Officer, Collateral Preparation
Business Segment: Group Functions
Location: KE, Nairobi County, Nairobi, Westlands Road
Job Type: Full-time
Job ID: 60051321_80367211
Date Posted: 7/7/2023
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 secured banking facilities and advances granted have been obtained are in legal order and properly housed.
- To check details on collateral preparation form with corresponding sanction/authority from Credit.
- To prepare collateral documents accurately within turnaround times, in terms of the Bank’s and other legal requirements, whilst maintaining excellent service to internal customers.
- Ensure that only external advocates as approved by the bank are used when preparing and registering collateral.
- To maintain a diary monitoring the status of registration of securities and take-over instructions.
- Provide a prompt and orderly turnaround environment in which controls can be exercised to ensure the Bank is not faced with avoidable losses.
- To recommend draw down of facilities once satisfied that all terms and conditions of sanction and/or covenants that required action prior to drawdown have been met and all required security has been obtained and is perfected and in order.
- To follow up on all post drawdown terms and conditions of sanction and/or covenants.
- Ensure compliance with all relevant laws, regulations, guidelines and the bank’s policies and procedures.
- Ensure that follow up is done on required collateral, current and sufficient insurance cover, current valuations, renewal of insurance cover etc.
- Ensure that all collateral documentation lodged for safekeeping have been scrutinised by the relevant authority and confirmed to be in legal order.
- Ensure that all required collateral documentation are handed over to the collateral recordal team for recording and safe custody.
- Ensure that all relevant reports are submitted on the due dates and actioned accordingly.
- Ensure that the release and disposal of any facilities letters/loan agreements/collateral documentation have been authorised by the relevant authority.
- Address all shortcomings highlighted in both internal and external audits.
- Prepare facility letters, letters of intent, letters of offer and any other collateral documents
- Send instructions to external service providers with respect to perfection of securities.
- Follow up outstanding terms and conditions of sanction and/or covenants.
- Provides report on facility letters/loan agreements issued and returned
- Provide all reports required to be sent to business
KNOWLEDGE REQUIRED (EXPERIENCE):
- Good knowledge of the bank’s internal processes and requirements with regard to security documentation and credit processes, specifically relating specifically relating to the drafting, execution, management and custody of all facility letters / loan agreements / collateral documentation.
- Understanding of the bank’s products and facilities, the terms of the facilities, and the conditions that will need to be complied with to ensure that legal risk is effectively restricted.
- Knowledge of various legislative requirements, particularly as it pertains to credit agreements, loan documentation, legal processes, and the variety of collateral that may be used.
- Understanding of relevant registration processes.
SPECIAL SKILLS / COMPETENCIES:
- Pays attention to detail across the whole scope of work, and selectively focuses energy on most relevant and impactful issues. Prepares documents and returns accurately, with no typographical errors and complying with the bank’s or other legal / regulatory requirements
- Maintaining turnaround times agreed to ensuring that appropriate quality is delivered on time, and later evaluates the effectiveness of the initiative
- Organises and controls work efficiently, maintaining all filing and record systems in place in good order
- Establishing and maintaining an effective working partnership with internal and external customers, and service providers
- Actively demonstrates the willingness and capacity to acquire and improve the necessary level of technical competence/knowledge and skills for the job. Forward thinking and constantly strives to find better ways of doing things.
- Remains organised and apply sound judgement, and keeps developing relationships whilst under pressure and maintains effectiveness over extended periods of time.
- Computer literacy, legal drafting skills, risk management ability and problem solving
FREEDOM TO ACT/ LIMIT OF AUTHORITY:
- Freedom to act independently within the framework of authority.
- Articulate and perceptive. Listens to other people, and clarifies their understanding of the issues. Defines requirements concisely and unambiguously.
- Works well with other contributors to the business process by sharing information and involving their input. Achieves results through enthusiasm, energy and personal commitment. Always matches self against required standards of performance.
- Handles potential conflict situations tactfully, with respect for other parties involved, and fosters a climate of co-operation and trust.
- Bachelor of Laws degree and admitted as an Advocate of the High Court of Kenya with a valid practising certificate.
- Preferable to have at least 1year conveyancing experience, particularly pertaining to banking securities.
- Adopting Practical Approaches
- Checking Details
- Examining Information
- Following Procedures
- Interacting with People
- Managing Tasks
- Meeting Timescales
- Producing Output
- Resolving Conflict
- Taking Action
- Team Working
- Upholding Standards
- Asset Based Lending
- Contract Management
- Loan Assessment & Approval
- Loan Processing
- Mortgage Lending
- Risk Acceptance
- Risk Identification
- Risk Measurement
Please note: All our recruitment processes comply with the applicable local laws and regulations. We will never ask for money or any from of payment as part of our recruitment process. If you experience this, please contact our Fraud line on +27 800222050 or [email protected]