Director, Credit Risk Management

Risk | Global Credit Restructuring | Director, Credit Risk Management | New York

About the position:

Senior Credit Restructuring Officer capable of 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 must have proven negotiating skills. The candidate will also interface with regulators and auditors who regularly examine our loan loss provisioning process. While the candidate will operate under the supervision of the Regional Head of Credit Restructuring, he/she is expected to operate independently on a day-to-day basis.

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 :

• Lead the management and resolution of complex stressed, distressed, criticized and non-performing credit exposures, developing and executing strategies designed to minimize credit losses and maximize recovery while appropriately balancing risk, return, liquidity and legal considerations.
• Assume end-to-end ownership of assigned problem-credit situations, from early identification and transfer to restructuring/workout through stabilization, restructuring, refinancing, exit, sale or recovery.
• Develop, recommend and execute restructuring and recovery strategies across consensual and non-consensual situations, including amendments, waivers, forbearance arrangements, maturity extensions, covenant resets, recapitalizations, refinancing, asset sales and other balance-sheet solutions.
• Lead negotiations with borrowers, sponsors, shareholders, lenders and other creditor groups, working closely with internal and external legal counsel, financial advisers and restructuring professionals on complex multi-stakeholder situations.
• Manage in-court and out-of-court restructuring and insolvency processes, including U.S. Chapter 11 situations where relevant, evaluating recovery alternatives, capital structures, collateral positions and creditor rights to determine the optimal course of action.
• Perform and challenge detailed financial and credit analysis, including liquidity and cash-flow forecasts, enterprise valuation, collateral analysis, capital structure, debt capacity, downside scenarios and recovery analysis to support restructuring decisions and approval requests.
• Determine and recommend appropriate internal credit classifications, risk ratings and workout strategies for deteriorating exposures, ensuring timely identification, escalation and documentation of credit deterioration.
• Assess expected credit losses, impairment and provisioning requirements under applicable accounting frameworks, including IFRS 9 and U.S. GAAP in partnership with Finance, Risk and other control functions.
• Ensure management of U.S. problem credits is consistent with applicable Federal Reserve and other U.S. banking supervisory expectations, including requirements relating to asset quality, classification of credits, credit-risk review, criticized assets and allowance for credit losses.
• Maintain robust documentation supporting credit classifications, restructuring decisions, valuations, recovery assumptions and allowance conclusions.
• Prepare and present restructuring strategies, credit recommendations and approval requests to senior management and relevant credit committees, articulating key risks, alternatives, expected recoveries, downside scenarios and recommended actions.
• Coordinate closely with Front Office, Credit Risk, Legal, Finance, Loan Operations and other stakeholders to ensure restructuring transactions are appropriately approved, documented, implemented and monitored.
• Support portfolio-level management of criticized and non-performing exposures, identifying emerging risks, concentrations and recurring themes and providing clear reporting and escalation to senior management.
• Contribute to the continuous enhancement of restructuring, problem-credit and recovery frameworks, including policies, governance, documentation standards, management information and readiness for internal, external and regulatory review.

Qualifications and Competencies

• 10+ years of relevant experience in corporate credit, leveraged finance, restructuring, special assets, workout or distressed credit, including experience managing complex stressed and non-performing corporate exposures.
• Demonstrated experience developing, negotiating and executing restructuring and recovery strategies across in-court and out-of-court situations, with a track record of independently managing complex creditor negotiations.
• Strong technical and practical knowledge of credit risk, restructuring and recovery analysis across a range of industries and financing structures. Experience may include Project Finance, Energy and Infrastructure, Acquisition/Leveraged Finance, Healthcare, Media & Technology, General Industries, Asset-Based Lending, and Trade & Commodity Finance.
• Strong working knowledge of the U.S. Bankruptcy Code, particularly Chapter 11, and practical understanding of creditor rights, intercreditor dynamics, priority and collateral considerations, insolvency proceedings and restructuring alternatives.
• Experience evaluating and negotiating restructuring solutions including, as applicable, amendments and waivers, covenant resets, maturity extensions, recapitalizations, collateral enhancement, debt restructurings and exit/refinancing solutions.
• Advanced ability to analyze stressed and distressed borrowers, including financial statement analysis, integrated financial modeling, liquidity and cash-flow forecasting, downside and sensitivity analysis, enterprise and collateral valuation, and recovery analysis.
• Experience recommending risk ratings, impairment/provisioning outcomes and collateral valuations, supported by clearly documented credit analysis and judgment.
• Working knowledge of IFRS 9/US GAAP and expected credit loss concepts; familiarity with the governance and control requirements applicable to criticized and impaired credits.
• Proven negotiation skills and sound independent credit judgment, with the ability to represent the Bank effectively in complex discussions with borrowers, sponsors, lenders, financial and legal advisers and other stakeholders.
• Strong written and verbal communication skills, including the ability to present complex credit and restructuring recommendations clearly and persuasively to senior management and credit committees.
• Ability to work independently, prioritize multiple complex situations and make timely decisions in high-pressure and rapidly evolving circumstances.
• Commitment to developing colleagues and strengthening restructuring capabilities.

Salary Range $216,000-$273,000

The salary range listed reflects base salary only. This role is eligible for participation in a discretionary bonus program.

In addition to comprehensive health benefits (including a $0 premium medical plan with HSA), 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 commuting and fitness.

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.