Credit Risk Management | Global Credit Risk | Credit Restructuring Officer - Associate | NYC
About ING :
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In Americas, ING's Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients.
When you come to work at ING, you're joining a team where individuality isn't just accepted, it's encouraged. We've built a culture that's fun, friendly and supportive - it's the kind of place where you can be yourself and make the most of whatever you have to offer.
We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We're here to help you get ahead. And with our global network, there's plenty of scope to take your career in new directions, perhaps even ones you've never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.
Sound like the kind of place you'd feel at home? We'd love to hear from you.
About the position:
The Credit Restructuring Officer will be assisting the Senior Credit Restructuring Officers - and where possible, work independently - in developing recovery strategies for classified loans and representing the institution in negotiations with borrowers and other lender classes to effectuate the successful implementation of our strategy.
The candidate will also be working with the Senior Credit Restructuring Officers in their interface with regulators and auditors, and will be participating in all the internal processes related to managing non-performing loans. While the candidate will operate under the supervision of the Regional Head of Credit Restructuring and alongside a Senior Credit Restructuring Officer, he/she is expected to also be capable of operating independently.
About the department:
Global Credit Restructuring (GCR) takes responsibility for finding solutions for large customers in difficulty, acting as the restructuring knowledge center for ING Bank. Our objective is to preserve principal, maximize recovery and determine a strategy which best benefits ING Bank and its customers. GCR is also responsible for ING Bank's Loan Loss Provisioning process.
Responsibilities :
• Evaluate problem credits from an economic, legal and relative priority perspective and recommend a course of action designed to maximize recoveries for the institution. This evaluation will be done in coordination with senior Front Office personnel who will form part of the deal team. These credits are complex, large in size (greater than $10 million) and cover all sectors covered by the institution's Wholesale Banking platform. Many of the credits are international in nature leading to cross border negotiations.
• Recommend appropriate risk ratings and collateral valuations based on credit specific and market conditions.
• Provide clear credit advice and decisions on proposals involving those credits assigned to you.
• On a quarterly basis, work with Senior Credit Restructuring Officers to recommend loan loss provision levels. This is done in a manner prescribed by the institution's Controls, Policies and Procedures related to such functions.
• Take a leading role in the monitoring and reporting requirements of the team with regards to internal and external auditors, collating and providing necessary information and assisting the central GCR team with ongoing data requests.
• On an ongoing basis, provide support in the development and improvement of our global and local policies and procedures relating to the responsibilities of the Credit Restructuring units, and in our reporting obligations.
• Participate in quarterly Watch List meetings for the purpose of providing insight on appropriate risk ratings and recommending the transfer of credits to the Restructuring unit.
Qualifications and Competencies
• Technical and practical knowledge of credit risk and/or transaction structuring and execution across various industries and transaction types including (1) Project Finance deals in the Energy and Infrastructure sectors; (2) Cash Flow deals in Acquisition Finance, Health Care, Media and Technology and General Industries sectors, and (3) Asset Based Lending deals across a variety of industries including Trade and Commodity Finance. Restructuring experience is not required but preferred.
• Performing financial statement modelling and analysis (including cash flow forecasting) based on GAAP.
• Functional understanding of IFRS 9 and its impact on the Loan Loss Provisioning process.
• A team oriented and collaborative approach; ability to establish credibility and manage through influence.
• Excellent presentation, communication and negotiation skills, including strong verbal and writing capabilities.
• A mindset that is positively challenged when working on multiple projects, under stress and with tight deadlines.
• A practical approach, focused on problem solving and coming up with creative solutions.
Education
• Degree in Business or a related field and at least 5 years of relevant work experience.
Salary Range $110,000 - $200,000
In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with working from home, commuting, and fitness.
ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to color, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.
ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.