Operations Officer – Local Financial Restructuring
Rabo Diversified Services LLC ("RDS") is part of Rabobank, a global financial services leader providing wholesale, rural and retail banking services in more than 40 countries worldwide. Founded by Dutch farmers over a century ago, Rabobank remains true to our core mission: to create value for our customers, our employees, and the local communities where we do business. Rabobank today is one of the world’s largest banks with over $650 billion in assets. In North America, Rabobank is a premier financial institution providing services across the food and agriculture value chain. RDS’s support functions champion over 1,300 employees throughout Rabo AgriFinance and Rabobank North America Wholesale, companion Rabobank subsidiaries.
The candidate supports the activities of LFR by providing oversight and structure to the operational aspects of the department. LFR operates in a complex environment: it serves clients located throughout the U.S., operates under two different accounting standards, in two different primary loan systems and fundamentally attempts to both rehabilitate and exit relationships. LFR employs a team of 12 Financial Restructuring Managers who work with a larger number of Financial Analyst throughout the U.S. In addition, the managers work with additional teammates from Rabo Head Office in Utrecht on larger exposures. Beyond the primary work of administering high risk relationships, LFR also has a role in RAF’s high risk accounting and manages RAF’s default data creation/approval. Given the overall complexity of LFR’s business, the Operations Officer’s responsibilities include both an operational function (e.g., maintaining the progress of deal flow throughout LFR’s approval process, proactively addressing bottlenecks in the approval process, providing oversight for LFR quality control function, orchestrating/organizing the creation and approval of default data, etc.) and a strategic project management function (e.g., oversight over LFR’s internal and external projects, close work with various stakeholders, proactively look for process improvements with an eye towards automation and so forth). The role requires both an attention to detail and internal level of organization plus flexibility and curiosity to propose new ideas to improve the overall operational performance of LFR in delivering its product to clients.
LFR plays an important role in managing RAF’s credit quality through the effective and objective administration of adversely classified assets. Considering RAF’s target agricultural client, however, it is expected that some clients will become adversely classified while RAF desires to maintain long-term relationships. LFR’s dual role of both administering assets from a risk perspective while working to rehabilitate clients through “stormy weather” combined with the factors discussed above (e.g., large, diverse workforce, dual accounting systems, etc.) makes for a complex work environment. The Operations Manager’s twin goals of managing operational effectiveness while considering operations with a critical eye to bring about improvement are integral to the department’s success.
RDS is a wholly owned subsidiary and the rural lending arm of Rabobank International.
Please note that LFR envisions the time allocations below shifting over time. It is expected the operational component will require the majority of time (as reflected below) initially, but will transition over to the strategic component as the candidate finds their footing with the role.
- Manage deal flow for Loan Strategy Reports (LSR) to provide for timely approvals and booking of underlying transactions. Maintain and distribute to team members the review calendar. Track “deals” that move from committee to committee to insure transactions are advanced timely and committee feedback is communicated to the required parties. (15% of time)
- Act as conduit from LFR’s Credit Approvers to RAF’s systems of record (e.g., LQA, nCino, etc.) to insure that approvals are correctly entered in these systems. Act as subject matter expert on RAF’s systems of record and stay abreast of current developments in these systems. (15% of time)
- Orchestrate LFR’s Quality Control function by providing organization and oversight of the sampling and assessment process conducted by the individual managers (10% of time)
- Manage and refine LFR’s existing reporting functions. LFR has both automated and manual reporting on various key aspects of its performance (e.g., LSR timeliness, Credit Quality ratios, impairment assessments, etc.). The candidate will manage LFR’s current reporting structure with a focus on improving in terms of automation. (10% of time)
- Manage and monitor LFR’s default data process. LFR’s managers and its partners in the 1LOD produce and approve default data on behalf of RAF. The candidate will work closely with LFR’s Default Data Coordinator to manage completion, scheduling reviews and follow-up on matters requiring attention. (10% of time)
- Assist Head of LFR and the LFR Exit Team in NPL reporting on a monthly basis
- Project Management. LFR works to continually improve its operational effectiveness. Due to its touching multiple aspects of RAF’s operations (e.g., origination, accounting, litigation, reporting, etc.) it continually has new items under development that involve multiple stakeholders. As such, it has projects underway to improve in these areas. The candidate’s strong project management abilities will be important in this role. (20% of time)
- Look for areas of improvement. As important as pushing LFR’s current projects forward, the candidate will need to question if LFR’s current way of working and its processes and procedures can be improved. It is expected that the candidate will critically question the status quo, propose ways to improve LFR’s way of working and implement, as approved, these proposals. A key focus will be on automation to expand LFR’s ability to deliver is services with reduced manual interaction. (20% of time)
- Be the linking pin between LFR and different departments and groups in Rabo (RAF and Head Office), build a network to improve operational efficiency, and successfully manage projects.
Knowledge and experience in credit analysis. Familiar with procedures and facts relevant to all systems, skills, frameworks and the overall global community of FR for Rabobank
Essential: Thorough understanding of all relevant banking regulations, Bank policies and limits, and Bank products.
Plans and organizes own work, uses time effectively, sets appropriate priorities, and anticipates business needs.
Essential: Reliably organizes work, works effectively and efficiently, prioritizes work and anticipates business need. Proactive and assertive when dealing with business issues. Juggles multiple responsibilities/projects simultaneously
Communicates all matters of importance to colleagues and clients. Has skill in transmitting and receiving information orally and in writing with groups or individuals.
Essential: Influences the undertaking of business worthy deals by verbal and written means to internal counterparts, as well as clients. Reports all relevant information to internal counterparts and clients.
Effectively represents the Bank in helping to maintain viable relationships with the desired customer base.
Essential: Assists with client relationships and supports efforts to obtain the mandate to execute/structure financial transactions. Ensures successful conclusion of transactions, including as necessary the negotiation and documentation.
Minimum BS/BA with business (preferably Finance/Acctg/Ag Econ) major. Completion of bank lending and/or credit training program. Experience as credit analyst. Minimum of 5 years work experience preferably in agricultural lending, finance or accounting.
While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee frequently is required to stand; walk; use hands to finger, handle, or feel objects, tools, or controls; and reach with hands and arms. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, and color vision. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Graduate level degree such as, M.S. in Agricultural Economics, Economics, or Finance, or MBA.
With healthcare and insurance costs on the rise, Rabo Diversified Services employees enjoy a first-class benefits package, featuring a selection of medical coverage and investment options to meet your personal needs. Our benefits program includes:
- Health care spending account
- Dependent care spending account
- Basic life insurance plus AD&D insurance
- Optional life insurance
- Short-term disability
- Long-term disability
- 401(k) program
- Health and wellness seminars
- Tuition reimbursement
Rabo provides equal opportunity in employment to all employees and applicants and does not discriminate on the basis of race, color, creed, religion, national origin, ancestry, alienage or citizenship status, age, sex, sexual orientation, gender identity, gender expression, marital status, genetic information, medical condition, physical or mental disability, pregnancy, childbirth or related medical condition, military service or veteran status, victims of domestic violence, or any other basis protected by applicable law. Rabo also prohibits harassment of any individuals on any of the bases listed above.
Consistent with this policy, Rabo embraces diversity and welcomes employees and applicants of all backgrounds. Our goal is to create an environment that is inclusive, drawing upon the strengths of the diversity of our workforce to exceed the expectations of our clients and customers.