Director, Special Assets

Capital One
Bethesda, Maryland, United States
Aug 25, 2023
Sep 23, 2023
Full Time
Bethesda Metro Center (17049), United States of America, Bethesda, Maryland

Director, Special Assets

Capital One Commercial Risk & Analytics (CR&A) is seeking a Director to provide leadership and loan workout expertise to a portfolio of stressed or distressed loans in Middle Market Banking including various sectors such as Aerospace/Defense, Industrials, Non-Profit, Services and Government Contracting. The candidate will independently manage a portfolio of criticized & distressed commercial loans with risk management and loss mitigation as primary objectives. S/he will determine strategies to maximize recoveries, evaluate customer relationships to determine a divestiture or retention plan, and clearly present updates on deal strategy and progress on resolution to the business senior leadership team.

Position can be located in Bethesda, MD; New Orleans, LA; New York, NY; or Stamford, CT.

The ideal candidate has demonstrated ability and performance to:
  • Independently prepare financial analysis, draw conclusions from analysis, and implement those conclusions in their decision making.
  • Understand the primary drivers of risk and is able to identify the more reasonable or actionable mitigants based on judgment
  • Use industry knowledge to balance the many forces impacting the outlook and use that to inform credit or portfolio strategy
  • Negotiate and review credit documents across products; Identify key issues/risks in documentation and possible solutions
  • Review collateral analysis/discounted cash flow calculations and identify any issues/errors; Drive changes to assumptions when appropriate; Consider "what if" or sensitivity analysis and their impact on outcomes
  • Lead and direct the full loan impairment process including review of analysis and internal communication
  • Lead and direct the Watch and Criticized (WAC) process, establish the restructuring action plan.
  • Identify deficiencies in covenant package, recommend alternatives or solutions and negotiate covenants
  • Identify process or interaction improvement opportunities; Regularly sought for input or viewed as an subject matter expert by partners across the organization
  • Leverage deep structure and credit skill to evaluate workout options; engage with legal counsel and weigh the pros & cons of various options.
  • Develop an overall workout strategy based on multiple possible outcomes and communicate that to clients and internal stakeholders. Evaluate external recommendations for amendments or restructuring and identify issues & recommend solutions
  • Consider all key variables to determine, recommend and defend appropriate regulatory risk ratings.
  • Determine ratings triggers that fully capture the components that should drive a ratings change
  • Review and identify deficiencies in a credit approval memo (CAM)
  • Be fully autonomous in communication to leadership, customers, and additional stakeholders; Lead successful communications of complex information (i.e. legal terms) to diverse and challenging audience; tailor message to audience, express insightful opinions, use the right level of detail, demonstrate understanding of the big picture, and anticipate and address key questions/concerns
  • Be viewed as the voice of Capital One with external parties. Negotiate restructurings.
  • Take on the most complex transactions and/or portfolio accounts and lead them mostly independently; Informally (or formally) manage junior members of the team

Primary Responsibilities:
  • Perform the duties of a loan officer and be responsible for the restructuring/loss mitigation of criticized and classified loans
  • Be proficient in commercial loan financial analysis and structuring, as well as valuation methodologies
  • Lead legal documentation, loan covenants, rights and remedies in the event of default, receivership and bankruptcy scenarios, and restructuring strategies for Commercial loans
  • Utilize expertise in Special Assets to ensure Capital One is leveraging the best practices of its peers and proactively evolving the policies and programs employed by the Bank
  • Be capable of working closely with and influencing senior business and risk management leaders within the Commercial Bank when creating, revising or implementing Special Assets workout strategies
  • Lead aggressive and comprehensive workout strategy to ensure optimal loss protection to the Bank in terms of both time and money, while maintaining compliance with regulatory requirements
  • Negotiate and contract with various professionals such as attorneys, appraisers, brokers, etc. to provide services to ensure best cost/benefit return to Bank
  • Evaluate all financial information, collateral, legal documentation and other available information to project probable and maximum loss exposure to Bank
  • Lead criticized and watch list internal governance process for assigned portfolio and ensure compliance with all reporting and regulatory requirements
  • Acts as consulting credit officer and risk management specialist on a portfolio of higher risk relationships with line of business/other departments
  • Strong written and verbal communication competencies, in addition to financial analytical skills

Basic Qualifications:
  • Bachelor's degree or Military experience
  • At least 7 years of commercial loan experience (underwriting, credit, asset management, or workout)
  • At least 5 years of loan underwriting or loan restructuring

Preferred Qualifications:
  • MBA or JD degree
  • At least 10 years of experience in commercial lending (underwriting, credit, asset management, or workout) with direct experience in loan restructuring/workout

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

New York City (Hybrid On-Site): $228,500 - $260,800 for Director, Special Assets

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website . Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).