Senior Manager, Turnaround/Restructuring Special Credit (SCU)

United Arab Emirates

Job description

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Role Overview:
Turnaround is a specialist team within the Special Credit Unit (‘SCU’). Turnaround team members are responsible for portfolios of wholesale accounts (mid-market, large corporates and international corporates), where the bank has concerns about the customer’s ability to repay the bank and/or survive as a going concern and is now seeking to maximise recoveries and/or minimize losses for the bank. Normally these customers are either: operating as a going concern but with some concerns as to future strategy or credit worthiness; or technically insolvent or close to insolvent and require financial and/or operational restructuring. These are usually customers who are still operating and are not in any form of formal insolvency, whereby we believe that there is a possibility of restoring the business to good health. Strategies employed for these customers can be wide ranging, but may include 1) sale of debt on secondary market; 2) introducing/insisting upon management or governance changes to strengthen the company; 3) assisting with operational and/or financial turnaround; and/or 4) financial restructuring.

The jobholder will be responsible for supporting both complex and non-complex turnaround cases, single and multi-jurisdictional groups across MENAT. Role requires:
- Adoption and implementation of HSBC/SCU procedures and processes to protect the Bank’s capital by making a full assessment of all relevant risks, creating and implementing appropriate strategies, optimising facility structures and minimising impairments/maximising recoveries
- Adoption and implementation of Special Credit Unit’s VACS (Vulnerability, Affordability, Consensual, Support) principles and the Lending Standards Board’s “Standards of Lending Practice”
- Adoption and implementation of HSBC’s fair customer outcomes values and communicating with customers in a clear, consistent, considerate, constructive, and consensual manner to protect the Bank’s reputation when working with distressed customers.
- Streamlining of processes and procedures through a focus on improving the efficiency and effectiveness of SCU.
- Adopt and implement an environment where people are empowered and inspired to gain the necessary skills and knowledge to confidently support customers facing financial difficulty in a variety of complex and non-complex situations and deliver good customer outcomes through every interaction.
- Promote SCU within the bank through providing pro-active support and sharing successes.
- Where necessary oversee appointment of financial and legal advisors, as well as potentially trustees, administrators and receivers.
In addition, SCU Turnaround Managers will be tasked with managing and/or supporting on Recovery cases. These are cases where the customer has typically stopped trading, or HSBC has determined that the company’s prospects of being rehabilitated to a bankable proposition are low, or the bank has set an exit strategy that is fairly straight forward to execute and complex stakeholder management is no longer required.

All managers in the SCU team are also tasked with contributing to the oversight of the portfolio of ‘Watch Worry Monitor’

Duties & Responsibilities:

Impact on the Business

Manage Turnaround cases as to maximise recoveries and minimise losses whilst minimising reputational risk
Minimise impairments and forecast future impairments accurately and reliably.
Build a varied network of internal bank stakeholders, Legal advisors, financial advisors, peers at other banks, secondary funds and asset tracers.

Customers / Stakeholders

Ensure good customer outcomes by operating and behaving in accordance with HSBC’s values and business principles
Drive a culture of customer service excellence ensuring up to date knowledge of legal framework, market practices and maintaining/upskilling to the necessary skills needed to provide appropriate solutions and drive fair outcomes to customers in financial difficulty encouraging a ‘right first time’ approach
Adhere to the SCU Operating policy & guidelines and ensure all actions are compliant with the Standards of Lending Practice and HSBC’s Business Banking Terms and Conditions.
Protect the reputation and integrity of the HSBC MENAT brand
Ensure key internal stakeholders are updated on a timely manner

Leadership & Teamwork

Work as an integrated member of the SCU team
Lead, inspire and motivate colleagues by proactively sharing knowledge, experiences, and best practices
Act as an ambassador for SCU in developing a strong relationship with key stakeholders including corporate business & product areas/SCU/ Financial Support Team.
Ensure clarity and accuracy when conveying information to colleagues, seniors, line management and all relevant stakeholders.
Coordinate and contribute to meet wider team goals within deadlines.
Demonstrate the HSBC values.

Operational Effectiveness & Control

Continually reassess operational risks taking account of the changing economic, legal, and regulatory environment
Implement Group compliance policy by working in concert with the relevant compliance department
Be able to demonstrate adherence to internal control procedures.
Ensure effective credit and reputational risk management
Identification of potential savings through improvements in the efficiency and effectiveness of SCU.
Ensure timely and accurate maintenance of customer information, including KYC/KYCC/KYCS requirements.
Resolve any/all identified issues promptly and escalate concerns to senior management as appropriate to ensure timely awareness of any material concerns.
Comply with targets including resolution with max. 2-year timeframe
Complete annual and DCF reviews on a timely basis

Requirements

Experience & Qualifications:

Strong financial analytical experience
Good understanding of UAE bankruptcy code (including various onshore & offshore codes), as well as other relevant jurisdictions commonly found in groups in the MENAT region (such as Guernsey, etc.)
Credit & Risk experience and knowledge of key banking systems
Ability to understand, interpret and apply legislation across the various jurisdictions (onshore, offshore, different Emirates, Federal and where appropriate, non-UAE A knowledge of the bank’s business areas and products
Knowledge of the UAE Court framework
Ability to negotiate effectively together with an aptitude to persuade and influence others
Networking skills
Strong negotiation skills
Good communication skills (oral and written)
Strong stakeholder management skills
Solution-based approach and action-oriented mindset
Ability to remain calm in a crisis
Ability to multi-task in stressful scenarios

For further details and application information please visit our careers site, searching under reference number (ID: 0000LNXN).

We support our staff to adopt flexible and alternative ways of working where possible, including working from home and different hours subject to approvals.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working, and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hong Kong and Shanghai Banking Corporation Limited.

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