Job ID:7087
Date Posted:July 7, 2011
Location:Nigeria
Division:Business Support
Position Category:Credit
Employment Type:Full Time - Permanent
Shift:No
Regulatory Approval:Yes
Position Description
Main Purpose of the Job
• Ensure that the Bank’s needs to provide adequate controls over the risks encountered in the post-credit granting stage of the credit process are satisfied by ensuring the appropriateness, consistency, validity and enforceability of all collateral confirming that all collateral and legal documentation in respect of banking facilities and advances granted have been obtained are in legal order and properly housed.
Job Description
Preparation and Validation
• Ensure the Accurate and Timely drafting of legally enforceable facility letters / loan agreements, incorporating all the terms and conditions of sanction / covenants and required collateral.
• Ensure the Drafting of collateral documentation in such a way as to assure the bank of legal protection against credit risk within set credit risk parameters.
• Ensure that all alterations to standard collateral documents / agreements (such as facilities letters, cessions, pledges, suretyships/guarantees have been authorised in line with GRG procedures
• Ensure compliance with all relevant laws, regulations and bank policies and procedures.
• Ensure that all assets being secured in favour of the bank and in support of facilities are acceptable for collateral purposes, are current, have been verified, valued and where applicable, sufficiently insured.
• Ensure receipt of all required collateral documents, legal in order, before recommendation of funds drawdown to Manager Credit Risk Management.
• Adherence to Credit sanction in respect of regularisation of security.
• Ensure that all standard Credit documentation including Guarantees by Bank issued on behalf of the bank conform to the bank’s guidelines.
• Ensure that only external attorneys as approved by the bank is used when preparing and registering collateral.
Scrutiny and Management
• Ensure that all facilities letters / loan agreements/ collateral documentation /guarantees by bank have been completed / drafted without errors and omissions and are valid and legally binding.
• Ensure that no clauses have been included that could place the bank at undue risk.
• Ensure, where required, that scrutinised draft facilities letters / loan agreements / collateral documentation are sent to the relevant branch/ account executive under clear instructions for signature by the customer.
• Ensure that all facilities letters / loan agreements / collateral documentation have been correctly executed by the authorised signatory and that no unauthorised amendments have been made.
• Ensure that any collateral document / agreement that require registration are accurately and timely registered by the relevant party, and that any complications in the process are rapidly addressed, in order to minimise the impact on customers and the bank.
• Ensure that a comprehensive diary is kept to follow up on receipt of required collateral, current and sufficient insurance cover, current valuations, renewal of insurance cover, etc.
• Ensure that any deterioration / irregularities in insurance cover, asset valuations, pledged investments is addressed
• Ensure that all collateral is captured in the Branch Power Collateral Management system.
• Ensure that all relevant reports are actioned and filed accordingly.
• Maintain an updated register for all Guarantees by Bank issued.
• Ensure that commission for Guarantee issued by Bank is recovered quarterly in advance.
• Maintain proper diary notes and records to confirm recovery of commission for Guarantees by Bank.
• Ensure that collateral form (F23184) is prepared signed and submitted to relevant Business Units once new documents have been locked away.
• Address all shortcomings highlighted in both internal and External Audits
• Any other adhoc duties
•Submit key measures to Johannesburg on a daily basis
Custody of collateral documentation
• Ensure that all facilities letters / loan agreements / collateral documentation lodged for safekeeping have been scrutinised by the relevant authority and confirmed to be in legal order.
• Ensure that all required facilities letters / loan agreements / collateral documentation are held under joint custody, with both custodians being jointly responsible for items under their control.
• Ensure that all facilities letters / loan agreements / collateral documentation held as collateral are recorded and housed.
• Ensure that the release and disposal of any facilities letters / loan agreements / collateral documentation have been authorised by the relevant authority.
• Ensure that comprehensive diary system is maintained to follow up on receipt of temporary released collateral.
Co-ordination of Registration of collateral documents/agreements
• Ensure that any collateral document/agreement that requires registrations are accurately and timeously registered by the relevant party, and that any complications in the process are rapidly addressed, in order to minimise the impact on customers and the bank.
Management of Staff
• Ensure that a proper Credit Collateral Function is in place and addressing all the relevant processes pertaining to Credit Collateral Operations.
• Ensure that the Credit Collateral team is effectively staffed and motivated.
• Provide clear direction to the activities of the team members, with regular feedback and support.
• Facilitate the development of staff, and provide opportunities for their growth in ability and contribution to the effectiveness of the team.
Key Result Areas (KRA)
• Establishment of adequate controls over the risks encountered in the post-credit granting stage of the credit process to ensure compliance to all required conditions, thereby ensuring accurate and error free transactions, as well as minimising loss to the bank.
• Legally robust documentation implemented for all lending related credit agreements and facility structures to ensure relevance, enforceability and mitigation of risk to the bank.
• Highly effective and efficient management of legal risks arising in the deal making process throughout the credit value chain. Co-operative relationships between the various participants in the credit negotiation, approval and documentation processes..
• Proper control and housing of all facilities letters / loan agreements / collateral documentation.
• Acceptable collateral, up-to-date and adequate insurance cover, asset valuations, and pledged investments
• Timely and accurate submission of all required returns/reports.
• Guarantees by bank commissions and establishment fees recovered in full quarterly for all Guarantees issued.
Key Dimensions of the job
Daily
• Oversee roles and responsibilities of the PBB Collateral functions.
• Ensures that controls over the risks encountered in the post-credit granting stage of the credit process are operating effectively and satisfied.
• Ensures that there are appropriate, consistency, validity and enforceability of all collateral controls including the handling of the keys to the Safe Custody.
• Confirms that all collateral and legal documentation in respect of banking facilities and advances granted have been obtained and are in legal order and properly housed.
• Ensures that there are proper control and housing of all facilities letters / loan agreements / collateral documentation.
• Identifying and managing existing risks, and taking the necessary corrective action when the risk profile threatens to become unacceptable.
• Verify collateral captured on system.
• Ensures that the Collateral Reports from are actioned
• Manages and monitors the custody of all Collateral
• Ensure that no facilities are availed prior to perfection of collateral
• Monitor Turn Around Times in Collateral Department
Weekly
• Ensure that all relevant reports are actioned and filed accordingly.
• Monitor effectiveness of the management of diary system
• Follow up on action items from meetings
Monthly
• Coordinate monthly staff meetings.
• Conducts snap checks and provides a monthly report on the findings to the supervisor.
• Follow up on outstanding audit issues
Problem solving, Planning and Decision Making
Problem solving
• Evaluate current processes and controls in order to address any shortcomings in the credit monitoring, management and mitigation processes.
• Evaluate documentation in support of facilities for potential legal risks due to flaws, loopholes, omissions or ambiguities in document clauses. Draw on understanding of how the deals function, as well as on a deep knowledge of company law and financial practices, to articulate and construct detailed and where required, complex legal contracts to be used in credit deals.
• Effectively manages the priorities and activities of the Credit Collateral team by identifying key value leverage points and eliminating low value work.
• Negotiation of legal agreements is developed on the basis of working towards a business-orientated solution with acceptable risk, rather than merely taking a total risk minimisation approach.
• Legal consultation access to participants within the credit risk value chain providing expert legal and technical support in the credit risk evaluation process in order to facilitate the development of acceptable risk parameters
Planning
• Planning, setting up and management of a Credit Collateral Function, ensuring that all the following relevant processes are sufficiently addressed:
• Legal documentation: collateral documentation in legal order, with the bank’s rights thereto being unassailable, and housed as directed.
• Returns/reports: Preparation and submission of all relevant returns/reports.
• Training and development of all Collateral staff.
• Staffs leave programmes.
Decision Making
• Suitability of staff, collateral documentation, legal action, systems and controls, processes, procedure and external attorneys/council/liquidators/administrators.
Knowledge
•Minimum of a 2.2 class of degree from an accredited/reputable university
• Minimum of Diploma in a Collateral related field
• Understanding of the bank’s products and facilities. Understands the terms of the facilities, and the conditions that will need to be compiled with over the duration of the facility’s life to ensure that legal risk is effectively restricted.
• Knowledge of various legislative requirements, particularly as it pertains to credit agreements, loan documentation, and the variety of lending mechanisms and types of collateral that may be used.
• Understanding of relevant registration processes.
•Understanding of the bank’s internal controls and processes, specifically relating to the drafting, execution, management and custody of all facility letters / loan agreements / collateral documentation.
• Computer literacy, legal drafting skills, risk management ability, problem solving skills and credit evaluation skills.
Application
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