Manager, Business Support & Recoveries - Gqeberha, East London & Surrounds at Standard Bank Group

JOB DESCRIPTION

• To assist Business and Credit with the end-to-end remedial management of enterprise wide distressed debt exposures in the Business and Commercial Clients environment, both in house (referred by Account Executives and Credit Evaluation Managers) or under formal Business Rescue proceedings (as per Chapter 6 of the new Companies Act) within assigned Personal-to-Holder mandates
• To pro-actively attend to the recoveries process and the protection of the bank’s asset base on non-performing loans with values across the entire product spectrum
• To proactively represent Business Support and Recoveries at CRC committee level
• To innovate and design alternative credit risk management / rehabilitation and recovery methods aimed at optimal efficiency and effectiveness
• To reduce the cost of delivery and to conform to end-to-end value propositions
• To effectively engage with internal and external stakeholders in order to optimize returns for the Bank
• To uphold and maintain the Bank’s core values
• To provide innovative solutions (involvement of outside consultants, restructuring, recommending sale of non-core assets etc) in an effort to minimise impairments and to retain business.

QUALIFICATIONS

• 3 year Tertiary Diploma or Degree (Preferred: Business / Legal / Accounting or related credit / risk qualification).
• Preferred & advantageous: (SARIPA/AIPSA) Restructuring & distressed management

Skills and/Knowledge:

• Minimum 6 years experience in a Business & Commercial Banking environment in a Credit / Risk Assessment and Recoveries role.
• Minimum 3 years experience in Management 

ADDITIONAL INFORMATION

Outputs:

Credit Support:

• Undertakes a meaningful assessment of the financial position of the business and/or individual by engaging with the Account Executive / Account Manager, Credit Evaluation Manager and the customer to obtain all the necessary documentation and information. 
• Investigates a wide range of factors regarding the distressed customer including identifying enterprise wide exposures, including exposures to sureties, primary reasons for distress, strength of financial statements, past performance, future profitability / sustainability, cash flow generation, industry outlook, validation and valuation of existing collateral and the possibility of improving the position, evaluation of impairment requirements.
• Provides a full recommendation to business, credit and the customer regarding a restructure or if not possible, recommends legal action to protect the bank’s position.4.Engages with other major creditors, in need and attends to recommendations regarding impairments required. 

Credit Recoveries:

• Takes ownership of identified non-performing accounts until the risk has been reduced to the satisfaction of the Bank and to strive to do so in agreed time frames.
• Builds professional relationships with internal business partners as well as the Bank’s external customers and service providers.
• Investigates, develops and applies best recoveries practices in the unit.
• Complies with all statutory, regulatory and supervisory requirements.
• Maintains the highest ethical standards to prevent market abuse.
• Reports any breaches and exposures to the Unit Head and/or the division’s Regulatory Compliance Officer.
• Compiles loss reports for any loss >R5m.
• Compile write off reports on all losses >R1m for CRMC.
• Engages with attorney firms when legal action deemed necessary.
• Attends insolvency inquiries on behalf of the bank.
• Assesses and analyses business and account risks of non-performing accounts.
• Maintains all records required by the unit to ensure continuity and effective management of its objectives. Housekeeping and maintaining of Bank and departmental records.
• Attends to the compiling of all claims in liquidated estates and submits same to the liquidators.
• Raises provisions timeously to cater for possible losses that the bank may suffer.
• Consider offers of compromise within mandate or refer for approval where necessary.
• Ensures legal costs are kept to a minimum and within agreed annual budget.
• Analyses and actions (in need) Liquidation & Distribution Accounts of liquidated/sequestrated estates.
• Attends to and controls realization of all securities.
• Compiles informative brief of instructions to attorneys.