- To assist Business and Credit with the end-to-end remedial management of enterprise wide distressed debt exposures in the Personal and Business Banking and Corporate & Investment Banking environment, both in house (referred by Account Executives and Credit Evaluation Managers) or under formal Business Rescue proceedings (as per the Global Credit Policy and Licence to Lend principles) within assigned Personal-to-Holder mandates;
- To pro-actively attend to the collections and recoveries process and the protection of the Bank’s asset base on irregular / arrear accounts inclusive of non-performing loans and written off matters with values across the entire product spectrum;
- To proactively represent Business Solutions and Recoveries at Watch List Committee and CRMC 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.
- Undertakes a meaningful assessment of the financial position of the businesses and/or individuals 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.
- Engages with other major creditors, in need and attends to recommendations regarding impairments required.
- Keeps profile correspondence on all enterprise wide systems up-to- date in terms of all actions/developments.
- Compiles monthly watch list reports for presentation to Credit Review Committee at the various regional and product specific Credit Review Committee meetings.
- Attends monthly Watch List Committee meetings for areas of responsibility and recommends remedial action for those relationships not handled in the Business Solutions space.
- Provides input regarding contracts entered into with customers where the scope falls outside of the Bank’s existing documentation, when engaging with attorneys.
- Provides recommendations on restructure strategies, if possible when interacting with Business Rescue Practitioners / Turnaround Specialists.
- 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.
- In need, may assist in the compilation of Loss reports
- Ensure that the relevant Hold codes are placed on accounts to prevent further usage by the customer once BS&R strategies are implemented.
- Engages with Attorney firms when legal action deemed necessary.
- Attends to insolvency inquiries on behalf of the Bank.
- Assesses and analyses business and account risks of irregular, arrear and non-performing accounts. (Included Pre-NPL accounts)
- Takes ownership of identified irregular, arrear and 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. (Included Pre-NPL accounts)
- Builds professional relationships with internal business partners as well as the Bank’s external customers and service providers.
- Investigates, develops and applies best rehabilitation and recoveries practices in the unit.
- 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.
- · Supplies input on all accounts in the BS&R portfolio insofar the raising of provisions on a monthly basis, to ensure adequate provisions cover exists.
- 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.
- Any delegated ad-hoc functions.
- Identifies and manages business risk from both a customer and Bank perspective by ensuring that appropriate control mechanisms are in place and consistently applied within the unit’s processes to minimise risk exposure.
- Ensures compliance with rules, regulations and legislation governing the Tanzanian financial services industry.
- Identifies risks associated with specific industries and alerts internal customers to take appropriate action.
- Acts within delegated authority levels and refers matters to the appropriate level if outside of the personal-to-holder delegated authority.
- Develops and maintains healthy working relationships with all the relevant parties and key stakeholders, both internal and external to the Bank to ensure co-operative, collective management of a Business Solutions matter.
- Engages with all necessary stakeholders to either successfully rehabilitate a client within the shortest time period possible, alternatively if it is not possible for the company to so continue in existence, work with all necessary stakeholders to ensure that the re-organisation results in a better return for the Bank and circumvent would result from the immediate liquidation of the company.
- Produces or delivers the following to be considered effective:
- Proposes the development and implementation, if approved, of a plan to rehabilitate the client by restructuring its affairs, business, property, debt and other liabilities, and equity in a manner that maximises the likelihood of the company continuing in existence on a solvent basis, or if it is not possible for the company to so continue in existence, results in a better return for the Bank than would result from the immediate liquidation of the company.
- Escalates a matter when deemed necessary – in the case of arbitration or when a complaint is received.
- Manages a portfolio of customers in BS&R via interaction with Business Rescue Practitioners, other creditors, customers and internal stakeholders in order to maximise the likelihood of the company continuing in existence, or if it is not possible for the company to so continue in existence, results in a better return for the Bank than would result from the immediate liquidation of the company. Vote for or against a business rescue plan within authorised mandate.
- Inspires, motivates, leads and manage stakeholders on BS&R matters.
- Develops, train and re-train relevant skills in order to meet the business needs.
- Ensures skills assessments and competency-based training takes place as and when required.
- Builds organisational capabilities through evaluating likely future requirements and ensuring that individuals are provided with the best possible development opportunities in line with these.
- Creates an environment in which learning and development is emphasised and valued.
- Takes personal responsibility for coaching and mentoring others.
- Effectively delegates authority and responsibility in line with business objectives to ensure the empowerment, motivation and effectiveness of all direct and indirect reports.
- Promotes a culture where the values of the Bank are seen to be ‘alive’.
- Ensures the implementation of the leadership promise engagement.
- Encourages stakeholders to express their views, resolves issues raised by the business, escalates issues if required and provides feedback on an ongoing basis.
- Develops and maintains an open communication channel with direct reports and to foster greater co-operation and teamwork.
Preferred Qualification and Experience
3 Year Tertiary Degree (Preferred: Business / Legal / Accounting or related credit / risk qualification)
Certification in Credit / Risk Management
Experience in the following:
- Negotiation Skills
- Conflict Management
- Distressed Debt Workshop
- Business Solutions, Rescue and Recoveries Curriculum
Minimum 3-7 years experience in a credit environment (preferably in a Credit / Risk Assessment or Recoveries role).
Minimum 5 years credit / risk / relationship and recoveries experience if no tertiary qualification held
- Credit assessment
- Knowledge of all Banking products
- Knowledge of collateral
- Knowledge of risk management in respect of distressed debt customers
- Legal/accounting/business knowledge
- Knowledge of applicable statutory and regulatory legislation
- Required to have sufficient knowledge of credit / risk procedures to critically analyse information to ensure quality recommendations for a restructure / recovery
- Computer literacy – knowledge of applicable systems (MS Word, Excel, Power Point)
- Accounting/budgeting skills
- Risk management ability
- Credit evaluation skills
- Recoveries evaluation skills
- Turnaround of business
- Product knowledge
- Collateral knowledge