Director, Special Asset Management

Job Title:

Director, Special Asset Management

Corporate Grade:

D

Reports to (Line Manager's Job Title):

Direct Reports (if applicable):

None

Business Area:

Special Asset Management

Department/Function Level 1:

Risk

Department/Function Level 2:

Primary Location:

New York (745 Seventh Ave)

IAR Role

No

Regulated Role

No

Contractual Legal Entity - Please refer to link below for legal and regulatory requirement.

https://confluence.barcapint.com/display/COOSRVCOSM/Strategic+Projects

BX

Barclays Overview

Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

We are an equal opportunity employer and we are opposed to discrimination on any grounds.

Working Flexibly

We're committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business. Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers' and clients' needs. Whether you have family commitments or you're a carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life. If you would like some flexibility, then please discuss this with the hiring manager, and your request will be reviewed subject to business needs.

Hybrid Working

We are currently in the early stages of implementing a hybrid working environment, which means that many colleagues spend part of their working hours at home and part in the office, depending on the nature of the role they are in. We're flexible on how this works and it may continue to change and evolve. Depending on your team, typically this means that colleagues spend a minimum of between 20% to 60% of their time in the office, which could be over a week, a month or a quarter. However, some colleagues may choose to spend more time in the office over a typical period than their role type requires. We also have a flexible working process where, subject to business needs, all colleagues globally are able to request work patterns to reflect their personal circumstances. Please discuss the detail of the working pattern options for the role with the hiring manager.

About Risk

Barclays Risk is mandated by the Barclays Board with the overall management and oversight of risk management practices group-wide. It operates across the organisation, and globe to protect Barclays' financial performance and reputation.

Risk professionals have advanced technical skills across a broad range of disciplines. They take the lead in addressing issues including the potential implications of an economic downturn or financial crime, and in advising Barclays' business leaders in making measured decisions.

Through dedicated support services Risk teams make a real difference to Barclays' business clients by sanctioning loans and investments, and by helping to turnaround their fortunes when they are facing financial difficulties.

The Risk teams also provide peace of mind for Barclays' Retail customers by protecting their assets and investments, whilst also protecting the transactions of our Barclaycard customers wherever they are in the world.

About Special Asset Management ("SAM")
SAM is a global team within the Risk function.

The team comprises distressed asset specialists based in New York, throughout the UK and Paris and manages counterparties where deterioration in credit risk is evident, pursuing turnaround, exit and recovery strategies.

SAM operates across the Corporate and Investment Bank providing advice and support to colleagues with counterparties displaying deteriorating risk. We also assume credit responsibilities for cases we adopt.

Through early engagement and by working closely with clients, other creditors, financial and legal advisors we seek to support counterparties back to financial health and return them to a normal banking relationship. Where this is not possible, SAM may pursue an exit or recovery strategy to protect the Bank's position.

Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.

Overall purpose of role

• Director role within SAM managing a diverse portfolio of turnaround, managed exit, impaired and legacy assets originating in the Americas. This portfolio may include bilateral exposures, multi bank syndicated or club deals and /or leverage finance assets, including the most complex and high profile situations.
• In managing the restructuring process, this role will involve liaising and negotiating directly with external stakeholders (including borrowers, other lenders and external advisors), attending client meetings and participating in creditor committees.
• Credit analysis and business valuations to inform case strategy and test for impairment.
• Recommendation of appropriate case strategies to meet the principle agenda of assisting our customers, protecting the Bank's balance sheet, minimizing impairment and protecting the Bank's brand and reputation.
• Implementation/assisting with the implementation of agreed strategies through time-bound execution.
• Ownership and participation in the delivery of projects and information requests, including for which SAM contributes as part of the Group.

Key Accountabilities

• Management of restructurings and workout efforts, working independently with limited oversight and guidance from SAM team lead / management.
• Working with junior colleagues on restructuring transactions, providing leadership and direction in order to ensure they are able to contribute effectively as well as gain development experience.
• Preparation of reports and presentations to senior risk management, audit, regulatory reporting, finance, and other internal groups.
• General responsibilities commensurate with a credit officer, including writing of credit and committee papers/memos and maintaining appropriate information in credit risk systems.
• Personal adherence to governance, compliance and lending portfolio controls, and conformance regulations applicable to your role.
• Participation in and contribution to a range of internal and Group projects which the team supports from time to time, including various information requests.
• Mentoring and supporting the development of junior colleagues), specifically related to technical applications, soft skills, communication techniques and situational readiness.

Stakeholder Management and Leadership

• Managing restructurings, amendment requests and other projects, working and/or negotiating with both external stakeholders (including borrowers, bank agents, other lenders, external counsel and consultants) and internal stakeholders (including Banking/Relationship Coverage, Wholesale Credit/Risk, Portfolio Management, Sales & Trading, Counterparty Risk, Legal, and Finance.
• Forming, recommending and driving strategy delivery on a wide range of restructuring transactions from bilateral through to the most complex and high profile of situations.
• Taking roles on creditor / bank committees to achieve optimum outcome for Barclays.
• Responsibility for managing external advisers and internal/external counsel, including reviewing adviser outputs and reviewing and negotiating legal documents (e.g. credit agreements and related documentation).

Decision-making and Problem Solving

• Analysis of restructuring situations and amendment requests, including strategy development, implementation and execution, with the preparation and presentation of approval request memos to senior credit sanctioners.
• Independent performance of i) complex credit analysis, including cash flow and financial statement modelling, covenant forecasting, and debt sizing, and ii) valuation methodologies, including DCFs, M&A precedent transactions, comparable company trading analysis. Such analyses are used in impairment recommendations and to set restructuring/recovery strategies.

Risk and Control Objective

All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

Person Specification

• Possess a high degree of self-motivation and energy, the ability to drive for results, and a track record of setting and achieving goals and meeting schedules.
• Possess the presence, maturity, and credibility to present effectively to internal and external stakeholders.
• Excellent interpersonal, verbal and written communication skills and have the ability to clearly articulate complex concepts and ideas.
• Attention to detail with a high level of strategic vision.
• Team player.

Essential Skills/Basic Qualifications:

• Possess excellent stakeholder management and relationship skills, excellent negotiation and influencing skills and the ability to balance risk with reward in a commercial environment.
• Strong background in financial analysis.
• Excellent time and project management skills.
• Expertise in all Microsoft Office applications and applications relating to financial and credit analysis.

Desirable skills/Preferred Qualifications:

• Prior experience of managing restructuring transactions preferable.
• Bachelor's degree or foreign equivalent.
• Working knowledge of Zeus/Portal/Sanctioning Workflow systems and/or experience with using other bank systems or equivalent.
• Knowledge of lending documentation.

Purpose and Values

We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.

Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.

Respect

We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone's contribution.

Integrity

We operate with honesty, transparency and fairness in all we do.

Service

We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.

Excellence

We champion innovation, and use our energy, expertise and resources to make a positive difference.

Stewardship

We prize sustainability, and are passionate about leaving things better than we found them.

Our Mindset shapes how we take action, living by our Values, driven by our Purpose, always with our customers and clients at the heart of what we do; our Mindset is to Empower, Challenge and Drive.

Empower

Trust and support each other to deliver. Make decisions with those closest to the topic. Include diverse perspectives. Celebrate success and learn from failure.

Challenge

Question whether things can be done better. Use insights based on data to inform decisions. Be curious about how we can adapt and improve. Speak up and be open to alternative viewpoints.

Drive

Focus on outcomes. Deliver with pace. Be passionate and ambitious about what we do. Take personal responsibility. Actively build collaborative relationships to get things done.