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KeyBank · 10 hours ago

Senior Counsel - Workout

Cleveland, OH

Full-time

Hybrid

Senior Level

$112K/yr - $210K/yr

5+ years exp

KeyBank is seeking a Senior Counsel in their Key Legal Group to provide pro-active legal services primarily to the Specialized Finance group. The role involves advising on compliance, managing legal risks, and collaborating with internal clients to develop effective workout and restructuring plans.

Banking

Responsibilities

Senior Counsel in Key Legal’s Workout Group provides pro-active legal services to the Group’s primary internal clients, the Specialized Finance group, including within it the Asset Recovery group (ARG)

ARG Relationship Managers (RMs) are a highly skilled and experienced group of commercial loan workout officers who manage troubled commercial loan workouts and bankruptcy matters

Senior Counsel works hand-in-hand as a legal adviser with ARG RMs to maximize recoveries by developing and implementing workout and restructuring plans

Providing ARG with the same legal services in the commercial workout and bankruptcy areas as outside law firms, including reviewing and modifying commercial loan documentation, preparing and documenting loan forbearance programs when needed, and representing ARG in commercial bankruptcy cases

Reviewing and discussing with ARG RMs existing loan documentation, including verifying the validity and enforceability of the documents

Identifying and correcting any deficiencies in the loan documents and having the workout borrower promptly execute corrective amendments or other documentation, as needed

Strategizing with and advising ARG RMs as to the most effective workout strategy, including (i) entering into forbearance documentation with the borrower to provide time to cure loan defaults, (ii) having the workout borrower return the loans to performing status, (iii) having the borrower locate take-out financing, or developing a program to liquidate KeyBank’s collateral to minimize losses

Representing KeyBank’s interests if a bankruptcy case is filed by or against the workout borrower, including consulting and negotiating with the debtor’s counsel and other active participants in the case, drafting and filing pleadings in contested matters and adversary proceedings, and appearing in bankruptcy court on KeyBank’s behalf, both in-person and virtually

Qualification

Juris DoctorCommercial loan workoutBankruptcy practiceUniform Commercial CodeBankruptcy CodeMotion practiceNegotiationBusiness acumenAccountabilityEffective collaboration

Required

Bachelor's and Juris Doctor degrees and active state or local bar membership

At least five years of relevant experience in a commercial loan workout and bankruptcy practice, including with law firms, corporations in-house, or judicial clerkships

Experience with, and a working knowledge of, the Uniform Commercial Code and the Bankruptcy Code

Negotiating and modifying commercial loan documents

Motion practice (state, federal, and bankruptcy courts), including in-court argument of bankruptcy court contested matters and adversary proceedings

Working as a team with ARG RMs, outside counsel, and outside consultants

Accountability: Keeping promises and honoring commitments, demonstrating open and honest communication; accepting responsibility for mistakes and failures and learning from them

Effective Collaboration: Identifying and involving the appropriate stakeholders to make decisions and maximize results; readily sharing information, knowledge, experience, and best practices; leveraging opportunities and capabilities accomplish team goals

Business Acumen: Knowing how business works; being knowledgeable in current and possible further policies, practices, trends, and information affecting the business and organization; knowing the competition; being aware of how strategies and tactics work in the marketplace