Vice President – Distressed Assets

JOB TITLE: Vice President – Distressed Assets

DEPARTMENT: Distressed Assets – DAS

REPORTING LINE: Head of DAS Americas

The Vice President will be responsible for supporting Distressed Assets assignments in the Americas. The role offers great exposure to a variety of transactions (various Product lines/instruments, industries (Real Estate, Energy/Power / Project Finance, Corporate, Trade Finance, GMD products) and geography (USA, Canada, Latam) depending of the files assignments).

The individual will be responsible for assisting Senior Recovery Managers on all aspects of Distressed Assets assignments including but not limited to the preparation of credit papers and periodic reviews (SAR), the financial and legal analysis, the structuring and day-to-day transaction management as well as liaising with internal departments (originating Business Lines, RPC, LGL, CPL, FIN/TAX as required) and participating in negotiations with borrowers and other lenders.

The individual should be autonomous, curious and detail-oriented with ability to switch from one assignment to another with different managers.

Key Responsibilities

Assist senior Recovery Managers in the management of stressed and distressed Bank portfolio assets, including loans, trades and other investments, on both Syndicated participations and Agented transactions, with the goal of maximizing recoveries, minimizing losses and mitigating risk to the Bank. This includes:

• Analyze the problem situation, assess all legal and financial options and devise suitable recovery strategies in close coordination with the senior Recovery Manager in charge of the file and external advisors (legal, financial, technical as the case may be),
• Assist the senior Recovery Managers and participate in deal teams (including originating Business lines, RPC (NY and ASD), LGL and others) in the structuration, negotiation and implementation of restructurings both in and out of court, in the Americas,
• Propose appropriate action plans, prepare credit papers and requests for loan restructurings and amendments to obtain requisite approval,
• Autonomously prepare periodic reports (SARs, Annual reviews, IAS, etc.), monitor files from performance, risk, make recommendations for rating changes and reserves and manage Bank systems as required to adequately reflect decisions made (amongst others DIAMS, CSD, Anomaly Workflow, Phidias, Eurecca, Anadefi, …),
• Participate in and/or present files and requests to various committees (NY and HO SAR committees, NY Credit Committee, HO CRC…) with the senior Recovery Manager as required,
• Manage closing/settlement for asset sales and/or residual/equity holdings for the DAS Americas group,
• Ensure smooth coordination with all relevant internal departments involved (DAS Middle Office team, Product line, RPC, LGL, CPL, FIN, Back office, …) both at local, regional and HO level as required.
• Prepare other reports and perform a variety of tasks as needed.
• Comply with all legal, regulatory and internal requirements

Requisite Skills

Portfolio encompasses stressed and distressed situations derived from all geographies in the Americas & product lines of the Bank, which requires a wide range of skills including:

• analytical skills (credit analysis, financial modelling including valuation (DCF, Multiples, debt sustainability…), legal review),
• previous experience in client-facing function with structuring and negotiation capabilities,
• very good knowledge of the bank products, internal organization and systems,
• good interpersonal skills, curiosity and willingness to learn,
• previous experience in Restructuring or knowledge about Bankruptcy law (ideally in the US) would be a plus,
• previous experience with external data providers systems (S&P Capital IQ, Bloomberg, Reorg Research, …) and with regulatory, financial accounting and/or tax issues would be a plus.
• oral and written presentation skills in English, with French, Spanish or Portuguese a plus.

Reporting:

Head of DAS Americas.