Workout Officer

About the Role

The Workout Officer will assist and back up a Senior Workout Officer, particularly on intense or representative restructuring cases, with the goal of acquiring the skills needed to progressively take responsibility for some exposures under senior supervision. Additionally, the role involves taking responsibility for one or more transversal topics for the team.

Responsibilities

• Maximize recoveries and minimize losses on problem assets in accordance with bank policy, covering both debtor risk and counterparty credit risk.
• Work with counsel to manage litigation risks, minimizing reputational and financial impact to Societe Generale (SG).
• Manage problem asset strategies, workout negotiations, and restructuring and exit strategies, including regular evaluation of intrinsic values of problem asset collateral, enterprise valuations, and monitoring of secondary distressed debt markets.
• Partner with the First Line of Defense to provide strategic advice on recovery and restructuring of exposures.
• Manage agented files in partnership with the First Line of Defense to steer creditor groups toward maximizing recoveries and coalescing around strategies.
• Coordinate with counsel (internal or external), financial advisors, technical advisors, and creditors to develop cohesive strategies.
• Ensure appropriate diligence, sound judgment, and adherence to SG US Credit Risk Policy, Default Management Policy/Procedure, and all regulatory requirements.
• Analyze and evaluate the need for provisions at least once a year; propose and substantiate recovery analysis to feed SG systems calculating provisions.
• Perform valuation analysis to assess recovery expectations in line with internal guidance.
• Ensure LGDs, ratings, and classifications accurately reflect the current risk profile of each relationship in accordance with regulatory and bank policies.
• Keep the Head of Asset Restructuring & Recovery Management informed of all substantial developments.
• Communicate effectively with external parties (agents, participants, counsel, clients) and internally with peers and senior management.
• Ensure timely communication of material information and coordination of workout activities internally.
• Support fellow team members and participate in team backup as part of an integrated team.
• Contribute to the development of default management and credit policies, documentation and reporting standards, systems requirements, and training programs.
• Continuously review processes for automation, machine learning, or other streamlining methods.
• Respond to information requests from ARM Group Head, senior management, head office, regulators, and internal/external auditors.
• Elevate compliance-related issues as soon as identified.
• Maintain a working knowledge of industry developments and best practices through external research and industry group participation.
• Prepare closing memos with “lessons learned” upon completion of workouts.
• Act as a center of excellence and advisory resource on all problem asset issues, including advisory work with Watch List names.
• Participate in SG Committees as required by the ARM Group Head.
• Work on special projects as assigned.

Requirements

• Experience in risk management or credit analysis at origination or for portfolio management.
• Credit skills and experience with loan documentation.
• Ability to deliver as a team player in a fast-paced and potentially hostile environment.
• Strong communication skills (written and oral), including the ability to communicate effectively and succinctly to senior audiences.
• Ability to learn quickly and form fact-based judgments despite uncertainties.
• Strong working knowledge of US regulatory guidelines and internal policies.

Qualifications

• BA or BS (required).
• CFA, MBA, or JD (desired).
• Completion of a formal bank credit training program (desired).

Skills

Preferred:

• Experience managing distressed assets, including debtor, counterparty credit, and clearing risks.
• Experience leading steering committees.
• Experience working with debtors, lenders, and other creditors in bankruptcy, restructuring, and foreclosure.
• Familiarity and proficiency with FRB regulations related to criticized and classified assets, leveraged lending, and best practices in problem asset management.
• Knowledge of European Central Bank regulations for problem assets.
• Working knowledge of Internal Accounting Standards related to impaired assets.

Language

• English (required).
• French, Spanish, or Portuguese (desired).