Help me not look incompetent.

[k3am]

As mentioned yesterday. I have been working on a deal that was sourced and structured without my input. Based on deal size, it's going to require committee level approval. This includes my CEO, COO, chief credit officer, etc. 

It is not a standard deal. I made the (wrong) assumption that prior to sending out the proposal, they'd gotten buy off from credit. They didn't. The COO supposedly blessed the term sheet before sending it out, but I know that at best, he's a big picture guy. He likely had a 20-minute discussion, maybe gave the raw numbers a cursory view, and left it on the business guys to structure appropriately. 

So now I have to figure out how to manage expectations. Of my boss, who wants the deal done anyway, anyhow. He does not always walk the straightest lines, so it's up to me to self-police. (He suggested I just make the modeling work, I told him it doesn't work that way). We have a lot of pressure to get new business booked by year end, and this would get us a lot closer to where we need to be. That is 100% what he's focused on. 

But I also know if I take this deal to committee, or even put it on the agenda for committee, they're going to wonder WTF I was smoking.

[k3am]

So the answer is look incompetent or piss my boss off. Knew it.

[186momx]

I would be up front and piss off the boss in the short term vs sending it to committee and wasting a group of people's time and having the entire group pissed at you.

[akafred]

Is there any way to get the proper documentation quickly and push forward?

[k3am]

I think I'm just going to finish my underwriting, take it to my credit guy, give him a bit of feedback, let him know I'm trying to gauge interest/ability to get it done with its flaws and then take that feedback back to the boss. I don't know.

[waverly]

Is the deal really going to go through? Or is it too risky? I mean I get the boss wants it etc. But if it is all going to blow up anyway I vote blow it up sooner rather than later. In business terms- stick to your processes, rules, strong underwriting and risk management.

If you document the risk then at least you don't look like you are hiding something or incompetent. Obviously you can't make up a model.

I get he wants this but if it's not good business it's just going to bite you all in the ass later. If it is good business I am sure you will be able to tease that part out and present that.

[mommyatty]

Won’t he be pissed if the board shuts it down? Mine would be, and it would somehow be my fault. So I would piss him off early.

[k3am]

It's just such obnoxious circumstances. My boss is being pressured to make up for loan outstandings and doesn't know how to push back. So instead, he pushes for deals that don't meet our criteria.

Coworker has already taken one deal to committee that got rejected. I have never had a deal get rejected at committee and I'm not about to start now. But at the same time, if we can't get volumes up and they decide to do layoffs, I don't want my boss holding it against me.