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This is a hybrid position. The recruiter will provide additional details.
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.
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.
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