Manager International Restructuring & Distressed Debt
Job Description
Essential Duties & Responsibilities by Dimensions:
A. Shareholder & Financial:
Performed tasks assigned, and meet stated performance goals and objectives, set by Head of Group International Restructuring & Distressed Debt subject to compliance with relevant regulatory rules and regulations and industry best practices to protect the best interests of the bank and to ensure efficient and effective process flow of the Department's functions, and with the objective of minimizing risks and optimizing profits.
Implement Group's Credit Risk Strategy and Credit Policies and procedures related to management of international restructuring for approval by the Credit Committee, and ensure adherence to such strategy, policies and guidelines.
Ensure the use of best industry practices and standardized market processes for managing International Restructuring accounts.
Meet / comply with Key Performance Indicators (KPIs) approved by Group Chief Credit Officer. Meet / comply with stated specifications and standards as specified in the Department's SLAs particularly adherence to the Turn-around Times (TAT).
Ensure that the Group's best interests are given utmost importance when managing the remedial process, reviewing and recommending credit restructuring proposals, and assessing and recommending loan loss provisions, by applying the most updated and relevant international best practices and highest industry standards in credit risk due diligence and assessment.
– Implements KPI's and best practices for Manager International Restructuring & Distressed Debt
– Promote cost consciousness and efficiency and enhance productivity, to minimise cost, avoid waste, and optimise benefits for the bank.
– Act within the limits of the powers delegated to the incumbent.
B. Customer (Internal & External):
– Maintain good relationship with the customer (as much as possible) and ensure prompt, proper and frequent communication and interface is made with assigned customers at an early stage (including site visits, as and when deemed necessary) to clearly articulate the bank's strategy and expectations for early repayment; commence re-structuring, collection and settlement efforts; and prevent accumulation of overdue balances of unpaid loan principal and interest.
– Conduct face to face meetings and negotiations with customers, and other stakeholders [legal advisers / other creditors] for preparation, negotiation and execution of bank's remedial / work out strategy and agreement.
– Coordinate activities with relevant Group business units to ensure the efficient management and monitoring of international restructuring accounts and ensure performance of required tasks, Build and maintain strong and effective relationship with all concerned units, as well as external third party professionals, legal consultants, government officials, etc. to achieve the Department's goals and objectives.
– Assist in advising the bank's Legal personnel of all cases assigned to the Department, and provide them with relevant legal documentation related to the exposure as early as possible so that timely action (including but not limited to undertaking of comprehensive legal documentation and security review, and initiation of [civil / criminal] legal proceedings) can be initiated to protect the bank's interests, avoid further deterioration of the account and or initiate early rehabilitation and recovery of the NPL.
– Closely monitor the progress of civil / criminal legal actions filed against defaulting customers through liaison with the Legal personnel [and the state police authorities if such is necessary].
– Recommend engagement of competent and reputable external debt collectors to augment overdue loans collection efforts, especially for complex cases and overseas defaulters overseas, and manage the relationship by ensuring the existence of a process whereby timely and updated information regarding defaulting / absconding customers is provided to them to help the agencies in their efforts to track such customers; and in turn periodic collection status reports are given to the Department to update us on developments.
– Review timely and accurate information concerning the bank's International Restructuring portfolio and collection progress status reports to the Group Chief Credit Officer and concerned Senior Management, the internal and external auditors, and Group's Compliance and Legal functions, relevant regulators, as and when required.
C. Internal (Processes, Products, Regulatory):
Know, understand and implement the Group's Credit Policies and Procedures and directives set by the Credit Committee and Group Chief Credit Officer.
Comply with prescribed guidelines and procedures related to International Restructuring processes. Continuously improve and streamline the various credit processes and procedures of the bank to ensure more efficient and productive management of International Restructuring accounts.
Maintain full knowledge and understanding of all International Restructuring cases assigned including reviewing all customer and deal information available, and assessing the true status of the customer's business. Conduct thorough assessment and due diligence to be able to recommend / or adjust if necessary, the most appropriate and feasible remedial / work out strategy and be formulated.
Conduct comprehensive legal documentation and security / collateral review, in coordination with Legal counsel to assist in building up bank's case against the customer and formulating bank's re-structuring / collection strategy.
Maintain close links with market intelligence to quickly respond to identified risk issues and potential problems. Collect updated information on the customer by conducting comprehensive checking with all possible resources including QCB Credit Bureau, other bankers, suppliers, buyers, competitors and other relevant third parties [without duplicating checking already made by the Early Warning officers]. Keep close tabs and follow up on customer activities and whereabouts through communication with such customer's employer, Telecommunication companies, Ministry of Interior information centers, credit bureaus, etc.
Conduct review to update collateral [real estate and movable assets] values and mark to market values of securities pledged if any, as per bank's required procedures; and assess the liquidity of such collateral to estimate recovery potential upon liquidation scenario execution.
Based on information obtained, formulate and prepare Recommendation for Re-structuring / Re-scheduling / Work out strategy with the best interests of the bank in mind, to be approved by Group Chief Credit Officer and Group Credit Committee, and ensure prompt and efficient negotiation, formulation and finalization of re-structuring / re-scheduling agreement with defaulting clients.
D. Learning & Knowledge:
– Maintain up to date knowledge and understanding of all pertinent local and international regulations as well as best industry practices pertaining to the overall credit operations, including of QCB, as well as other relevant international market, regulations and guidelines to ensure that a sound environment for identifying, assessing, measuring, monitoring and controlling Credit Risk is in place.
– Constantly research and keep abreast with current local and international industry, market and regulatory developments and issues that will directly or indirectly affect credit and risk taking activities of the bank including but not limited to the credit approval process, credit administration processes and the credit risk exposure of the Group.
– Possess good knowledge and understanding of credit risk management best practices and of business processes and controls in all related credit/ operational areas.
– Maintain close interaction and coordination and hold frequent meetings with different business units within the Group involved with risk and credit matters for better understanding and assessing of the risks of the Credit Portfolio.
– Attend required training courses and meet training objectives.
– Proactively identify areas for professional development of self and undertake development activities.
– Seek out opportunities to remain current with all developments in professional field.
Education & Experience Requirements:
– University graduate preferably with a Major in Banking, Finance, Accounting, Economics or other related field of study.
– Master's degree or equivalent banking related training or Professional certification preferred.
– At least 8 years of relevant experience, preferably within a highly rated international bank [or other comparable financial services or consultancy company] in a corporate or risk function
– Minimum 4 years in international restructuring and function.
If you are interested please apply with a copy of your CV or send your CV directly to [Confidential Information] mentioning the job title in the subject for immediate consideration.
Job Details
Employment Types:
Full time
Industry:
Banking / Accounting / Financial Services
Function:
Finance & Accounts , Banking
Roles:
Other Banking
Skills:
Restructuring Banking
Education:
Bachelor's Degree Master's Degree
