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Covenants Control - Vice President
Sumitomo Mitsui Financial Group
Jersey City, NJ, United States
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Overview
The Covenants Control unit is a part of the Business Control Department Americas group and is responsible for monitoring commercial loan covenants to ensure compliance is maintained by the borrower throughout the term of the loan. The Department Head provides overall direction and support to the people that manage and monitor commercial loan portfolios. This individual is a subject matter expert in the area of loan documentation and covenant management. Focuses on daily activities of the staff, adhering to established departmental guidelines and procedures. This role is both tactical and transactional, and frequently exercises independent discretion and judgement to resolve complex or critical operational issues.
Responsibilities
Sets policies within the purview of bank and statutory requirements as well as government regulations.
Provides day-to-day operational support of existing and new departmental processes and enterprises initiatives.
Administers the appraisal/performance process per the performance evaluation standards set by the bank.
Supervises and provides technical guidance to the staff, ensuring that all tasks are carried out appropriately, in a timely manner, in accordance with the bank's governance structure, and with minimal risk to the organization.
Identifies areas for process improvements and/or value-added functionality, evaluates alternatives and presents options to senior management.
Manages special projects, both cross-functional and internal, tied to the bank and/or the loan department's strategy.
As one of the key business leads will provide input and feedback for the development of a new covenants database, inclusive of enforcing procedures in accordance with the bank's and department's governance.
Participates in Business Continuity exercises to ensure smooth recovery of applications in the event of unplanned business disruption.
Qualifications
Extensive experience in and expert knowledge of commercial loan documentation.
Expert understanding of loan agreements and terminology.
Ability to synthesize technical information, analyze risk and identify mitigating factors.
Proficiency in customer service and analytical skills.
Excellent mentoring and management proficiency with demonstrated ability to delegate and influence others.
Ability to set priorities, develop a work schedule, monitor progress toward goals and track activities.
7 to 10 years of specialized experience in Financial Services.
Experiencing managing a loan documentation team in an international bank or financial services institution.
MS Word, MS Excel, MS Access, Lotus Notes, Loan IQ.
Preferred BA / BS (or equivalent experience).