VP- Restructuring & Governance

 FAB, the UAE's largest bank and one of the world's most secure financial institutions, is dedicated to creating value for its employees, customers, shareholders, and communities. Through innovation, agility, and differentiation, FAB is committed to fostering growth. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry

JOB PURPOSE

PURPOSE OF JOB

Involve leading the Team managing the end-to-end banking relationship of the vulnerable portfolio focusing on exploring avenues, formulating strategies, leading the negotiations to maximize the prospects of recovery, identifying the resolutions, finalization of term sheets with covenants, Performing the due diligence,  monitoring & advising changes in provisioning for the potential cases

• To negotiate the restructuring of exposures to preserve the bank’s position and to maximize the prospects of recovery, after analysis of the file and of the relevant markets.
• To prepare credit applications as required containing detailed credit analysis and justifications for the restructuring being recommended.
• Initiate recommendation to upgrade /downgrade and monitor relevant IIS & SP.
• To ensure that credit decisions are documented correctly and that the day-to-day operations of the clients’ accounts are running smoothly.
• To engage suitable financial/technical /legal advisors through RFPs.
• To identify suitable treatment, options & optimum exit strategies.
• To obtain in principle consent from senior management.
• To negotiate with the client and obtain initial/final acceptance.
• To build tentative/final term sheet, negotiate terms & obtain sign- off from the client complying with bank’s approvals.
• To undertake full diligence. Make detailed recommendations for resolving situations based on your own analysis and any professional advice received.
•  To assist the team head with the execution of the team’s strategy and goals and accomplish set financial and qualitative targets.
• To conduct adhoc portfolio reviews of vulnerable sectors and provide proactive policy prescriptions.
• Assist with the portfolio stress testing and quarterly provisioning exercises.
• To monitor past dues, watch list and provisioning reports for potential new cases.
• Follow up, keep track, and report all recoveries.
• Scrutinize client’s financial performance.
• Monitor and test (restructuring) covenants on relevant due dates.
• Ensure that all general and information undertakings are adhered to.
• Monitor project milestones and costs and conduct periodical site visits.
• Meet the client on a regular basis to maintain relationship.
• Ensure completion of CPs and CSs.
• Monitor payments and repayments.
• Process drawdowns & obtain (external & internal endorsements as applicable)
• Ensure and follow regular repayments of interest and principal (both scheduled repayments & /or cash sweep)
• Collect and appropriate rental income/sales proceeds/share dividends/ other income assigned to FAB.
• Work with product partners to ensure all existing documents are perfected in accordance with the latest sanction and no late payments, no over dues, and no excesses over approved limits.
• Process stress testing on sufficiency of current provisioning & propose adjustments (if necessary).
• Spread financials on MRA and ensure that correct risk rating is reflected on all internal systems.
• Perform ongoing due diligence of our security to ensure all valuations are up to date and all security coverage ratios are met.
• Manage NPLs and impairments related to the vulnerable portfolio.
• Monitor and report the changes to provisioning requirements.
• Maintain proper follow up and coordination with legal department in case of legal action being pursued.
• Attend to legal and court calls and work closely with legally appointed accounting experts.
• Process applications for upgrade and removal from vulnerable portfolio once the case has been treated and proven to have returned to an acceptable healthy status.
• Ensure smooth hand over back to business unit

KEY ACCOUNTABILITIES:

• Ensure that functional and related strategic plans are developed and implemented, which are aligned with the vision and mission of the Group.
• Evaluate the existing problematic debt exposures to identify potential work out situations and default scenarios.
• Make recommendations on how the advances should be restructured to avert the possibility of default.
• Consider whether projects should be re-sized to protect the bank’s position.
• Overall responsible for upholding and monitoring compliance with prevailing rules and regulations with respect to identifying delinquent clients classifying them and calculating the necessary provisions. 
• Ensure that allocated client relationships are managed in a professional manner and that any operational issues are dealt with promptly.
• Keep senior management regularly informed.
• Produce & share lessons learned with Business and Risk as applicable.
• Other internal reporting as required.

Minimum Qualification

• Bachelor’s degree in Finance/economics or related discipline.

Minimum Experience

• 15 years’ relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the following function.
• Experience of loan restructuring/work outs during previous economic cycles
• Track record in loan asset management and monitoring
• Familiarity with both syndicated and bi-lateral lending
• Previous experience of both relationship management and risk
• Sensitivity to important client relationships