Zagreb, Croatia European Union

Daniel Vnuk

Credit Risk Special Assets Restructuring

Daniel Vnuk, Credit Risk, Special Assets and Restructuring professional

Experience across both sides of the credit cycle.

15+ years across corporate credit risk, special assets and restructuring, combining performing portfolio management with hands-on workout, recovery and asset resolution. From credit assessment and early warning through restructuring, recovery and final resolution.

At a glance Institutional-scale experience

Executive credentials

€1.2bn

Large Corporate & GRE Portfolio

Assigned credit-risk responsibility.

€1.5bn

Special Assets Portfolio

Complex workout and asset resolution.

€450m

NPL Portfolio Transaction

Transaction analysis and due diligence.

15+

Years Across the Credit Lifecycle

Performing credit through final resolution.

02

Operating range

Across the Full
Credit Lifecycle

Daniel Vnuk is a Credit Risk, Special Assets and Corporate Restructuring professional with 15+ years of experience across performing and distressed exposures.

His career spans both sides of the credit cycle. He began in institutional credit risk, managing Large Corporate, Government-Related Entities, public finance, project finance and commercial real-estate exposures before moving into the restructuring, workout and resolution of complex distressed assets at HETA Asset Resolution.

He subsequently experienced financial stress from the corporate side of the table as Head of Finance & Accounting of a 500-employee state-owned enterprise, leading finance through restructuring, liquidity stabilisation and restored profitability. His current work combines restructuring advisory, Board-level digital-transformation advisory and professional thought leadership through Restructuring.Insights. His professional interests extend across European and GCC banking markets, particularly the DACH region, UAE, Saudi Arabia and Qatar.

That combination of performing credit, distressed resolution and corporate financial leadership shapes how Daniel approaches credit deterioration, restructuring and recovery.

Performing to distressed

Performing Distressed Resolution

  1. 01Credit Assessment
  2. 02Portfolio Monitoring
  3. 03Early Warning
  4. 04Restructuring
  5. 05Workout
  6. 06Recovery
  7. 07Resolution

Experience spanning performing credit, deterioration, restructuring and final resolution.

03

Professional progression

Selected Professional Experience

From performing credit risk through special assets, corporate-side restructuring and selected advisory mandates.

2022 — Present

Zagreb, Croatia

Restructuring Adviser

Restructuring.Insights

Advisory work across corporate restructuring, recovery, distressed real estate, valuation, downside analysis and credit-sensitive situations across IT, real estate, energy and services.

Selected assignments include cross-border restructuring, distressed real-estate transactions and management advisory in situations requiring liquidity assessment, stakeholder alignment and disciplined execution.

2019 — 2022

Zagreb, Croatia

Head of Finance & Accounting

Narodne novine d.d.

Led Finance, Accounting, Treasury, FP&A and Payroll for a 500-employee state-owned enterprise, managing a 24-member team during a period of significant financial stress.

Designed and executed a restructuring programme that restored profitability, stabilised liquidity and supported going-concern status despite approximately €15m in accumulated losses.

Provided regular reporting to the Management Board, Audit Committee, Supervisory Board and institutional stakeholders.

2007 — 2011

Zagreb, Croatia

Tax Auditor

Republic of Croatia — Ministry of Finance

Conducted tax audits, financial analysis and compliance reviews across corporate and public-sector entities and contributed to public-sector financial and restructuring initiatives.

04

Professional focus

Areas of Expertise

Credit judgement, execution discipline and governance across the full lifecycle of institutional exposures.

01

Corporate Credit Risk

Credit analysis, portfolio monitoring, annual reviews, financial performance, cash-flow assessment, debt capacity, collateral coverage, early warning and watchlist management.

02

Special Assets & Workout

Problem credit management, stressed and distressed exposures, remedial management, workout execution, restructuring monitoring and recovery strategies.

03

Corporate Restructuring

Bilateral and multi-creditor restructuring, repayment restructuring, covenant resets, security arrangements, settlement structures and stakeholder negotiations.

04

Distressed Debt & NPL

NPE/NPL management, portfolio segmentation, NPL sales, buyer due diligence, distressed-debt negotiations and portfolio exit strategies.

05

Provisioning, Valuation & Control

Provisioning and loan-loss reserves, valuation review, Asset Quality Review, IFRS 9, IFRS 16, credit controls and audit interface.

06

Risk Governance

Board and committee reporting, senior-management decision support, supervisory interface, multidisciplinary case management and policy discipline.

05 · Institutional validation

Institutional Experience at Scale

The figures below describe the scale of assigned portfolios, operating environments and transactions—not sole individual ownership.

€1.5bn

Special Assets Portfolio

Management advisory on restructuring, resolution and recovery priorities within a €1.5bn special-assets portfolio.

€1.2bn

Large Corporate & GRE Portfolio

Credit risk management across corporate lending, public finance, project finance and commercial real estate.

€450m

NPL Portfolio Transaction

Portfolio segmentation, valuation analysis, data-room preparation and buyer due diligence.

€350m+

Distressed Restructuring & Recovery

Restructuring and recovery strategies across complex distressed exposures, including creditor negotiations, settlement structuring, multi-creditor workouts and cross-border wind-down coordination.

€250m+

Corporate & Project Finance Restructuring

Repayment structures, covenants, security arrangements and stakeholder negotiations.

€100m+

Distressed Real Estate

Transaction and recovery support across aggregate distressed real-estate exposure.

Corporate-side experience

Financial Leadership
Under Stress

Narodne novine d.d. 2019–2022

As Head of Finance & Accounting, Daniel led finance through a period of significant financial stress at a 500-employee state-owned enterprise, managing a 24-member team across Finance, Accounting, Treasury, FP&A and Payroll.

A restructuring programme restored profitability, stabilised liquidity and supported going-concern status despite approximately €15m in accumulated losses.

500Employees
24Finance Team
€15mAccumulated Losses at Restructuring Stage
IFRS 9 / 16Implementation

06

Professional judgement

Professional
Perspective

Good credit decisions preserve options. Good restructuring decisions recognise when those options are disappearing.

Complex credit situations are rarely resolved by analysis alone. They require timely recognition of deterioration, credible recovery assumptions, clear ownership, disciplined escalation and decisions that preserve optionality while it still exists.

07 · Selected Thinking

Restructuring.
Insights

Independent thinking on credit risk, special assets and restructuring.

Restructuring.Insights is an independent professional platform by Daniel Vnuk exploring the governance, incentives and decision disciplines behind credit deterioration, special assets, restructuring, workout and asset resolution.

Credit Risk · Special Assets · NPL · Workout · Restructuring · Insolvency · Recoveries · Governance

Explore Restructuring.Insights

Secondary practice

Advisory Practice

Selected advisory work in complex credit, restructuring and distressed situations is presented separately through DVNUK.

DVNUK Advisory

08

Academic record

Education &
Executive Development

2010

Master of Business Administration (MBA)

Cotrugli Business School

2006

Master of Economics in Finance (MEcon)

University of Zagreb

Executive Education

  • 2020Bocconi University

    Private Equity & Venture Capital

  • 2019Effectus University, College for Law and Finance

    Executive Education Program in Leadership

  • 2014Risk Reward Risk Academia

    Specialization in Risk Management

  • 2013Frankfurt School of Finance & Management Bankakademie

    Specialization in Leasing Company Management

  • 2011Korn & Korn Business Advisory

    Specialization in Corporate Finance and Risk Analysis

Languages

  • Croatian Native
  • English C1
  • German B1
  • Slovenian B1
  • Arabic A1

10

Professional contact

Connect

Daniel Vnuk, MEcon, MBA

Credit Risk Special Assets Restructuring

Email
[email protected]
LinkedIn
linkedin.com/in/dvnuk
Location
Zagreb, Croatia
Download Executive CV