Loan Workout (Project Finance) - Director - SMBC
New York, NY 10172
About the Job
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
SMBC's Special Credit Group is looking for a Director to join the Project Finance team. Among other activities, the person will monitor and manage a portfolio of assigned distressed Project Finance credits and assist in the turnaround or exit of distressed credit relationships through proactive account management and restructuring efforts. The distressed Project Finance credits include but not limited to North America and LATAM infrastructure projects, the power projects and natural resources projects. Incumbent is also responsible for reserves reporting and account related admin matters."
The anticipated salary range for this role is between $180,000.00 and $220,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Objectives
The role’s responsibilities include but are not limited to the following:
- Continuously monitor and manage existing transactions, such as assign borrower rating, detailed action plans, exposure management strategies and account related admin duties
- Review and process of waivers and amendments, leading the preparation of credit applications, managing the credit process with the Credit Department and back office, performing any due diligence activities, and negotiating documentation.
- Keep abreast of business and market trends that may affect deal/portfolio performance.
- Prepare periodic reports and information pertaining to the account for senior management. Pro actively escalate operational risk, loss events to management if applicable.
- On a quarterly basis analyze and report reserve/write-off calculations complying with both US GAAP and JGAAP, assign proper accrual /non-accrual status, and handle credit cost forecasts
- Prepare materials for regulator examinations, external and internal audits.
Objectives Cont.
- Ensure compliance of all internal and external matters in accordance with banking regulations, bank policy and best practices.
- Undertake ad hoc tasks and projects as required and assigned.
- Provide mentorship and guidance to deal team members and give guidance and feedback. Help train junior members of team.
Experience and Education
Work Experience:
- 9+ years’ experience in project finance credit underwriting or portfolio management at the financial institution or the turnaround consulting firm
- Experience in negotiating term sheets and project finance documentations
Education:
- Required: BA / BS in Finance, Accounting, Business Administration, or a related filed
- Preferred: MA / MS / MBA
- Formal credit training preferred
- Workout experience preferred
Qualifications and Skills
- Deep understanding of project finance, infrastructure finance, structured finance, loan sales & syndication.
- Proven analytical and financial modeling skills and experience with review and negotiation of project financing documentation.
- Proven credit analysis skills and track record; ability to efficiently analyze a vast and complex amount of information to quickly identify the key risk factors of highly structured transactions and draw from extensive knowledge of transactions to identify solutions.
- Knowledge in regulatory framework in region and fully versed in internal policies and procedures.
- Excellent communication and presentation skills both written and verbal; proven ability to present and negotiate externally with clients and key industry contacts and internally with senior management and other departments.
- Ability to build and maintain a strong network of relationships across the Bank to support and facilitate communication and/or execution of restructuring transaction.
- Demonstrates a high degree of attention to detail and an ability to complete work accurately and in a timely manner against strict deadlines.
- Self-driven and motivated; takes personal ownership of specific assignments.
- Demonstrates leadership ability to lead an amendment or a restructuring, and can provide mentorship, guidance, training to junior colleagues on the team.
Additional Requirements
D&I Commitment
Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.
SMBC’s employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.