Workout and Restructure Associate at Old Mutual South Africa

Job Description

• To provide advice to clients depicting early warning signs of distress, assist in curbing further distress; and where distress is encountered, influence and monitor implementation of rescue solutions for distressed clients that are either going through Business Rescue or require Business Rescue intervention in order to prevent further deterioration.
• The purpose of this role is to rehabilitate the non-performing loan book with the ultimate goal of ensuring a suitable recovery for OMF. The incumbent will be expected to give technical expertise using various turnaround methodologies to develop, implement and monitor turnaround plans/rehabilitation strategies for non-performing loans.

Debt Restructuring

• Restructure the exposure of clients that are experiencing financial difficulties where such businesses have long-term financial viability and where liquidation is not a beneficial solution
• Restructure the companies and reduce the significant impairments and / or write-offs
• Establish the nature of the problem and develop a restructuring plan
• Review and monitor the businesses financial performance
• Review and monitor the collections
• Interface with other stakeholders for decision making

Turnarounds

• Develop the turnaround strategies
• Monitor the implementation of the turnaround plan
• Introduce investors or strategic partners into a business that is facing financial difficulties  where such investors or strategic partners can add value and turnaround the company

Business Rescue

• Attend to all business rescue proceedings and advice on the acceptance of the business rescue plan
• Monitor the implementation of the Business Rescue Plan

Risk Management

• Ensure that early warnings signs and other key risks factors are proactively identified
• Follow up and implement the recommendations of the internal and external audit findings

Reporting

• Prepare a restructuring proposal
• Present the proposal to relevant credit committee’s for approval

Monitoring

• Manage / monitor the non-performing loans until these loans have been rehabilitated or until the non-performing loans have been transferred to Legal
• Restructuring exposure of clients that are distressed
• Balance sheet restructure to reduce impairment and write-offs
• Developing and implementing turnaround strategies
• Implementation of the Business Rescue plans
• Identifying early warning signals and key risk
• Preparing restructuring proposals for approval
• Monitor and Managing non-performing loans

Minimum Requirements

• Experience in Business Rescue (Chapter 6 of Companies Act 2008)
• A relevant tertiary qualification (e.g., BCom / Business Science / CA / CFA)
• Post graduate degree advantageous.
• Credit experience is essential, including corporate restructurings and financial analysis
• 3 Years experience in deal making

Skills

• Independent Business Review
• Short term cash flow reviews
• Financial Restructuring
• Financial analysis skills
• Operational turnarounds
• Experience in Business Rescue (Chapter 6 of Companies Act 2008)
• Financial modelling skills
• Working capital and cash management
• Report writing skills
• Negotiation skill
• Executing
• Strategic
• Innovation
• Leading with Influence
• Relating
• Customer First
• Learning

Skills

• Balance Sheets, Cash Flow, Debt Restructuring, Financial Modeling, Financial Restructuring, Operational Turnarounds, People Management, Turnaround Strategies

Education

• Bachelors Degree (B)

Closing Date

26 April 2023