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Responsibilities for Senior Counsel in the Key Legal Group include:  (i) generally conducting research, monitoring new laws and regulations, and advising clients and co-workers of compliance requirements and (ii) identifying and assessing legal and enterprise risk, and assisting in risk mitigation.  The role acts as a relationship manager for Key Legal services to line of business or functional leaders, as assigned.  Success criteria include timely and effective handling of daily requests from internal clients, establishing a reputation as an accessible and approachable team member with internal clients, functional areas, other Key Legal members, and other support groups, and collaborating with clients, management, co-workers, and outside counsel to identify and mitigate risks resulting in reasonable and risk-appropriate decisions.

 

Essential Job Functions

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.

 

Education and Experience Qualifications

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.

Skills

 

·     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.

Competencies

 

·     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.

 

 

 

 

 

 

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $140,000.00 to $180,000.00 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.

 

Please click here for a list of benefits for which this position is eligible.

 

Job Posting Expiration Date: 01/04/2025

 

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

 

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.