Corporate Recoveries Manager – Legal Portfolio at Absa Bank Tanzania

Corporate Recoveries Manager – Legal Portfolio at Absa Bank Tanzania

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Job Summary

• Be member of the ABSA -BBS Africa, Absa Business Support and Corporate Recoveries Team with responsibility for the delivery of recovery strategies to a portfolio of Corporate Customers experiencing financial distress
• Responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realizes the maximum return in the shortest possible time.
• Responsible for a portfolio made up of the most involving and complicated corporate and business banking recovery accounts, a selection of which have the highest provisions raised on them, those with the highest exposures, and those which are politically sensitive.
• Ultimately responsible for all EWL 4 and classified corporate accounts in-country.
• Proactively review and identification of all accounts on clean and EWLs that are to be transferred to Recoveries
• Acts as a point of contact for the local BBS team throughout EWL;s ,Committee to discuss specific problems, and recommending solutions or strategies in acting capacity in the absence of BS&CR Team Leader
• Act as a liaison of the department with Legal, RCU, Finance and BBS – Africa.

Job Description

Key Responsibilities:

Recoveries and Service 75%

Outputs:

Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding the agreement to, and implementation of, strategy, e.g., Settlement proposals, etc.
Lead proactive formulation and implementation of strategies on managed exits/recoveries.
Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the Absa Brand.
Manage politically sensitive customers and recover debts from them in a professional manner which leaves a good impression of them about the bank.
Act as a reference point for Corporate Recoveries and credit teams for discussions on specific cases or where more general input from a BS & CR “specialist” is required.
Ensure appropriate recovery is achieved and generally provide pragmatic and effective legal support to general management and business functions on impaired debts of the bank
Manage the achievement of service levels and quality.
Prepare and submit necessary returns to the local regulatory authorities and Head Office on impaired debts
Ensure that the necessary sanctions are obtained from superiors for strategies and expenditure whenever necessary.
Be the secretary of the local Board’s Loans Review Committee, and the Provisions Committee and be the custodian of the minute books of the Committees as assigned.
Raise provisions if required.
Sanction of Case Manager Applications within own discretion.
Prepare and submit reports to CMC, the local Board, and its sub-committees.
Monitor the relationships with the bank’s service providers, especially with regards to fees charged by lawyers and service level agreements with them.
Ensure that all classified corporate files are properly maintained and have up to date file notes.
Ensure data integrity is maintained.
Prepare summons instructions to external lawyers and manage recovery of debts through the courts, including disposals of debtors’ assets.
Manage relationships with external service providers such as liquidators, executors, sheriffs, messengers of court, accountants, receivers, judicial managers, valuators etc who provide services to matters in Corporate Recoveries.

Business and Risk Management 20%

Progress the recovery of debts on classified corporate accounts and ensure their compliance with local regulatory requirements and the bank’s internal procedures
creation and updating of CCRS / Credit Applications ensuring mandatory policy and procedures have been adhered to and that technical and security matters are correct
Develop network of contacts internally and with local external professionals in order to maximize effectiveness in assisting customers.
Promote the BS & CR team to internal audiences (including relationship and credit teams and group companies) and professionals.
Transfer account responsibility out of team when appropriate, including possibly to a BS Team

Staff Management 5%

Outputs:

Responsible for a small section within the Team
Set objectives, drive performance, and provide feedback to ensure targets are met.
Use management information to monitor and provide feedback to ensure targets are met.
Identify risk skills gaps and communicate and meet identified training needs by effective coaching and counselling.
Provide assistance and advice to team members in formulating strategies regarding the more complicated accounts in their own portfolios

Risk and Control Objective:

Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
Continuous and proactive engagement with regulatory bodies, unions where applicable
All mandatory training completed to deadline All mandatory training completed to deadline

Technical Skills/Competencies

Legal recovery strategies applicable to in country
An understanding of credit skills
Good negotiation and influencing skills
Good relationship management skills
Strong commercial skills
Strong analytical and numerical skills
Strong communication and report writing skills
Good knowledge of Microsoft Excel and other spread sheet/database applications
Strong planning, coordination, and time management skills
Proficiency in use of internal IT systems especially BRAINS and Case Manager

Knowledge & Experience

relating to specialist knowledge and expertise required to undertake the role. May include knowledge of the Bank’s products, services and policies)

Essential

Knowledge of the scope and activity of Recoveries as well as the practical application of recovery techniques in such situations. An understanding of EWL, Impairment & Forbearance policies
Good understanding of the role of Business Support and Corporate Recoveries in ARO -BS Africa
Previous experience of relationship management of corporate customers
Previous experience of credit risk analysis and/or sanctioning
Experience of working under pressure and with very little supervision
Good understanding of Risk Management policies and procedures

Preferred

Experience of both corporate relationship management and credit risk analysis
Experience of dealing with senior management of corporate entities
Strong negotiation skills
Detailed understanding of policies for provisions / NAD / write offs.
Good knowledge of the local legal system, insolvency law and security issues, and the options available to the Bank.

Experience & Qualifications

Essential

Sound knowledge of insolvency legislation and procedures in several jurisdictions
Good knowledge of corporate finance and insolvency laws

Preferred

Graduate in law and/or Professional Banking qualifications, accountancy (e.g., ACIB,ATIOB, CPA)
An advocate
The individual must be a self-starter and be able to diagnose and solve problems. The role will require working under very minimal supervision and the use of a great deal of initiative.

The role holder must be aware of the various options available to the bank in the process of recovering debts. Previous knowledge of debt recovery will be a distinct advantage

Absa Behaviours and Purpose

Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:I drive high performance to achieve sustainable results

• I’m obsessed with customer
• I have an African heartbeat
• I believe our people are our strengths

Education

National Diplomas and Advanced Certificates: Business, Commerce and Management Studies (Required)

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