Legal and Credit Risk Administrator

Description

• To ensure that the technical aspects of surety will hold up in legal process. Accountable for the controlling of all surety related documents and ensure that documentation is managed in safe keeping. Provide efficient and effective administration support to ensure the smooth running of a functional area

Duties

• Manage costs by prevention of any losses due to imperfect collateral, match amount of collateral versus value of actual security
• Deliver exceptional service that exceeds customers’ expectations through proactive, innovative and appropriate solutions
• Maintenance of expert knowledge on relevant legislative amendments, industry best practices and provision of proactive advice and solutions to relevant stakeholders
• Verify Security “Held” according to latest approved limit in order to prevent losses
• Scrutinize correctness of currently held Security documents to ensure that it complies with the legal requirements, check if all supporting documents are in place (e.g Marital Status letters, ID documents, Company/CC Documents, Fire Cover confirmations, Valuation reports)
• Ensure that all incorrect collateral documents are redrafted thereby minimizing the risk to the Bank
• Draft new required “proposed” Security documents according to the requirements of the limit
• Draft Facility Letters and Loan Agreements as these form part of the legal agreement between the Bank and the Borrower for credit facilities granted
• Attend to Ad-hoc requests from Managers/Manager’s Assistants on a daily basis and accurately interpreting and providing information in respect of ad-hoc requests
• Provide accurate summary of currently held collateral to inform the relevant Relationship Manager or Assistant of what is kept on file
• Effective Registration and Cancellation of Bonds and follow up on long outstanding bond queries and pending instructions to ensure timeous registration
• Follow up to ensure letters of undertaking is received in time to complete Consent (F89)
• Diarise and obtain registered/cancelled Bonds within 3 months from date of registration/cancellation to ensure perfection of the collateral file
• Assist with relevant payments to provide service to customers and do payments to attorneys in time to prevent interest claims
• Filling of Bond correspondence to keep record and to comply with laid down procedures
• Inform relevant Business manager/Relationship Analyst on progress of bond registration and or cancellation to authorize payment to reduce any interest claims
• Registration and renewal of cessions to ensure that the Banks interest is noted in time
• Cancel cession with relevant financial institution when no more reliance is placed on these documents and return original document to client (where applicable)
• Attending to policies due to surrender/mature as and when instructed by account manager
• Maintaining efficient electronic tracking and monitoring processes and providing regular feedback to the Supervisor
• Ongoing general “clean up” of security files, ensuring that only current documents are retained and that the collateral file is in order at all times
• Actively take on additional responsibilities as and when required by the team to support the delivery of excellent customer service
• Provision of an efficient administration service through careful and timeous planning, reporting and updating of all related information
• Comply with governance in terms of legislative and audit requirements
• Capturing of information pertaining to bonded property ifo FNB ito Bank of Namibia requirement (BIR501)
• Cultivate and manage objective working relationships with a variety of stakeholders, including end-users, SME’s, project managers and senior staff members
• Custody over vault and monitoring of alarm system to ensure safe guarding of security documents
• Manage own development to increase own competencies

Requisites

• Grade 12 with a relevant tertiary qualification
• Experience with the operational implementation of regulatory requirements specifically to KYC and FAIS
• 2-3 years Banking Experience especially in the Credit environment with an in depth understanding of Securities/Collateral

Notes

• Only shortlisted applicants will be contacted