AVP - Director Loan Workout Specialist

3 weeks ago

Houston, United States Broadgate Full time

Broadgate are excited to be partnering with an International Bank who are looking for a number of Loan Workout Specialists from AVP - Director level.


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.

• 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 the firms 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.


Qualifications (Education, Experience, Skills):


• Bachelor’s degree in Business Administration, Finance, Accounting or related discipline; CFA or MBA preferred

• 5+ 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 15+ 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.

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