Skip to main contentA logo with &quat;the muse&quat; in dark blue text.
MUFG

Associate, Special Assets

New York, NY

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 6th largest financial group in the world. Across the globe, we're 160,000 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.

Want more jobs like this?

Get Software Engineering jobs in New York, NY delivered to your inbox every week.

By signing up, you agree to our Terms of Service & Privacy Policy.


Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
This is a hybrid position. The recruiter will provide additional details.

Job Summary:

We are seeking a Loan Workout Associate in our New York or Dallas office to service, monitor, and assist in managing a distressed, large complex corporate and project finance deals in our Global Corporate & Investment Bank (GCIB) loan portfolio. Primary objectives for this position are to assist in administering and monitoring a portfolio of challenged credits and assisting in the turnaround or exit of complex credit relationships through proactive management and restructuring efforts that may include liquidation of the Borrowers' assets, loan sales, or potentially providing ongoing financing. Special Assets Division's ("SAD") primary focus is to minimize losses and maximize recoveries. We are seeking candidates with strong credit skills, financial modeling experience and familiarity with loan documentation. Qualified candidates should have a background in credit analysis.

Major Responsibilities:

  • Support Senior Loan Workout Specialists who are responsible for managing challenged loan exposures.
  • Analyze Borrowers' and Guarantors' financial statements (including KPIs and 13-week cash flow reporting) and develop financial models with Senior Workout Specialists to: (i) measure and monitor operating and financial performance; (ii) adherence to financial covenants; (iii) determine ability to make debt service payments; (iv) analyze reason(s) for default/financial distress; (v) determine ability to turnaround operations to realize improved financial performance; and (vi) assess repayment ability and enterprise valuations under various restructuring scenarios.
  • Use aforementioned analysis / models to prepare timely borrower rating recommendations and maintain proper accrual status on SAD managed accounts with Senior Loan Workout Specialists.
  • Regularly prepare and submit reports to immediate supervisor, Division Manager, and others within Credit Risk Administration about actual/forecasted borrower rating changes that could impact capital charges or require a charge-off, as well as on matters that could impact deal/portfolio performance.
  • Assist in developing, documenting and implementing detailed action plans and workout strategies, including potential remedies, options, including legal actions challenged credits in our portfolio, and provide periodic status reports to senior management.
  • Assist in developing valuation models and written recommendations of action plans for challenged deals, including: (i) to hold a loan because of high likelihood for refinancing or repayment; (ii) various strategies for restructuring loans; or (iii) rationale for selling a loan to with the overriding goal being to optimize MUFG's position and loan recoveries.
  • Prepare and present written quarterly updates, analyses and remediation strategy recommendations to immediate supervisor, Division Manager, Bank Officers, and Committees.
  • Keep abreast of business and market trends that may affect deal/portfolio performance.
  • Comply with corporate policies, especially for loan provision and charge-off planning. Adhere to applicable compliance/operational risk controls in accordance with regulatory and Americas Risk Management standards and policies. Identify risk-related issues needing escalation to management.
  • Avoid lender liability issues and contain legal/professional expenses by holding parties accountable.
  • Complete other related duties and participate in special projects, forecasting, and reporting, as needed.
  • Review key terms and conditions of loan documentation for SAD managed accounts

Requirements:

  • Bachelor's degree in business administration, Finance, Accounting or related discipline.
  • Minimum of 2-3 years' experience in wholesale banking credit, rating agency, or turnaround consulting firm.
  • Knowledge of financial statement analysis, accounting principles, wholesale credit underwriting, and general bank lending guidelines. Preferred: Completion of a formal bank credit-training program.
  • Strong technical (credit and financial analytical) skills.
  • Proficient computer skills including MS Word, Excel, PowerPoint, Moody's or comparable financial statement spread technology, Bloomberg and S&P Capital IQ, etc.
  • Detail oriented and demonstrated ability to multi-task.
  • Strong written, verbal, presentation and interpersonal skills.
  • Ability to organize, prioritize work and demonstrated ability to work well with minimal supervision, interact with management and work within a team environment, as well as to work effectively under difficult conditions is critical.
  • Experience with wholesale lending, loan documentation and loan workouts.
  • Progress towards CFA designation is a plus

The typical base range for this role is between $100K - $120K 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

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/Affirmative Action 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.

#LI-Hybrid

Client-provided location(s): New York, NY, USA
Job ID: MUFG_Union_Bank-10058854-WD
Employment Type: Other

Perks and Benefits

  • Health and Wellness

    • HSA
    • On-Site Gym
    • HSA With Employer Contribution
    • Health Insurance
    • Dental Insurance
    • Vision Insurance
    • Life Insurance
    • Long-Term Disability
  • Parental Benefits

    • Non-Birth Parent or Paternity Leave
    • Birth Parent or Maternity Leave
  • Work Flexibility

    • Remote Work Opportunities
  • Office Life and Perks

    • Commuter Benefits Program
  • Vacation and Time Off

    • Personal/Sick Days
    • Paid Holidays
    • Paid Vacation
  • Financial and Retirement

    • Pension
    • 401(K) With Company Matching
  • Professional Development

    • Promote From Within
    • Mentor Program
    • Access to Online Courses
    • Tuition Reimbursement
  • Diversity and Inclusion

    • Diversity, Equity, and Inclusion Program