instantly level the wings using aileron and then "step on the ball" almost simultaneously while keeping the pitch on 12-13 degrees. And then smoothly manouver the airplane onto the runway track on the ND
One of the main training problems with engine failures (sim or aircraft) is that the exercise is done at a reasonably high V1 and mid to forward CG. The negative training value significantly increases if routine training is at overspeed schedules.
Points to note -
(a) the normal pussycat becomes a roaring tiger at min V1 and aft CG
(b) at min V1 (especially if Vmc limited) V2 often will be Vmca-limited and wings level might just push the actual Vmc up enough to catch you out .. inverted and into the ground. One needs to keep in mind that Vmca is strongly bank dependent and, near invariably (I have to say that as there may be the odd aircraft for which geometry may limit the bank angle), is scheduled for 5 deg wing down into the operating engine(s)
I might note that my students, after a bit of practice, were able to do the exercise under nil vis conditions including back tracking the opposite end localiser. The confidence building effects were quite stunning.