Collateral Maintenance Officer at Stanbic IBTC Bank

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

Effective risk management is fundamental to the business activities of the Standard Bank Group (group). While we remain committed to increasing shareholder value by developing and growing our business within our broad determined risk appetite, we are mindful of achieving this objective in line with the interests of all stakeholders.

We are recruiting to fill the above position of:

Job Title: Collateral Maintenance Officer

Job ID: 12630
Location: Lagos Nigeria

Position Description
Main Purpose of the Job

• Attending to all aspects relating to collateral documentation and routine related aspects for the Branches. Maintain and monitor diary system to follow up on collateral conditions of sanction and outstanding collateral items.
• Maintain and Monitor collateral.
• Attending to all aspects relating to collateral documentation and routine related aspects for the Branches.

Key Responsibilities

Maintenance

• Obtain surrender values on a half / yearly basis.
• Obtain values of pledges on a quarterly basis.
• Follow up on ceded Fire Insurance policies
• To follow up with the relevant attorneys on the progress of the instructions to ensure effective client services.
• Follow Up of matured/surrender policies and acknowledgement of liens (cessions bank as first loss payee)
• Investigate Collateral related queries
• Action Collateral Reports i.e. Collateral Expiry Report. Forthcoming Maturity Report, Negative Allocation Report
• Update customer data on receipt of advices/surrender values from policy companies.
• Sent reminders by phone/e-mail/letter to Attorneys and/or Branches for all cases pending with them.
• Updating and Maintaining of Insurance , Bond/ Mortgage Diary System
• Advice branches when bonds are registered or cancelled.
• Follow up on queries pending.
• Amend Collateral with regards to receipt of ack liens and surrender values.
• Update Collateral form (F23184) or system when collateral is released.
• Any other adhoc duties

Guarantees

• Attend to payment of property guarantees
• Action cancellation of Performance bonds where no payment is to be made by bank.
• Action claims against Performance Bonds
• Action Notice to withdraw requests and Reversal request
• Action Guarantee Diary for follow up on expiry dates
• Recover/Monitoring of commission paid on a quarterly basis.
• Ensure guarantees are cancelled for calculated/paid guarantees from guarantee system.
• Archiving of all obsolete guarantees
• Recover/Monitoring of Establishment fee

Key performance measures

• Maintenance and Monitoring of all Guarantees and Collateral 100% accurate
• Files/records to be kept up to date and to hand at all times
• Timely and accurate submission of all required returns/reports.
• Payments and claims and cancellation to be actioned within agreed turnaround times

Key Dimensions of the job (to be completed in-country)
Daily

• Updating and Maintaining of Insurance , Bond/ Mortgage Diary System
• Advice branches when bonds are registered or cancelled.
• Follow up on queries pending.
• Amend Collateral with regards to receipt of ack liens and surrender values.
• Amend system with regards to collateral queries
• Update Collateral form (F23184) when collateral is released.
• Log out/Remove all released collateral documents in log book and file obsolete.
• File all collateral documents.
• Submit key measures to Johannesburg on a daily basis
• Action diary systems
• Action Collateral Reports i.e. Collateral Expiry Report

Weekly

• Archiving of Collateral
• Action Collateral Reports i.e. Forthcoming Maturity Report

Monthly

• Reconcile and ensure that the Guarantees By Bank balance.
• Collates and actions all the reports/returns before the supervisor approves them.

Required Skills and Qualifications
Knowledge
Tertiary Qualification

• 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 and problem solving

Experience

• Preferably to have a Legal background. Banking experience, particularly pertaining to banking processes with regard to collateral documentation and the operation thereof will be of added advantage

Required Competencies
Competencies

• Leadership abilities, providing encouragement and direction to the Credit Collateral team, and leading by example.
• Articulate and perceptive. Listens to other people, and clarifies their understanding of the issues. Defines requirements concisely and unambiguously, while pitching the conversation at the right level for the hearer.
• Works well with other contributors to the business process by sharing information and involving their input.
• Handles potential conflict situations tactfully, with respect for other parties involved, and fosters a climate of co-operation and trust.

Work Pressure/Stress

• Remains organised and apply sound judgement, and keeps developing relationships whilst under pressure.

Attention to Detail

• Maintains attention to detail across the whole scope of work, and selectively focuses energy on most relevant and impactful issues. Strives for high degree of accuracy.

Problem Solving

• Analysis and identification of technical and legal issues, and identification of most appropriate solutions. Organises and controls work efficiently.

Follow Through

• Ensures that appropriate quality is delivered on time, and later evaluates the effectiveness of the initiative.

Technical Competence

• Demonstrates the willingness and capacity to acquire the necessary level of technical competence/knowledge for the job.

Customer Orientation

• Identifies and responds to customer needs, (e.g. Wholesale Banking, Credit Evaluation, etc) delivering high service relevant to the business’ strategy and operating conditions.

Positiveness and Energy

• Achieves results through enthusiasm, energy and personal commitment. Always matches self against required standards of performance. Maintains effectiveness over extended periods of time.

Future Orientation

• Forward thinking and constantly strives to find better ways of doing things.

Application Closing Date
3rd June, 2014

Method of Application
Interested and qualified candidates should
Click here to apply online