Director, Special Assets

Capital One•McLean, VA

20h

About The Position

Director, Special Assets Capital One is seeking a Director level workout officer to provide leadership and loan workout expertise to a portfolio of distressed loans in Middle Market Banking including various sectors such as Food and Beverage, Healthcare, TMT, Industrials, Services and Government Contracting. The portfolio consists of a high concentration of leveraged loans and private equity backed borrowers. The candidate will independently manage a portfolio of criticized & distressed commercial loans with risk management and loss mitigation as primary objectives. S/he will determine strategies to maximize recoveries, evaluate customer relationships to determine a divestiture or retention plan, and clearly present updates on deal strategy and progress on resolution to the business senior leadership team. The ideal candidate has demonstrated ability and performance to: Leverage deep structure and credit skill to evaluate workout options; engage with legal counsel and weigh the pros and cons of various options. Quarterback workout process internally and externally. Leverage senior and legal resources to understand restructuring/workout options. Develop an overall workout strategy based on multiple possible outcomes and communicate that to clients and internal stakeholders. Evaluate external recommendations for amendments or restructuring and identify issues and recommend solutions. Be fully autonomous in communication to leadership, customers, and additional stakeholders; Lead successful communications of complex information (i.e. legal terms) to diverse and challenging audiences; tailor message to audience, express insightful opinions, use the right level of detail, demonstrate understanding of the big picture, and anticipate and address key questions/concerns; Communicate clearly where s/he stands with respect to a credit to all internal stakeholders; Set tone and establish mechanisms for open communications across deal teams, motivate associates in deal teams with positive reinforcement and/or constructive feedback as necessary. Be viewed as the voice of Capital One with external parties. Negotiate restructurings. Defend their view and engage in debate, despite objections by external parties. Take on the most complex transactions and/or portfolio accounts and lead them mostly independently; Informally (or formally) manage junior members of the team. Consider all key variables to determine, recommend and defend appropriate regulatory risk ratings. Serve as project lead on team projects; identify opportunities across the team and communicate/share best practices across Special Assets. Independently prepare financial analysis, draw conclusions from analysis, and implement those conclusions in their decision making. Understand the primary drivers of risk and can identify the more reasonable or actionable mitigants based on judgment. Use industry knowledge to balance the many forces impacting the outlook and use that to inform credit or portfolio strategy. Create and execute bespoke financial models & analysis to forecast outcomes. Negotiate and review credit documents across products; Identify key issues/risks in documentation and possible solutions. Review collateral analysis/discounted cash flow calculations and identify any issues/errors; Drive changes to assumptions when appropriate; Consider "what if" or sensitivity analysis and their impact on outcomes. Lead and direct the full loan impairment process including review of analysis and internal communication. Lead and direct the Watch and Criticized (WAC) process, establish the restructuring action plan. Serve in the review & approval role. Identify deficiencies in covenant packages, recommend alternatives or solutions and negotiate covenants. Identify process or interaction improvement opportunities; Regularly sought for input or viewed as a subject matter expert by partners across the organization. Determine ratings triggers that fully capture the components that should drive a ratings change. Review and identify deficiencies in a credit approval memo (CAM).

Requirements

Bachelor’s degree or military experience
Over 7 years of relevant commercial loan experience (underwriting, credit, asset management or workout)
At least 5 years of loan underwriting experience or 5 years of experience in loan restructuring

Nice To Haves

MBA or JD degree
At least 10 years of experience in commercial lending (see above) with direct experience in loan restructuring/workout

Responsibilities

Perform the duties of a loan officer and be responsible for the restructuring/loss mitigation of criticized and classified loans.
Be capable of applying credit officer, asset management and risk management disciplines.
Be proficient in commercial loan financial analysis and structuring, as well as valuation methodologies.
Lead legal documentation, loan covenants, rights and remedies in the event of default, receivership and bankruptcy scenarios, and restructuring strategies for Commercial loans.
Use expertise in Special Assets to ensure Capital One is leveraging the best practices of its peers and proactively evolving the policies and programs employed by the Bank.
Be capable of working closely with and influencing senior business and risk management leaders within the Commercial Bank when creating, revising or implementing Special Assets workout strategies.
Be comfortable leading their own portfolio of distressed loans autonomously.
Lead aggressive and comprehensive workout strategy to ensure optimal loss protection to the Bank in terms of both time and money, while maintaining compliance with regulatory requirements.
Negotiate and contract with various professionals such as attorneys, appraisers, brokers, etc. to provide services to ensure best cost/benefit return to the Bank.
Evaluate all financial information, collateral, legal documentation and other available information to project probable and maximum loss exposure to the Bank.
Lead processes improvements and implement best in class solutions, raising quality and productivity in a calculated way.
Lead criticized and watch list internal governance process for assigned portfolio and ensure compliance with all reporting and regulatory requirements.
Create a culture of sharing lessons learned within Special Assets and back to the origination functions in order to avoid future mistakes.
Benchmarks own performance against industry best practices.
Acts as consulting credit officer and risk management specialist on a portfolio of higher risk relationships with line of business/other departments.
Strong written and verbal communication competencies, in addition to financial analytical skills.