This role will give you an opportunity to apply your knowledge of financing structures to play an important role in helping manage distressed borrowers, and to work with Canadian and international companies to help them navigate through challenging market conditions. The Export Development Canada (EDC) Special Risks Team is responsible for managing all recovery and rehabilitation efforts on distressed impaired loans in EDC's Corporate and Canada Account portfolios. The team’s responsibilities include working with distressed companies to find solutions that drive the best outcomes for both EDC and its customers, including: negotiating debt restructurings (through CCAA/Chapter 11 or out-of-court agreements), seeking recovery on loans through bankruptcy and similar proceedings, and recovering through asset sales, liquidations, etc. The Special Risks team works closely with EDC’s loan origination teams to share learnings and experience on distressed files, enabling the business teams to adapt their underwriting strategies accordingly.
Reporting to the Director of Special Risks, this individual will be responsible for managing a portfolio of distressed loans, which could range from small commercial domestic loans to large international structured credit facilities, depending on the knowledge and expertise of the candidate.
We are looking for a motivated and seasoned professional who is looking to take on a new challenges and enhance their professional experience, gain a deep knowledge of how risk mitigants in loan structures play out in a workout scenario, and sharpen their skills in strategic thinking and complex negotiations.
- Manages a portfolio of distressed loans.
- Restructures loans, negotiates changes to lending terms and conditions, develops documentation, and manages loans through insolvency proceedings, as required, in collaboration with legal counsel and/or external advisors where appropriate.
- Makes credit recommendations and obtains all required approvals.
- Thoroughly understand all aspects of EDC’s lending programs, including EDC’s market position, risk appetite and related loan documentation.
- Lead all aspects of restructuring and transaction management and loss mitigation assessments and recommendations, and internal communication.
- Responsible for managing communications and relationships with borrowers, bankers, lawyers, receivers, and trustees, advisors, etc.
- Resolve issues arising with internal or external counterparties.
- Act as a resource for colleagues with less experience.
- Explain difficult or sensitive information and works to build consensus externally and internally.
- Supports team with other projects (where required), such as continuous improvement initiatives or governance risk management practices, teambuilding, etc.
- Completion of an MBA or other post-graduate education in related disciplines such as CPA or CFA
- Minimum five years (Special Risks Manager) or seven years ( Senior Special Risks Manager) of experience in commercial/corporate lending, structured and project financing, or managing distressed loans
- Solid knowledge of commercial lending practices, common financing structures, and security
- Strong credit analysis, risk assessment and negotiation skills
- Bilingualism (English & French)
- CFA designation
- Spanish language skills
- Special Risks Manager: $124,800 - $187,300 + performance-based incentive
- Senior Special Risks Manager: $146,500 - $219,700+ performance-based incentive