Senior Loan Workout Specialist, Director
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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.
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Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
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:
- 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).
- 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.
- Proactively monitor deals and assign timely and accurate internal ratings and reporting.
- Manage several direct reports and assist/oversee execution of their responsibilities.
- 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.
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.
- Analyze Borrowers’ and Guarantors’ financial statements (and 13-week cash flows, as applicable) to measure and monitor customers’ performance, determine financial ability to make debt service payments, and analyze reasons for default/financial distress.
- 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 for all challenged credits in your portfolio.
- Prepare and present thoughtfully organized comprehensive memos and quarterly updates to Department Manager, Bank Officers, and Committees.
- Provide advice, counsel, direction and guidance to the business line/portfolio management group regarding expedient identification and evaluation of deteriorating loan situations.
- Work with in-house and outside legal counsel for waivers, consents, and amendment negotiations.
- Negotiate with debtors, sponsors, agent banks and other lenders to manage, workout and restructure challenged deals.
- Regularly report to immediate supervisor and Division Manager on borrower and regulatory rating changes.
- 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.
- Responsible for working out challenged loans through restructuring debt, negotiating settlement agreements, and/or collateral liquidation or loan sales.
- Provide assistance/guidance/direction to less experienced team members.
- Complete other related duties and participate in special projects, forecasting, and reporting, as needed.
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.
- Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, and bank lending guidelines.
- Experience with large corporate/leveraged and project finance lending, loan documentation and loan workouts required.
- Strong technical (credit and financial analysis) skills.
- Detail oriented, demonstrated ability to multi-task and manage team members.
- Strong written, verbal, presentation and interpersonal skills.
- Highly proficient computer skills including MS Word, Excel, PowerPoint, and financial statement spread technology.
- Ability to organize, multi-task, prioritize work and work effectively under adverse conditions.
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.
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. We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce.
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