoveries, and workout likely to have been gained from more than one institution.
• In depth knowledge of credit and risk principles, products, legal documentation and insolvency frameworks.
• Outstanding credit assessment and credit risk management skills based on experience of exposure to more than one credit cycle.
• Excellent communication skills demonstrating the ability to articulate clear and concise information and messages.
• Results driven, with a strong sense of accountability.
• The ability to manage large workloads and tight deadlines, and to operate with urgency and prioritise work accordingly.
• A calm approach, with the ability to perform well in a pressurised environment.
• Strong decision making skills, the ability to demonstrate sound judgement.
• Excellent attention to detail and accuracy.
• Ability to build and maintain healthy stakeholder relationships.

PERSONAL REQUIREMENTS

• Excellent interpersonal skills.
• Act consistently and adhere with the Bank’s regulatory and compliance responsibilities and fully comply with relevant policies and procedures especially in relation to problem assets and credit cost planning.
• Identify risk-related issues needing escalation to management.

We are open to considering flexible working requests in line with organisational requirements. MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination.