Group Risk Management: understanding all risks – from the economic to the political – that could affect our global business, and offering guidance to all parts of the bank
Job Purpose
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 and are in legal order and properly housed.
Key Responsibilities/Accountabilities
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.
- 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.
- 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
- 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.
- Minimum of Degree in business related course or 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.
- Preferable to have banking experience, particularly pertaining to banking processes with regard to collateral documentation and the operation thereof.
- 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.