Highly respected International Bank requires a Vice President for their Remedial Loans Unit.
The primary objective of on-going reduction of the group’s global impaired asset portfolio through pro-active asset management and disposals, practical work out and debt restructuring as well as portfolio monitoring through periodic reports from subsidiaries.
Maximise the NPV of recoveries at the minimum cost on impaired assets, while pro-actively managing exposures to ensure that in the event that the Bank decides to exit, that the most opportune timing is chosen and the most cost effective exit strategy is implemented.
As the primary Account Manager for impaired assets, manage the impaired asset portfolio by employing a variety of intensive remedial management and loan work out techniques to improve credit quality, maximize recoveries and reduce ultimate losses or costs to the Bank.
Participate and represent the bank in bank syndicates, creditor group meetings, Steering Committees and other forums established for co-
ordinated recovery action on large impaired asset exposures at a work-out or dissolution phase.
Prepare Annual / Interim Action Plan for administration of impaired assets managed by the Remedial Loans Unit.
Evaluate, negotiate, recommend, implement and monitor workouts including legal action, debt settlements, asset swaps, debt for equity swaps and disposals at best realizable values through private sale, public auction and secondary market trades.
Graduate degree / MBA, preferably in Finance and or Accounting subjects.
Extensive experience in banking required with significant years should be in holding a senior credit or remedial position, involving the hands-
on management of impaired assets.
Strong credit analysis skills, with experience and exposure to cash flow modelling and present value analyses, asset evaluation techniques, syndicated credits and Eurocurrency and Islamic loan documentation.
Well-developed credit / workout skills including an understanding of the major risk factors that impact on impaired assets in today’s changing financial and economic environment.
Sound comprehension of key banking law issues. Knowledge / experience of insolvency law, bankruptcy and litigation procedures in developed markets and the MENA region.
Excellent English language skills essential, plus Arabic and French language proficiency would be a distinct advantage but are not essential to the role.