Senior Loan Workout Specialist, Director

1 week ago

Dallas, United States MUFG Bank, Ltd. Full time
Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups. Across the globe, we're 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world's most trusted financial group, it's part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.

We are seeking a Senior Loan Workout Specialist / Director in our Los Angeles or New York office to service, monitor, and manage a distressed loan portfolio of wholesale corporate and project finance deals. Primary objectives for this position include: (i) independently monitor and manage any credit assigned to Special Assets Division ("SAD") (including complex, multi-bank syndicated credits as participant lender and as Administrative Agent); (ii) administer the turnaround or exit of complex credit relationships through proactive management and restructuring efforts that may include: a liquidation of Borrowers' assets, loan sales, or potentially providing ongoing financing; (iii) proactively monitor deals and assign timely and accurate internal ratings and reporting; (iv) manage several direct reports and assist/oversee execution of their responsibilities; and (v) assist Department Manager in special projects, as requested, including providing on-the-job training for earlier in career team members assigned as backup on certain accounts. SAD's primary focus is to minimize losses and maximize recoveries. We are seeking a seasoned loan workout officer with strong credit skills, cash flow modeling, loan workout and deal / personnel management experience. Qualified candidates should have a background in solving complex credit problems, as well as working well with both internal and external constituents.

Essential Duties and Responsibilities:
  • Manage an assigned portfolio of challenged credits (wholesale corporate/leveraged finance and project/structured financings, both domestic and international, across a broad range of industries) and independently manage respective workouts. Assigned accounts may be complex and have inter-creditor issues and/or sensitive sponsor relationships. MUFG may have exposure across several levels of the capital structure adding to the workout's complexity. Individual will take a leadership role and represent MUFG where MUFG is the Agent, or may not be the Lead Agent, but has a significant position in terms of credit exposure or position in the capital structure. Represent MUFG on steering committees.
  • Analyze Borrowers' and Guarantors' financial statements (and 13-week cash flows, as applicable) to: (i) measure and monitor customers' performance; (ii) determine borrower's financial ability to make debt service payments; (iii) analyze the reason(s) for default/financial distress; (iv) determine ability to turn around operations to realize improved financial performance; (v) prepare valuation analysis utilizing various methodologies, which will form basis determining potential impairment and borrower/regulatory ratings; (vi) assess repayment ability/recovery prospects under various restructuring scenarios; (vii) structure/underwrite/negotiate waivers, consents, amendments, restructurings and forbearance requests/approvals/agreements and associated documentation.
  • Use aforementioned analysis to prepare timely and accurate borrower/regulatory rating recommendations and maintain proper accrual status on each managed account.
  • Independently 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 with associated options analysis 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.
  • Independently prepare and present thoughtfully organized comprehensive concisely written memos and quarterly updates, analysis and remediation strategy recommendations to Department Manager, Bank Officers, and Committees.
  • Must be adept at independently synthesizing large amounts of data and independently processing credit requests and internal correspondence with limited manager involvement.
  • Provide advice, counsel, direction and guidance to the business line/portfolio management group regarding expedient identification and evaluation of deteriorating loan situations 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, 2nd lien debt, mezzanine, equity/sponsors, etc.).
  • Work with in-house and outside legal counsel, as appropriate, for waivers, consents, and amendment negotiations and documentation drafting.
  • Negotiate with debtors, sponsors, agent banks and other lenders to manage, workout and restructure challenged deals to improve credit quality/position, 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 requires spending significant time with other lenders and sponsors to favorably influence outcomes.
  • Regularly report to immediate supervisor, Division Manager, and others within Credit about actual/forecasted borrower and regulatory 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 and regulatory 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. Responsible for performance management, staffing, training and development of earlier in career/less experienced Workout Officers.
  • Complete other related duties and participate in special projects, forecasting, and reporting, as needed.
  • Work performed is primarily focused on returning principal and interest to MUFG. Performance is measured on a combination of economic returns to MUFG and account administration. Assigned portfolio size will vary based on the size and complexity of MUFG's respective exposure, MUFG's role in the deal (administrative agent, significant deal exposure, or participant), and where the deal is in the workout/restructuring cycle.
Qualifications (Education, Experience, Skills):
  • Bachelor's degree in Business Administration, Finance, Accounting or related discipline; CFA or MBA preferred
  • Minimum of 10 years of workout experience on complex wholesale credits with a regulated bank or as buy-side principal at distressed investment firm. Top of the professional discipline in terms of knowledge, skills and abilities. Performs the most complex projects proactively, calmly, thoughtfully, and independently.
  • Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, assigning borrower and regulatory ratings, enterprise and project valuation, and general bank lending guidelines as evidenced by 10+ years as a wholesale loan workout professional in a regulated bank and through completion of a formal bank credit training program.
  • Experience with large corporate/leveraged and project finance lending, loan documentation and loan workouts required.
  • Strong technical (credit and financial analysis) skills.
  • Well versed with loan credit documentation.
  • 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, multi-task, prioritize work and demonstrated ability to work with minimal supervision, interact with all levels of management and work within a team/consensus driven environment, as well as to work effectively under adverse, stressful and sometimes hostile conditions is a critical element of this job.
  • Personal/organizational fit: successful candidates will appreciate how we execute our job responsibilities is as important as the accomplishments we achieve.
Preferred Qualifications
  • CFA or MBA
  • Bankruptcy Code knowledge and experience


The typical base pay range for this role is between $210k - $275k depending on job-related knowledge, skills, experience and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.

MUFG Benefits Summary

We will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws (including (i) the San Francisco Fair Chance Ordinance, (ii) the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, (iii) the Los Angeles County Fair Chance Ordinance, and (iv) the California Fair Chance Act) to the extent that (a) an applicant is not subject to a statutory disqualification pursuant to Section 3(a)(39) of the Securities and Exchange Act of 1934 or Section 8a(2) or 8a(3) of the Commodity Exchange Act, and (b) they do not conflict with the background screening requirements of the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA). The major responsibilities listed above are the material job duties of this role for which the Company reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of conditional offer of employment, if any.

The above statements are intended to describe the general nature and level of 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.

We are proud to be an Equal Opportunity 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 on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual's associates or relatives that is protected under applicable federal, state, or local law.

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