Senior Counsel - Workout

Job Summary

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.

127 Public Square, Cleveland Ohio

• Provide proactive legal services to the Specialized Finance group, including the Asset Recovery group (ARG). Work closely with ARG Relationship Managers (RMs) to maximize recoveries by developing and implementing workout and restructuring plans.
• Provide legal services in commercial workout and bankruptcy areas similar to outside law firms, including reviewing and modifying commercial loan documentation, preparing loan forbearance programs when needed, and representing ARG in commercial bankruptcy cases.
• Review and discuss existing loan documentation with ARG RMs, verifying validity and enforce ability.
• Identify and correct deficiencies in loan documents and have the workout borrower promptly execute corrective amendments or other documentation as needed.
• Strategize with ARG RMs on the most effective workout strategy, such as entering into forbearance documents, returning loans to performing status, securing take‑out financing, or developing a program to liquidate collateral to minimize losses.
• Represent Key Bank’s interests if a bankruptcy case is filed by or against the workout borrower, including consulting and negotiating with the debtor’s counsel, drafting and filing pleadings in contested matters and adversary proceedings, and appearing in bankruptcy court on Key Bank’s behalf, both in‑person and virtually.

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 experience with law firms, in‑house corporate counsel, 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 adverse proceedings.
• Collaborating 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, and leveraging opportunities and capabilities to accomplish team goals.
• Business Acumen:
  Understanding how business works, being knowledgeable in current and possible future policies, practices, trends, and information affecting the business and organization, knowing the competition, and being aware of how strategies and tactics work in the marketplace.

This position is eligible to earn a base salary in the range of $ ‑ $ annually. Placement within the pay range may differ based upon various factors, including but not limited to skills, experience and geographic location. Compensation also includes eligibility for incentive compensation, which may include production, commission, and/or discretionary incentives.

Key has implemented an approach to employee work spaces that prioritizes in‑office presence while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.

Job Posting Expiration Date: 04/16/2026 Key Corp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, pregnancy, disability, veteran status or any other characteristic protected by law.

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