Senior Specialist - Workout and Restructuring - CDB at Secondments

Job Advert Summary    

• To find innovative commercial restructuring solutions for Corporate Banking clients identified as in need of a proactive intervention to mitigate risk and prevent or minimise losses. To give technical expertise using the turnaround methodologies to develop, implement and monitor business rescue plan. To manage the end-to-end process of identified distressed Corporate Banking clients.

Minimum Requirements    

Preferred Minimum Education and Experience

• 3 years Business / Commercial Qualification (BCOM)
• 3-5 years Corporate Banking experience which includes:
• Corporate Finance/Banking deal structuring
• Structured trade and commodity finance
• Strong Financial and Credit Analysis and Assessment background
• Formulating business turnaround plans
• Evaluation of business restructures or workouts
• Managing turnaround of distressed clients.

Critical Competencies

• Microsoft Office
• Business Acumen 
• Legal procedures
• Deal structuring 
• Turnarounds, workout and restructuring
• Credit and Financial Analysis
• Credit assessment / evaluation

Additional Requirements

• Travel as and when required.
• Extended hours as and when required / Time management
• Willing to work outdoors
• Valid SA Driver’s License
• Stress management

Duties and Responsibilities    

Innovative restructuring solutions to Corporate accounts

• Obtain all the necessary and required information to conduct a full diagnostic analysis and undertake a preliminary due diligence and recommend procuring external due diligence where necessary and justifiable.
• Conduct research through engaging various stakeholders and sources to determine long term business and financial viability
• Conduct a business operation, industry and financial analysis of customers which have been identified for intervention
•  Critically review business plans, turnaround plans and business rescue plans to ensure that the bank’s interests are protected
• Establish the business needs and financial requirements through a needs analysis.
• Perform a security analysis to review and assess the Bank’s risk position to ensure that the Bank’s interests are protected at all times

Manage the implementation of the approved restructure of customer accounts

• Engage clients, all relevant internal and external stakeholders on the outcome of the restructure proposal.
• Negotiate an equitable deal considering the Bank’s interest.
• Gather all the necessary documents required in drafting the new agreements.
• Provide input to drafting loan agreements, equity agreements and security documents in collaboration with the Legal Team and in line with the approved Terms and Conditions by the various Credit Committees.
• Issue the client with signed agreements.
• Manage and coordinate the conclusion of any inter-creditor agreements.
• Check all conditions of approval (precedent) have all been complied with prior to disbursements.

Monitoring and Evaluation of restructured customer accounts

• Obtain management information from client within prescribed timelines, analyse and engage clients regarding performance variances ensuring that action plans are in place to close the gaps of any negative variances.
• Provide regular (as prescribed) performance status update for each client and represent the account at the various governance structures (EXCO, Credit Committee or Board).
• Provide portfolio and client information to Finance Division for consideration in impairment calculation.
• Make recommendations regarding a proposed change in strategy for the clients (e.g. debt to equity conversion, debt pardon, moratoriums, return to normal (retain), structured exit, business rescue proceeding/debt counselling, legal recovery and liquidation).
• Engage other 3rd parties where required to intervene (e.g. government departments, potential investors, other creditors, other lender, etc.).
• Undertake reviews (interim or annual) based on Management Accounts and Annual Financial Statements and business performance as prescribed by Bank’s credit policy or Credit Committee.

Provide advisory services to internal and external stakeholders where required.

• Provide advice and guidance to the Portfolio Performance Management teams and the Corporate Banking team with respect to the identification of client accounts that should be flagged for a workout intervention based on lessons learnt in managing high risk clients.
• Participate in the reviewing of policies and procedures where workout and restructuring subject expertise may be required.
• Accompany Corporate Banking team members on request to client meetings to provide support and expert opinion on possible workout and restructuring related issues, processes and procedures.
• Attend internal and external forums at request where subject expertise is required on turnaround, workout and restructuring matters.
• Engage in negotiations and discussions on Land Bank Corporate Banking client matters with third parties (other lenders, potential investors, Attorneys, Consultants, Business Rescue Practitioners, etc.).

Record Keeping and Reporting

• In consultation with Client Administration, Performance Analytics and Reporting, ensure that client information is managed in terms of the Bank’s record management policy.
• Compile reports as required for the different governance structures and management.
• Ensure that client’s information is updated on the relevant systems as and when required in collaboration with the Specialist: Compliance and Administration.
• Furnish various trend reports to various governance structures on matters that will potentially be worked out and those that are currently being worked out.
• Attend to audit findings providing corrective actions.