PERM - Credit Risk Management - Structured Credit - Vice President

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

Background

SMBC is establishing a new Work Out function to strengthen 2nd Line of Defence in relation to Problem Assets.  We are looking for a candidate with a minimum of 5 years of experience working in a major financial institution or relevant experience with a ratings agency covering project finance, real estate, shipping and aircraft work-out.  

Purpose of Job

• Mainly supervision of accounts with Problem Assets for Structured Credit.
• Review and challenge within a Level 2 function of front office proposals around Problem Assets. 
• Work with, advise and challenge Front office in the development and implementation of workout strategies for Problem Asset Credits, including restructuring, recovery, asset sales, and debt for equity swaps to reach workable solutions that preserve value and protect the bank’s interests.
• Develop procedures, governance for identification and monitoring of problem assets including early warning indicators and triggers for referral to Special Credit Review forum.

(New Deals / Non-Problem Assets Accounts)

• To undertake risk evaluation of proposals in connection with primarily project finance credits including their monitoring and covenant waivers.
• Provide guidance to front office in ensuring a consistent credit approach covering procedures, risk and mitigation articulation and risk appetite guidance to expedite balanced decision-making.

Organization structure is under discussion: VP is reporting to ED in Structured Credit for a time being but reporting organization might be restructured.  VP position might be transferred to once Work Out Team is newly established within SMBC EMEA responsible for overseeing the control and supervision of Problem Asset exposures within SMBC EMEA including SMBC EU Bank and SMBC Bank International.  

Business Area

Business Area

Structured Credit in the Credit Department is responsible for the risk evaluation of financing proposals across EMEA in connection with project finance, asset acquisition financing (clients acquiring a stake-holding in an operational asset), asset finance (aviation, shipping and real estate) and related derivatives. 

Facts / Scale

• Main interfaces/relationships; New MD in work out function, Joint General Manager, Senior Credit Officers and team members of Structured Credit team (Project Finance, Real Estate, Shipping and Aircraft), Front Office portfolio teams and wider business in context of Special Credit experience
• CDED balance sheet coverage of approx. $170bn
• c 30 problem Assets and c110 Intensive Care Assets of which c50% are Project Finance, Real Estate and Asset Finance.

Position Description

Focus will be (but not limited to) Problem Assets in Structured Credit.

Position Description

Jobholder will have primary responsibility for:

• 1) Handling deteriorating credits and other problem situations;
• 2) proactively monitoring obligors within an assigned portfolio;
• 3) assessing and challenging transaction material provided by the front office;
• 4) conducting appropriate credit and financial risk analysis;
• 5) preparing highly analytical, succinct and well-articulated credit papers with recommendation to approvers;

• Attend Special Credit meetings, collaborate with colleagues from relevant departments to develop practical solutions for problematic cases.
• Provide guidance to front office in ensuring a consistent credit approach including procedures, risk and mitigation articulation, and risk appetite guidance to expedite balanced decision-making.
• Maintain good relationships with origination, front office credit and portfolio management teams to foster a supportive and collaborative culture.
• Conduct a credit cost forecast, update and report to key stakeholders including Tokyo HQ.

Problem Assets: Assets in a restructuring / work out process:

• Presentation of credit view on restructurings, new money, debt for equity, sale write-off etc in approval meetings to Board (SMBC BI DAM/SMBC CCRM, EU Bank).
• Monitoring of the restructuring measures and if required, adjustment of the measures
• Assessment of forbearance, default, Unlikeliness to Pay and non-performing status including monitoring and IFRS9.  Responsible for assessment of stage 3 risk provisioning.
• Loan Recovery: When no viable forbearance solution has been found, challenge front office in assessment of the defaulted loan, including analysis of different liquidation options; review of collateral evaluation; maintenance of appropriate provisioning; and management of the procedures related to bankruptcy/liquidation, loan sale, foreclosure of collateral.  Work with legal teams especially in the context of loan recovery.
• Review the obligor grade, facility grade, self-assessment result and provisioning for individual customers or credits.

Description cont.

Knowledge, Skills Experience & Qualifications

We are looking for a candidate with a minimum of 5 years of experience working in a major financial institution or relevant experience with a ratings agency covering project finance, real estate, shipping and aircraft work-out:

• Professional in restructuring, work out teams likely to have been gained from a market leading bank etc.
• Good understanding of credit structuring, loan documentation, insolvency laws and regulatory requirements.
• Strong negotiation, analytical and problem solving skills.
• Degree level education and / or relevant professional qualifications (eg: ACA, ACCA, ACT, CFA), with appropriate credit training (both on the job and formal courses)

Also, candidate is expected to have below for new deals / Non-Problem Assets Accounts and in general;

• Good knowledge of lending structures encompassing appropriate risk factor identification, cash-flow analysis, stress-testing as well as familiarity with documentation / market trends.
• Good communication and excellent written skills for preparing succinct and well-articulated credit papers.
• Capability to take a transaction from inception to approval without significant supervision.
• Flexibility to work to tight deadlines under pressure including working outside of contracted hours from time to time.
• Sound interpersonal skills, supporting collaboration / team work / the Bank's Diversity & Inclusion values.

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!