Job description

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.

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.
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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’