What are the responsibilities and job description for the Workout Officer position at Natixis?
Job Description
Main responsibility is to manage, in cooperation with the Business Lines and Credit Portfolio and Resource Management, distressed exposures of the bank with the view of maximizing recoveries and minimizing losses.
Requires interacting with borrowers / company executives, outside professionals (lawyers, financial advisors) and other financial institutions to evaluate workout situations and craft and deploy recovery strategies.
Work with business line units, risk / credit division, credit insurance and other departments in the bank to ensure proper account management, risk assessments and adequacy of provisions. Communicate impact of restructuring transactions to these units.
File presentations to Credit committees, Watch List Committees and senior bank executives on one on one basis also required.
- Manage assigned portfolio of problem exposures to maximize recoveries and minimize losses.
- Undertake financial analysis of obligors and counterparties, valuation of collateral and realization potential, strength of guarantees, to determine and assess recovery options. Advise on recovery strategies.
- Track market prices of exposures for those that are quoted in the secondary market.
- Report to group head on important file developments. Recommend and implement courses of action.
- Provide written opinions on all files in portfolio that are rated Watch List and which require Risk / Credit approval for modifications, amendments, waivers or sale.
- Attend Watch List and Credit Committees for exposures under management. Recommend provision levels on exposures with loss potential.
- Prepare various required periodic reports, work with Finance on Loan Accounting matters for deals that are restructured or sold in secondary market.
- Adhere to Compliance rules and complete required trainings in a timely manner.
The salary range for this position will be between $, - ,. Natixis is required by law to include a reasonable estimate of the compensation range for this role. Actual base salary will vary and will be based on several factors including, but not limited to, relevant experience, education, skills set, applicable licensure and certifications, and other business and organizational needs. Base salary is only one component of our total rewards package. Natixis also offers a generous benefits package, and you may be eligible for a discretionary incentive award depending on company and individual performance.
Required Skills / Qualifications / Experience
