Discover Financial

2 weeks ago

Director, Special Assets

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Source: Company careers pageValidated by: Fursa AI

Last checked: 2 hours agoStatus: Live

Job Summary

Lead loan workout and loss mitigation for a portfolio of criticized and distressed commercial loans in Middle Market Banking. Set and communicate workout strategies to maximize recoveries, evaluate retention vs. divestiture decisions, and provide deal progress updates to senior leadership. Manage complex impairment and WAC governance processes, negotiate restructurings and legal documentation, and conduct advanced financial modeling and collateral/DCF reviews to drive regulatory risk rating recommendations.

Location: New York

Workplace: Onsite

Employment Type: Full time

Job Function: Executive & General Management

Seniority: Director level

Key Responsibilities

•Independently manage a portfolio of criticized and distressed commercial loans with risk management and loss mitigation as primary objectives.
•Develop and quarterback workout strategies to maximize recoveries, including evaluating customer relationships and communicating deal strategy and progress to senior leadership.
•Lead loan impairment and WAC processes, establish restructuring action plans, and serve in review/approval roles while ensuring reporting and regulatory compliance.
•Negotiate restructurings and review/lead legal documentation, including loan covenants and rights/remedies across default, receivership, and bankruptcy scenarios.
•Perform advanced financial analysis and modeling (e.g., collateral and discounted cash flow reviews, sensitivity/what-if analysis) to project probable/max loss exposure and inform restructuring decisions.

Pay and Benefits

Salary: USD 230,400 - 286,900 annually

Key Requirements

•Bachelor’s degree or military experience.
•At least 7 years of relevant commercial loan experience in credit, asset management, or workout.
•At least 5 years of loan underwriting experience or 5 years of experience in loan restructuring.
•Demonstrated ability to evaluate workout options and manage complex restructuring processes with legal counsel and senior/legal resources.
•Preferred: a Master’s degree or Juris Doctorate, and at least 10 years of commercial lending experience with direct loan restructuring experience.

Experience:7+ years

Skills:Written communicationVerbal communicationNegotiationRisk judgmentStakeholder management

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Discover Financial

Industry: Retail Banking

Website

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Discover Financial

2 weeks ago

Director, Special Assets

✓ Verified Job

Canonical indexed version, validated from employer's careers page.

Source: Company careers pageValidated by: Fursa AI

Last checked: 2 hours agoStatus: Live

Job Summary

Location: New York

Workplace: Onsite

Employment Type: Full time

Job Function: Executive & General Management

Seniority: Director level

Key Responsibilities

•Independently manage a portfolio of criticized and distressed commercial loans with risk management and loss mitigation as primary objectives.
•Develop and quarterback workout strategies to maximize recoveries, including evaluating customer relationships and communicating deal strategy and progress to senior leadership.
•Lead loan impairment and WAC processes, establish restructuring action plans, and serve in review/approval roles while ensuring reporting and regulatory compliance.
•Negotiate restructurings and review/lead legal documentation, including loan covenants and rights/remedies across default, receivership, and bankruptcy scenarios.
•Perform advanced financial analysis and modeling (e.g., collateral and discounted cash flow reviews, sensitivity/what-if analysis) to project probable/max loss exposure and inform restructuring decisions.

Pay and Benefits

Salary: USD 230,400 - 286,900 annually

Key Requirements

•Bachelor’s degree or military experience.
•At least 7 years of relevant commercial loan experience in credit, asset management, or workout.
•At least 5 years of loan underwriting experience or 5 years of experience in loan restructuring.
•Demonstrated ability to evaluate workout options and manage complex restructuring processes with legal counsel and senior/legal resources.
•Preferred: a Master’s degree or Juris Doctorate, and at least 10 years of commercial lending experience with direct loan restructuring experience.

Experience:7+ years

Skills:Written communicationVerbal communicationNegotiationRisk judgmentStakeholder management

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Discover Financial

Industry: Retail Banking

Website