Senior Manager

Talentmate

Job Description

• Some careers open more doors than others. If you re looking to unlock new job opportunities, take a look at the possibilities right on your doorstep here at HSBC.
  
  

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
  
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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
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