SENIOR COUNSEL -- COMMERCIAL LENDING, WORKOUT AND RESTRUCTURING
Comerica Incorporated is a financial services company headquartered in Dallas, Texas, strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth Management. Comerica Bank locations can be found in Arizona, California, Florida, Michigan and Texas, with select businesses operating in several other states, as well as Canada and Mexico.
Comerica Bank's has an open Senior Counsel position for an experienced and highly motivated commercial lending lawyer. The attorney will work at the bank's headquarters in Dallas, Texas as part of a team of attorneys providing transactional and strategic support to the banks' national Business Banking and Private Banking lines of business and its Special Assets Group. The attorney will be responsible for commercial lending transactional, workout and restructuring matters for the aforementioned areas. This is not a litigation or compliance position.
Business Banking is part of Comerica's Retail Bank and provides commercial loans and credit facilities (working capital, inventory, equipment, acquisition, letters of credit and real estate finance) to businesses with revenues up to $20,000,000.00. In addition to traditional C&I loans, Comerica's Business Banking Group also provides SBA loans, Community Banking services and assists customers with other products and services including Treasury Management, Trade Financing, Merchant Services, Property and Casualty Insurance and Business Owner Advisory Services.
Private Banking is part of Comerica's Wealth Management business segment and is key to assisting the bank with providing credit facilities and other services to its Business Bank and Retail Bank clients. A key strength of Comerica is working with business owners to address the needs of their businesses, as well as their personal wealth goals.
The Special Assets Group is responsible for managing the recovery process on the bank's distressed or defaulted loans. The Special Asset Group facilitates asset recovery, financial restructurings, workouts and protects the bank's interests in connection with client bankruptcies and reorganizations.
This Senior Counsel position requires the highest level of legal analysis, integrity, trust and judgment. The successful attorney must have excellent oral and written communication skills, superb people skills, the ability to learn new areas of law quickly, business acumen, political savvy, an ability to anticipate and meet the needs of a demanding client group, flexibility and the ability to juggle a wide range of assignments simultaneously.
* Provide transactional support for Business Banking and Private Banking commercial loan transactions
* Draft loan documents, agreements, contracts, other legal documents and create standard forms as necessary
* Advise senior bank officers regarding the legal implications of proposed Bank policies, courses of action and management decisions.
* Provide legal advice regarding commercial lending matters, industry laws and regulations, policies and procedures, client communications, third party documents and other legal and business matters.
* Train and counsel lending officers, support personnel, credit officers and managers on legal, regulatory and compliance matters that affect the industry, company and their respective lines of business.
* Monitor company and industry issues and work with the business lines to implement and adhere to federal and state legal and regulatory requirements
* Conduct file reviews and draft/negotiate loan modification agreements, default waivers, forbearance agreements, loan sale agreements and other documents relating to workouts, asset recovery and reorganizations.
* Assist the Special Assets Group with acquisitions and dispositions of special asset properties, deeds-in-lieu of foreclosure, commercial mortgage foreclosures, foreclosures of security interests in various types of collateral such as inventory, accounts receivable and equipment.
* Provide transactional support to the Legal Department's litigation, bankruptcy and workout legal specialists.
* Assign, manage and monitor matters assigned to outside counsel
* Other duties as necessary or assigned to facilitate the bank's legal needs and accomplish its business goals
Travel is not typically required of this position.
This position is located in Dallas, Texas and reports to the Senior Vice President and Divisional General Counsel
Relocation assistance is not provided for this position.
* Attorney must be licensed to practice law and a member in good standing in Texas; or admitted to practice and a member in good standing of another U.S. bar association (preferably California, Michigan or Florida), otherwise in compliance with the in-house counsel registration rules of Texas, and willing to become admitted to the Texas bar within 180 days of employment.
* Minimum of seven (7) years of experience either with a U.S. law firm and/or in-house legal department with at least 5 years of representing financial institutions
* Experience preparing commercial loan, real estate loan and other credit facility documentation
* Experience with commercial lending workouts and restructurings
* General familiarity with laws and regulations pertaining to commercial lending
* Understands the supported business lines and related industries
* Excellent legal skills and judgment including ability to interpret and explain statutes and regulations
* Excellent verbal and written communication skills
* Strong interpersonal, analytical, problem-solving, time management and organizational skills
* Ability to understand and be responsive to the business's needs and partner across control functions throughout the organization to achieve commercials results while mitigating risk
* Ability to work independently and as part of a team, manage complex projects and multitask successfully in fast-paced and changing business environment
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
A little about us:
At Comerica Bank, we’re looking for leaders to help guide a higher level of banking.