Junior Sales Associate Jobs in Ridgewood, NJ (NOW HIRING)

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details.

Associate – Junior Loan Workout Specialist

We are seeking an Associate – Junior Loan Workout Specialist in our New York office to service, monitor, and assist in managing a distressed loan portfolio. Primary objectives for this position are to assist in administering and monitoring a portfolio of challenged credits and assisting in the turnaround or exit of complex credit relationships through proactive management and restructuring efforts that may include liquidation of the Borrowers’ assets, loan sales, or potentially providing ongoing financing.  Special Assets Division’s (“SAD”) primary focus is to minimize losses and maximize recoveries. Qualified candidates will be quantitatively based, with strong credit analysis skills, experience creating bespoke complex financial models and familiarity with loan documentation.

Essential Duties and Responsibilities:

• Support Senior Loan Workout Specialists who are responsible for managing challenged loan exposures.
• Analyze Borrowers’ and Guarantors’ financial statements (including key performance indicators (“KPIs”) and 13-week cash flow reporting) and develop financial models with Senior Workout Specialists to: (i) measure and monitor operating and financial performance; (ii) adherence to financial covenants; (iii) determine ability to make debt service payments; (iv) analyze reason(s) for default/financial distress; (v) determine ability to turnaround operations to realize improved financial performance; (vi) assess repayment ability; and (v) evaluate enterprise valuations under various restructuring scenarios to ascertain assignment of regulator ratings and guide secondary loan sale recommendations.
• Use aforementioned analysis / models to prepare timely borrower internal and regulatory rating recommendations and assign proper accrual status on allocated accounts with Senior Loan Workout Specialists.
• Regularly prepare and submit reports to immediate supervisor, Division Manager, and others within Credit Risk Administration about actual/forecasted borrower rating changes that could impact capital charges or require a charge-off, as well as on matters that could impact deal/portfolio performance.
• Assist in developing, documenting and implementing detailed action plans and workout strategies, including potential remedies, options, including legal actions challenged credits in our portfolio, and provide periodic status reports to senior management.
• Assist in developing financial models and written recommendations of action plans for challenged deals, including: (i) to hold a loan because of high likelihood for refinancing or repayment; (ii) various strategies for restructuring loans; or (iii) rationale for selling a loan to with the overriding goal being to optimize MUFG’s position and loan recoveries.
• Review key terms and conditions of loan documentation.
• Prepare and present high quality written quarterly updates, analyses and remediation strategy recommendations to immediate supervisor, Division Manager, Bank Officers, and Committees.

• Keep abreast of business and market trends that may affect deal/portfolio performance.
• Comply with corporate policies, especially for loan provision and charge-off planning. Adhere to applicable compliance/operational risk controls in accordance with regulatory and Americas Risk Management standards and policies. Identify risk-related issues needing escalation to management.
• Avoid lender liability issues and contain legal/professional expenses by holding parties accountable.
• Complete other related duties and participate in special projects, forecasting, and reporting, as needed.

Qualifications (Education, Experience, Skills):

• Bachelor’s degree in Business Administration, Finance, Accounting or related discipline.
• Minimum of 2-3 years’ experience in wholesale banking credit, rating agency, or turnaround consulting firm, preferably with focus on leveraged finance.
• Knowledge of financial statement analysis, accounting principles, wholesale credit underwriting, and general bank lending guidelines. Preferred: Completion of a formal bank credit-training program.
• Strong technical and quantitative (credit and financial analysis) skills.
• Proficient computer skills including: MS Word, Excel, PowerPoint, Moody’s or comparable financial statement spread technology, Bloomberg, FactSet, etc.
• Detail oriented and demonstrated ability to multi-task.
• Strong written, verbal, presentation and interpersonal skills.
• Ability to organize, prioritize work and demonstrated ability to work well with minimal supervision, interact with management and work within a team environment, as well as to work effectively under difficult conditions is critical.
• Experience with loan documentation and loan workouts.

Preferred Qualifications

• Progress towards CFA designation.

The typical base pay range for this role is between $115K - $150K depending on job-related knowledge, skills, experience and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.

MUFG Benefits Summary

The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified. We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law.