2025 "Career Arc" Returnship Program - Senior Workout Officer

• Maximize recoveries and minimize losses on problem assets in accordance with bank’s policy. The workout activities mainly include both debtor risk and counterparty credit risk .
• Work with counsel to manage litigation risks with a goal of minimizing the reputational and financial impact to SG.
• Manage problem asset strategies, workout negotiations, and restructuring and exit strategies including regular evaluation of the intrinsic values of problem asset collateral, enterprise valuations, and monitoring of secondary distressed debt markets.
• Work in partnership with First Line of Defense to provide advice on strategy and methods for achieving the optimum results on recovery and/or restructuring of exposures.
• Manage, in partnership with First Line of Defense to contribute problem asset expertise to develop strategy to further SG’s strategy to maximize recoveries and lead coalescence around a strategy. 
• Work with 1LOD to manage intricate counterparty situations; lender groups in SG-agented transactions; and participations and bilateral transactions.
• Coordinate with counsel (internal and/or external), financial advisors, technical advisors and creditors to develop cohesive strategies  
• Ensure that appropriate diligence and sound judgment is exercised. Ensure that the appropriate processes, procedures, and controls consistent with the SG Code, SG US Credit Risk Policy, the SG US Default Management Policy/Procedure and all regulatory requirements are initiated to effectively manage the workout activities.
• Analyze and evaluate the need for provisions on all assigned counterparties at least once a year or more often as changes in valuations occur. Propose and substantiate recovery analysis to feed SG systems that calculate provisions. Perform valuation analysis to assess recovery expectation in line with internal guidance.  Present quarterly valuation recommendations to senior management.
• In parallel with default-rated exposures, oversee as Second Line of Defense a portfolio of Substandard Accrual exposures on SG’s credit watch list employing ARM’s workout expertise to benefit from early intervention on problem assets.  This will include but is not limited to preparing for assigned portfolio counterparties risk comments on annual reviews and conducting quarterly watch list reviews and writing minutes.
• Ensure LGDs, ratings, and classifications are accurate and reflect the current risk profile on each relationship in accordance with regulatory and bank policies.
• Keep Head of Asset Restructuring & Recovery Management informed of all material developments.
• Effectively communicate externally with agents, participants, counsels, financial advisors, and clients and internally with peers and senior management.  Manage external advisors retained by SG to effectively execute on work scope and strategies.
• Ensure that material information is communicated in a timely fashion and workout activities are coordinated internally.
• Perform as part of an integrated team by backing up and supporting fellow team members. 
• Participate, as requested, with the Head of ARM and other responsible groups within the divisions on the development of default management and credit policies and procedures, documentation and reporting standards, systems requirements, and training programs.  Continuous review of processes for automation, machine learning, digitization, or other methods of streamlining.
• Respond to requests for information from ARM Group Head, senior management, head office, regulators, and internal and external auditors
• Participate, as directed by Head of ARM on various internal and external audits and regulatory exams.
• Elevate Compliance-related issues as soon as identified  
• Maintain a working knowledge of various regulatory, accounting, and industry developments and best practices through internal training, external research, contacts, and industry group participation.
• Prepare closing memos with “lessons learned” when workouts are completed and work with ARM colleagues to present an annual or more frequent presentation to SG Senior Management and of:” best practices” to 1LOD and 2LOD colleagues.
• Act as a center of excellence and an advisory resource to SG on all problem asset issues, including  as advisor with 2LOD colleagues on Special MentionWatch List names.
• Participate in SG Committees, as required by the ARM Group Head
• Work on special projects, as assigned.

Division Description:

This is a six month program with the potential to be hired full time.

Societe Generale’s Career Arc Returnship program is designed to give professionals like you a chance to re-enter the workforce and refresh and sharpen skills through a 6-month paid internship.  During the internship you will be given the opportunity to perform meaningful work in a supportive environment while reacclimating to the banking world.  We value a variety of backgrounds and levels of talent and are looking for individuals with previous equity sales and trading experience in areas including prime services, program trading, research sales, equity derivatives sales, equity derivatives trading, derivatives structuring, quantitative strategies, and derivatives strategy.

The Risk Management Department contributes to the sustainable growth of the Societe Generale group through its expertise, understanding of risks, and risk management techniques. The department’s mission is to independently analyze, assess, manage, and monitor risk-taking activities with the objective of achieving, together with the first line-of-defense, the best possible outcome for the bank.  The department oversees the enterprise, strategic, credit, market, liquidity, operational, model, and other risks of the corporate and investment banking business activities.

The Asset Restructuring & Recovery Management Group (“ARM”) is SG’s “workout group”, managing all defaulted and sensitive/credit watch list exposures.  The team works in partnership SG’s client-facing teams to develop and execute optimum recovery strategies on all problem assets in the Americas.  The team is responsible for developing valuation analysis and determining all regulatory classifications for impaired assets.

 Skills and Qualifications:

Must Have:

• A minimum of a 2 year career gap
• 10 + years of experience working for a major US or international bank 
• 5+ years of experience performing credit analysis;
• 5 + years of experience working with clients and bank groups; and
• Minimum 5 years of workout/restructuring experience including working with counterparties and creditors on negotiating/enforcing on loan and trading products
• Strong credit skills
• Deep experience with loan documentation
• Background in negotiating workouts, restructurings, and/or credit agreements
• Knowledge of US GAAP related to impaired assets
• Strong working knowledge of financial markets products
• Deliver as a team player in a fast-paced environment
• Strong communication skills (written and oral)
• Ability to communicate messages effectively and succinctly to senior audiences
• Strong working knowledge of the US Bankruptcy Code
• Strong working knowledge of US regulatory guidelines and internal policies
• Experience managing distressed assets, including, but not limited to, the following risks: debtor, counterparty credit, and clearing.  Experience leading bank groups as an agent and steering committees
• Experience working with debtors, lenders, and other creditors in bankruptcy, restructuring, and foreclosure
• Familiarity and proficiency on FRB regulations including those related to criticized and classified assets; leveraged lending; and best practices in problem asset management.
• BA or BS
• English

Nice to Have:

• Knowledge of European Central Bank regulations for problem assets.
• Familiarity and proficiency managing commodity borrowing base transactions and clearing exposures.
• Working knowledge of International Accounting Standard related to impaired assets.
• CFA, MBA, or JD
• Formal Bank Credit Training Program
• French
• Spanish
• Portuguese

Societe Generale is committed to offering an inclusive recruitment experience to all candidates. If you require any reasonable accommodations during the recruitment process, please do not hesitate to let our Recruiters know.

OUR CULTURE: 
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate. For more information about our Culture and Conduct initiatives, please visit this link (https://americas.societegenerale.com/en/careers/get-know-culture/)

D&I: 
Our Diversity & Inclusion Mission: Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.
Our Diversity & Inclusion Vision:

• Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate
• Inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents
• Engage our community and marketplace, and position the organization to meet the needs of all its clients

For more information about our D&I initiatives, please visit this link (https://americas.societegenerale.com/en/societe-generale-about/diversity-and-inclusion/)

HYBRID WORK ENVIRONMENT:
Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site, in order to promote interaction and collaboration with colleagues while adhering to all SG standard protocols.  Hybrid work arrangements vary based on business area.  The applicable business lines will determine and communicate the work arrangements that best meet their business needs.

COMPENSATION:
Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience. The role is eligible for an annual discretionary bonus and includes a competitive benefits package including 401(k) plan with company match, medical/dental/vision, and other benefits for fertility, wellness, student loans and commuters.