General Description

The Vice President will be responsible for directly managing or supporting Senior Recovery Managers in the management of Distressed Assets assignments in the Americas. The role offers great exposure to a variety of transactions (various Product lines/instruments, industries (Real Estate, Energy/Power / Project Finance, Corporate, Trade Finance, GMD products) and geography (USA, Canada, Latam) depending of the files assignments.

The individual will be responsible for a) directly managing simple, non-agented stressed / distressed files and b) assisting Senior Recovery Managers for most complex files on all aspects of Distressed Assets assignments including but not limited to the preparation of credit papers and periodic reviews (SAR), the financial (including modelling) and legal analysis, the structuring and day-to-day transaction management as well as liaising with internal departments (originating Business Lines, RPC, LGL, CPL, FIN/TAX as required) and participating in negotiations with borrowers and other lenders.

The individual should be autonomous, curious and detail-oriented with strong credit skills and an ability to switch from one assignment to another.

Key Responsibilities: 

Manage assigned stressed / distressed cases and assist senior Recovery Managers in the management of more complex stressed and distressed assets, including loans, trades and other investments, on both Syndicated participations and Agented transactions, with the goal of maximizing recoveries, minimizing losses and mitigating risk to the Bank. This includes:

• Analyze the problem situation, assess all legal and financial options, including in preparing financial models and running valuations, and devise suitable recovery strategies (in close coordination with the Senior Recovery Manager as the case may be) and if necessary external advisors (legal, financial, technical),
• Participate in deal teams (including originating Business lines, RPC (NY and ASD), LGL and others) in the structuration, negotiation and implementation of restructurings both in and out of court, in the Americas,
• Propose appropriate action plans, prepare credit papers and requests for loan restructurings and amendments to obtain requisite approval,
• Autonomously prepare periodic reports (Early Birds, Initial Risk Reviews, SARs, Annual reviews,  etc.), monitor files from performances and risk, make recommendations for rating changes and reserves and manage Bank systems as required to adequately reflect decisions made (amongst others DIAMS, CSD, Anomaly Workflow, Phidias, Eurecca, Anadefi, …)

Salary Range: $160k-$200k 

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Key Responsibilities (continued):

• Participate in and/or present files and requests to various committees (NY and HO SAR committees, NY Credit Committee, HO CRC…) as required,
• Manage closing/settlement for asset sales and/or residual/equity holdings for the DAS Americas group if required,
• Ensure smooth coordination with all relevant internal departments involved (DAS Middle Office team, Product line, RPC, LGL, CPL, FIN, Back office, …) both at local, regional and HO level as required.
• Prepare other reports and perform a variety of tasks as needed.
• Comply with all legal, regulatory and internal requirements

Requisite Skills

Portfolio encompasses stressed and distressed situations derived from all geographies in the Americas & product lines of the Bank, which requires a wide range of skills including:

• analytical skills (credit analysis, financial modelling including valuation (DCF, Multiples, debt sustainability, liquidity…), legal review),
• previous experience in Restructuring and Debt/Loan Capital Markets incl. familiarity with Liability Management concepts
• oral and written presentation skills in English, with French, Spanish or Portuguese a plus.
• previous experience in client-facing function with structuring and negotiation capabilities,
• very good knowledge of the bank products, internal organization (in particular with RPC ASD) and systems,
• good interpersonal skills, curiosity and willingness to learn,
• previous experience with external data providers systems (S&P Capital IQ, Bloomberg, Reorg Research, …) and with regulatory, financial accounting and/or tax issues would be a plus.