Senior Restructuring Specialist recruitment

A new role has arisen within a prestigious and award winning UAE bank, based in Abu Dhabi.

Key Responsibilities
This is a new position in the Department reporting to the Head. It aims at strengthening the workout expertise of the existing team of 6 staff, thru either hands-on management or coaching and sound-boarding as applicable. The Specialist will primarily be in charge of the restructuring process for the Bank of a selected portfolio. These may involve rescheduling, settlement, lending new money, debt-to-asset swap, liquidation, foreclosure and related court actions. The Specialist will develop in cooperation with the relevant SARD staff an initial restructuring plan for each NPL to address the most pressing issues, ensure timely execution and hands-on monitoring. The team will liaise with in-house counsel and/or remedial specialist from the Bank as the case may require litigation. Principal ongoing responsibilities will include:

• formulating and structuring sustainable restructuring strategies that will maximise the return to the Bank and, where possible, provide for the underlying businesses to continue as viable entities;

• managing selected positions with the aim of optimising recoveries thru asset realisation, liquidation or foreclosure, and other measures necessary to exit relationship;

• restoring projects to acceptable risk ratings thru additional security and/or control of cash flows;

• coaching SARD staff in restructuring or insolvency best practice;

• acting in an advisory capacity on operations requiring restructuring skills in cases where assets in potential distress are still managed by the Business;

• conducting negotiations with borrower companies, other lenders, syndicate members, and other equity providers as required;

• co-ordinating and managing resources provided by legal firms and advisors;

• assisting the Heard of SARD with the strategic direction and operational goals for the department; as well as with the knowledge sharing and staff coaching;

• Developing and maintaining contacts with relevant banks, advisors, lawyers, insolvency practitioners, etc. may be deemed useful to support the unit’s activities.

• Position will also carry people management responsibilities within the bank.

• Will also require the usual focus on administrative issues that go hand in hand with a normal credit process.

• To deputize for the Head of SARD if required or to act on his behalf.

The Senior Banker will be expected to travel extensively to meet borrowers in Abu Dhabi and Dubai.

Essential Skills, Experience Qualifications
The successful candidate will be a mature individual who will probably have 10 years or more managerial experience in a financial institution or restructuring practice, where he/she will have acquired strong restructuring and insolvency skills and deal execution experience. It is expected that he/she will be able to demonstrate:

• experience in restructuring/work out situations;

• substantial experience of structuring complex transactions;

• knowledge and experience of dealing with corporate insolvency;

• commercial acumen/business judgement: the ability to focus on the bottom line and rapidly size up projects, understanding the impact of all likely actions on the business and to determine the likely range of success and the feasibility of recovery;

• understanding of banking regulation: the ability to assess restructuring avenues and their impact on the Banks’ bottom-line, loan classification and provision requirements;

• valuation experience or experience in managing equity vs. lending positions, creating or preserving shareholder value, seeking fair burden sharing and adequate reward for the Bank;

• experience of working in a GCC country would be a plus;

• appropriate university degree, minimum BA in Finance or equivalent (MBA, a plus);

• fluency in English is essential, both spoken and written, as well as computer proficiency (especially Excel, PowerPoint and Word).

Competencies Personal Attributes
The successful candidate will be expected to demonstrate:

• leadership skills: to be able to provide immediate leadership on a deal-by-deal basis with the ability to focus on both long term and short term goals;

• team skills: a collegiate approach with excellent coaching and interpersonal skills to lead, guide and motivate others;

• excellent written and oral communication skills: with the diplomatic abilities to gain acceptance, support and commitment to the Bank’s point of view as well as firmness and strong negotiating skills which are essential for dealing with a wide variety of people at a high level both inside and outside the Bank;

• a results-based orientation: with the ability to establish clear goals and objectives for the team and self;

• a proactive, clear thinking, flexible and creative attitude, able to lead transactions and act as the principal customer interface, managing expectations as necessary;

• an energetic and enthusiastic approach to problem solving and a willingness to explore less obvious routes to recovery even when substantial barriers exist.