Senior Loan Workout Specialist, Vice President

MUFG Senior Loan Workout Specialist, Vice President in Los Angeles, California

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

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.

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.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.

We are seeking a Senior Loan Workout Specialist, Vice President in our 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:

1. Independently monitor and manage each credit assigned to Special Assets Division (“SAD”) (including complex, multi-bank syndicated credits).
2. Administer the turnaround or exit of complex credit relationships through proactive management and restructuring efforts that may include: a liquidation of the Borrowers’ assets, loan sales, or potentially providing ongoing financing.
3. Proactively monitor deals and assign timely internal ratings and reporting.
4. Assist Division Manager in special projects, as requested, including providing on-the-job training for junior staff members assigned as backup on certain accounts.

SAD’s primary focus is to minimize losses and maximize recoveries. We are seeking a seasoned banking officer with strong credit analysis skills, cash flow modeling, loan workout and management experience and familiarity and experience negotiating loan documentation. Qualified candidates should have a background in solving credit problems, as well as working well with both internal and external constituents often with divergent competing priorities.

Essential Duties and Responsibilities:

1. Manage an assigned portfolio of challenged corporate credits (wholesale corporate and project/structured financing, both domestic and international, across a broad range of industries) and independently manage respective workouts.
2. Analyze Borrowers’ and Guarantors’ financial statements (including key performance indicators (“KPIs”) 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 corporate valuation analysis utilizing various methodologies; (vi) assess repayment ability under various restructuring scenarios; (vii) structure/underwrite waivers, consents, amendments, restructurings and forbearance approvals and agreements.
3. Use aforementioned analysis to prepare timely borrower and regulatory rating recommendations and maintain proper accrual status on each account.
4. Regularly prepare and submit reports to immediate supervisor, Division Manager, and others within Credit Risk Administration about actual/forecasted borrower/regulatory rating changes that could impact capital charges or require a charge-off, as well as on matters that could impact deal/portfolio performance.
5. 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.
6. Provide recommendations on appropriate action plan 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 MUFG’s position and maximize loan recoveries.
7. Review key terms and conditions of loan documentation. Negotiate enhancements as applicable.
8. Prepare and present written quarterly updates, analysis and remediation strategy recommendations to Division Manager, Bank Officers, and Committees.
9. 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.
10. Work with in-house and outside legal counsel, as appropriate, for waivers, consents, and amendment negotiations and documentation drafting.
11. Negotiate with debtors and bankers to manage, workout and restructure challenged deals to improve credit quality, restructure or sell loans, in a cost-effective manner, to minimize potential losses while maximizing returns to MUFG.
12. Regularly report to immediate supervisor, Division Manager, and others within Credit about actual/forecasted borrower rating changes that could impact capital charges or require the need for a charge-off, as well as on matters that could impact deal/portfolio performance.
13. Keep abreast of business and market trends that may affect your deals and portfolio performance.
14. Understand and adhere to MUFG’s risk and regulatory standards, policies and controls. Identify risk-related issues needing escalation to management.
15. Comply with corporate policy especially for capital cost/provision planning and charge-offs. Adhere to applicable compliance/operational risk controls in accordance with MUFG or regulatory standards and policies.
16. Responsible for working out challenged loans through restructuring debt, negotiating settlement agreements, pursuit of appropriate legal action and/or collateral liquidation or loan sales.
17. Avoid lender liability issues and contain professional expenses by holding parties accountable.
18. Provide assistance/guidance/direction to less experienced team members. Responsible for performance management, staffing, training and development of junior Workout Officers.
19. Complete other related duties and participate in special projects, forecasting, and reporting, as needed.

Qualifications (Education, Experience, Skills):

1. Bachelor’s degree in Business Administration, Finance, Accounting or related discipline; MBA preferred.
2. Minimum of 3 years of workout experience on complex wholesale credits or 3 years of experience at a turnaround consulting firm.
3. Thorough knowledge of financial statements/analysis, accounting principles, wholesale credit underwriting, financial statement analysis, and general bank lending guidelines as evidenced by 7+ years as a wholesale banker in a regulated bank and through completion of a formal bank credit training program.
4. Quantitatively based with strong technical (credit and financial analysis).
5. Detail oriented, demonstrated ability to multi-task and manage team members (internal and external constituents).
6. Ability to effectively negotiate appropriate exit or remediation strategies with borrowers, their counsel, and any other outside vendors/individuals that play a role in the loan workout process.
7. Strong written, verbal, presentation and interpersonal skills.
8. Highly proficient computer skills including: MS Word, Excel, PowerPoint, Moody’s or comparable financial statement spread technology, Bloomberg, FactSet, etc.
9. Ability to organize, prioritize work and demonstrated ability to work with minimal supervision, interact with all levels of management and work within a team environment, as well as to work effectively under adverse and sometimes hostile conditions is critical.
10. Experience with wholesale lending, loan documentation and loan workouts is a must.

Preferred Qualifications:

1. MBA or CFA designation.
2. Bankruptcy Code knowledge and experience.

The typical base pay range for this role is between $155K - $190K 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.

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.

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 Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business.

At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative.

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