Workout Specialist
About The Position
The UMB Distressed Debt team is a highly experienced group of workout professionals. They take on distressed bond transactions as successor indenture trustee and apply their experience to maximize returns for the bond investors. The Distressed Debt team handles corporate, municipal and conduit financing transactions, with extensive experience working with healthcare, senior living, multi-family housing, charter schools, higher education, tribal casinos and some of the nation’s largest corporations. The Workout Specialist position will manage a portfolio of distressed and defaulted bond and loan accounts for which UMB serves as indenture trustee or loan agent. Workout Specialists work closely with a team of corporate trust professionals, outside counsel, financial advisors and bond holders and lenders. Job duties include: Investigate breaches and defaults of loan documents and, typically in close consultation with the bond holders and lenders, develop and implement case specific strategies to maximize lender recovery. Strategies may include (without limitation) negotiated forbearance from the exercise of remedies as well as foreclosure of collateral, litigation and participation in bankruptcy proceedings. Select and hire attorneys, financial advisors and other professionals to support their efforts. These efforts are made in a representative capacity in which UMB is obligated to act prudently in the interest of the bond holders and lenders. The role will develop close and collaborative working relationships to generate additional business opportunities. UMB Corporate Trust depends on the confidence of its clients; the Workout Specialist must always act at the highest level of integrity and honesty. Working in the Distressed Debt team at UMB can be strategic, challenging, and very rewarding. As a group we are independently serving clients, but we rely heavily on teamwork and shared knowledge to be successful as a unit. We perform at a high level for our clients and believe that relationships both internally and externally are key to UMB’s success. We pride ourselves on being a welcoming and positive space and teammates are always happy to share their knowledge and help those around them.
Requirements
- You have a bachelor’s degree or equivalent experience
- You have at least 7 years of relevant experience (i.e., Corporate Trust administration, default workout experience, etc.)
Responsibilities
- Investigate breaches and defaults of loan documents and, typically in close consultation with the bond holders and lenders, develop and implement case specific strategies to maximize lender recovery.
- Strategies may include (without limitation) negotiated forbearance from the exercise of remedies as well as foreclosure of collateral, litigation and participation in bankruptcy proceedings.
- Select and hire attorneys, financial advisors and other professionals to support their efforts.
- Develop close and collaborative working relationships to generate additional business opportunities.
Benefits
- Paid Time Off
- a 401(k) matching program
- annual incentive pay
- paid holidays
- a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage
- health savings, flexible spending, and dependent care accounts
- adoption assistance
- an employee assistance program
- fitness reimbursement
- tuition reimbursement
- an associate wellbeing program
- an associate emergency fund
- various associate banking benefits
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
