The role helps the Bank to achieve its mission of “stimulating a consistent expansion and diversification of African trade so as to rapidly increase Africa’s share of global trade, while operating as a first class, profit oriented, socially responsible financial institution and a centre of excellence in African trade matters” by providing a dedicated collateral management and administration capability within the Loan Admin Unit and providing overarching support to front office and other functions in the take-up and management of security associated with the Bank’s lending business and thus ensure sustainable growth of such business in line with the Impact 2021 – Africa Transformed Strategy.
The role holder will be responsible for collateral administration activities in Banking Operations covering the take-up, monitoring, quality and control of security and collateral for each facility and underlying transaction.
The role holder will be an integral part of the Loan Admin and the wider Banking Operations team, working closely with Customers, Legal Officers, Relationship Managers, Credit Officers and other Operating Units, to help the Bank achieve sustainable growth in line with its strategy.
Duties and Responsibilities
- Monitoring and controlling the taking up of acceptable security and its progression throughout the lifecycle of the transaction, from initiation of the transaction to final repayment of the transaction, ensuring at all times that the security quality, value and charges are in accordance with the terms of the relevant facility agreement and credit approval.
- Ensuring that every aspect of the security or collateral related to a transaction (i.e. the quality, value and charges in respect of security) is recorded in an accurate and timely manner thus protecting the Bank’s interest and providing a clear audit trail.
- Ensuring at all times that the security (quality, value and charges) are in accordance with the terms of the facility approvals and agreements.
- The role requires the incumbent to be able to assess high value collateral valuations from market data and market knowledge and to be able to ascertain whether judgements on source are fit for purpose
- Receiving and executing requests for collateral releases, ensuring that the required security coverage ratio is maintained at all times.
- Where relevant, ensuring the daily mark to market valuation of the security or collateral is maintained within the coverage ratio as all times.
- Liaising with Credit, Legal, Credit Quality Assurance and other teams in the referral of any excesses or shortfalls;
- Responding to requests for information from clients and other internal stakeholders.
Governance and Operating Efficiency:
- Maintain excellent levels of market and technical knowledge in the field of collateral management in respect of physical commodities, cash, debt securities and other types of collateral
- Responsible for development and maintenance of written processes and procedures for the collateral administration in Banking Operations
- Design and prepare appropriate reports to management on the Bank’s “collateral” portfolio ensuring the early identification of potential issues in the portfolio
Skills, Knowledge and Attitude
- Bachelor’s degree in Business Administration, Banking or Finance from a recognized University plus a post graduate degree in a relevant field or a professional qualification in the Banking backed up by appropriate Banking experience;
- Proven experience of at least 5 years with a reputable banking organization with proven knowledge and understanding of best market practice in collateral management and administration
- The role holder must demonstrate a depth of expertise loan administration, structuring, documentation, related security and its operations management. The candidate must demonstrate experience and knowledge of operating in a fairly complex environment;
- Ability to communicate and function in a culturally diverse and change oriented setting with good knowledge of banking practices in Africa;
- Ability to interact with senior officials of banks, corporates and governments;
- Excellent verbal and written communication skills in English. Knowledge of the Bank’s other working languages is an added advantage (French, Arabic and Portuguese);
- Demonstrated leadership capabilities, including ability to organize and manage human resources to attain goals.