Risk, Credit Risk, Workout & Restructuring, Associate, London London, England
Job description
RISK
Our Risk division develops comprehensive processes to monitor, assess, and manage the risk of expected and unexpected events that may have an adverse impact on the firm. Risk professionals execute critical day-to-day risk management activities, lead projects, and contribute to the ongoing advancement of a robust risk management program. Effective coordination with executive management, business units, control departments and technology is critical for success.
WORKOUT & RESTRUCTURING TEAM
The Workout & Restructuring (W&R) team is a specialist group within Credit Risk (CR) that maintains primary responsibility (i) for managing the firm’s distressed and defaulted credit positions to maximize recoveries, and (ii) evaluating and structuring new transactions with distressed counterparties. Principal offices are in New York, Salt Lake City and London to ensure global coverage of the portfolio. All major industries are represented, including consumer and retail, natural resources, financial services, TMT and real estate. All major business lines are in scope, including Investment Banking, Asset Management Division, Global Markets and Private Wealth Management.
RESPONSIBILITIES & QUALIFICATIONS
Workout & Restructuring team members are generalists, and you will have the opportunity to work on a number of industries, including consumer, retail, healthcare, diversified industrials, natural resources, technology, media and telecommunications.
Role summary & responsibilities
- Conduct in depth counterparty credit analysis including review of industry fundamentals, financial strength, qualitative factors and likelihood of default
- Develop expertise in bankruptcy and distressed credit management. Participate in formulating workout strategies and approval discussions
- Work with senior credit/restructuring professionals, and in some case take the lead, to determine the firm’s risk appetite and appropriate reserve level for distressed counterparties
- Develop a thorough understanding of key fundamentals of credit underwriting including financial modeling/projections
- Draft transaction memoranda, expressing and supporting Credit Risk’s recommendations
- Escalate issues to Credit Risk senior management
- Monitor the performance of counterparties in the distressed Watch List portfolio, including adherence to terms and covenants, and repayments
- Act as a mentor for junior analysts in the team. Develop and manage relationships with other areas of the firm, including Investment Banking/Capital Markets, Sales & Trading, Operations, Collateral Management, Legal, Compliance, Technology
Skills & expertise required
- 4-6 years of experience within credit risk, leveraged finance, corporate banking with exposure to restructuring, distressed credit and recovery management, ideally within a large investment banking environment
- Strong academics with a bachelor’s degree at a minimum (1st class or upper second class)
- Strong communication, interpersonal and analytical skills
- Ability to work under pressure and meet tight deadlines
- Great attitude and ability to work in a team setting as well as on his/her own
