To actively support the Group Head of Remedial Loans Unit (RLU) in the primary objective of on-going reduction in ABC Group’s impaired assets portfolio through (i) proactive asset management and disposals, practical workout and debt restructuring, (ii) primary account management responsibility for assigned impaired assets at Head Office, (iii) portfolio monitoring through periodic reports from units/subsidiaries and (iv) engagement in advisory and co-lead capacity on Stage 2 accounts.
The Bank is organized along the three lines of defense operating model. The Remedial Loans Unit under Group Credit is part of the control function in the second line of defense.
The job responsibilities are described in more detail below.
Principal Responsibilities, Accountabilities and Deliverables of Role:
- As the primary Account Manager for impaired assets delegated to him/her, proactively manages the impaired asset portfolio by employing a variety of intensive remedial management & loan work out techniques to improve credit quality, maximize recoveries/reduce provisions and reduce ultimate losses and costs to the Bank.
- Participates and represents the bank in bank syndicates/creditor group meetings, steering committees and other forums established for coordinated recovery action on impaired asset exposures in a work-out and/or bankruptcy phase.
- Prepares Annual/Interim Action Plans and Group Credit Committee (GCC) submissions for administration of impaired assets managed by the RLU.
- Evaluates, negotiates, recommends, implement and monitors workout and recovery exit strategies approved by the GCC, including legal action, debt settlements, asset swaps, debt for equity swaps and asset disposals at best realizable values through private sale, public auction and secondary debt market trades.
- Reviews Annual/Interim Action Plans required to be submitted to the GCC/Board by all ABC Group units for the administration of impaired assets, including a critical evaluation of Action Steps and recommended/possible Exit Strategies.
- Assist RLU colleagues in ensuring the timely submission and accurate compilation of all periodic reports submitted by the RLU to ABC senior management, Board Committees and the Central Bank of Bahrain and where appropriate external rating agencies with responsibility for evaluating the submissions from each of ABC Group units.
- Engagement on Stage 2 names in shadowing/advisory/co-lead capacity.
Job Context (Circumstances & environment surrounding the job):
The RLU is responsible for assessing all possible outcomes with the aim of identifying, quantifying and minimizing the loss that could be incurred on impaired assets at the ABC Group level. This normally requires extensive research and investment of time. The jobholder reports directly to Group Head of Remedial Loans Unit and interacts closely with the Remedial Loan Units, Relationship Managers and C&RG department at other ABC Units and at other Banks and with the obligors.
The primary challenge in this job is to maximize the net present value of recoveries at the minimum costs 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.
- Good knowledge of credit, risk, trade finance and key aspects of legal documentation.
- Good knowledge of corporate and bank balance sheet analysis techniques.
- Sound comprehension of key banking law issues. Knowledge/experience of insolvency law, bankruptcy and litigation procedures in developed markets such as UK, US or Europe and the MENA region.
- High level of numerical accuracy with excellent PC skills and advanced EXCEL spread sheet knowledge
Education / Certifications
Master’s degree, preferably in finance and or accounting subjects
- At least 10 years’ experience in the banking sector with minimum 4 years of experience managing impaired exposures, preferably with an international bank demonstrating some mobility and diversity in cultural awareness.
- Strong credit and cash-flow 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.
- Effective negotiation and analytical skills. Ability to work long hours (where required) with Lawyers and Accountants in complex debt restructuring, where multi-stakeholders are involved.
- Excellent English language skills essential for presentations in English plus Arabic and French language proficiency would be a distinct advantage but are not essential to the role.
Work as team member, good communication and presentation skills, reliable with integrity and transparent and open.