Head of Asset Finance at Absa Bank Limited

Job Summary

• The Asset Finance Unit is a completely new function in Kenya, intended to deliver high-quality support to Corporate and Business Banking teams, by providing Asset Finance expertise, sales advice, and administration of three new core products – FlexiBuy, FlexiRent, and FlexiLease.
• Asset Finance Manager will primarily be the ‘champion’ for Asset Finance, responsible for sales of Asset Finance products, and also for managing the operations of the Unit as a whole.
• The key responsibility will be driving sales in conjunction with Relationship Teams, to assist Corporate and Business Teams to achieve their targets
• The holder will also have responsibility for the Asset Finance Unit as a whole, including all administrative processes, to provide leadership and accountability and manage the day-to-day issues and activities of the team.
• Management of the administrative processes will be undertaken by the Asset Finance Administrative Manager, who will report to the Asset Finance Sales Manager. The Asset Finance Sales Manager is therefore not expected to become directly involved in the day-to-day management of administrative issues but will be directly responsible for the unit.
• In summary, the holder of this highly innovative and challenging role will have ultimate responsibility for embedding Asset Finance in Kenya, for the product line throughout the whole country, and will be required to meet tough targets for developing the Asset Finance book.

Job Description

Key accountabilities/Deliverables/Outcomes

Accountability: sales, service and customer relationship management - Time split%: 50%

• Managing and leading customer relationships
  • Managing all Asset Finance customer relationships, dealing with issues proactively and reactively
  • Working in close cooperation with Relationship Teams, to provide a world-class Asset Finance offering to customers
  • Managing dealer and supplier relationships
  • Making product presentations to prospective customers
• Deal structuring
  • Supporting Relationship Teams, structuring deals according to tax position to best advantage the Bank and customers
  • Negotiate transactions with customers
• Sales
  • Delivering excellence in sales, developing new leads from outside the Bank
  • Using the existing corporate network to maximise sales to Bank customers
  • Performing to plans as agreed, to drive profitability and increase market share
  • Developing the profile of Asset Finance in Kenya
  • Developing and maintaining a leads database
  • Achieving the Asset Finance targets set for the entire country
  • Driving the growth of the Asset Finance book from a nil basis to £9.3m by the end of 2004
• Liaison with Relationship Teams
  • Support Corporate and Business Teams in the development and implementation of new Asset Finance products and services
  • Hosting customer meetings to sell Asset Finance, to ensure maximum taxation and structuring benefits are achieved
  • Training and development, coaching of corporate staff to ensure awareness of Asset Finance
• Managing the AON insurance relationship
  • Managing the AON relationship for insuring assets financed, including the identification of insurance needs to add value to customer relationships and reduce customer operational risks.
• Relationship building
  • Building relationships across the business, both internally and externally
  • Liasing with staff at all levels up to Managing Director
  • Building relationships with KBIs to encourage sales of the product set

Accountability: Risk Management - Time split%: 10%

• Managing the portfolio of the Asset Finance Unit, ensuring that risk profiles (book mix) are managed by sales of the correct products within approved risk management criteria
• Working in close relationship with CRST and Relationship Teams in drafting credit applications

Accountability: Staff management - Time split%: 20%

• Staff management
  • Provide a point of leadership for Asset Finance operations
  • Coach, develop and motivate staff in the Asset Finance Unit
  • Performance management of Asset Finance Unit staff
  • While the team is not large, the ultimate responsibility of the role holder is substantial
• Training & development
  • Responsibility for training and development for Asset Finance Unit staff
  • Overall responsibility for the training and development of staff

Accountability: Operational management - Time split%: 10%

• Administration
  • Overall responsibility for the Asset Finance administration department
  • Monitoring functions to ensure smooth running of day-to-day operations
  • Complaints procedures, queries, escalation dealt with effectively
• Reporting
  • Adherence to monthly reporting requirements and deadlines
  • Identifying issues and escalating appropriately
• Profit centre
  • Overall responsibility and accountability for the unit’s cost centre and budget, and Asset Finance for the entire country
• Documentation
  • Overall responsibility for the preparation of documentation, ensuring documentation is completed correctly and all procedures have been adhered to
  • Overall responsibility for the filing and safe custody systems
• Checks
  • Overall responsibility for adherence to Policy & Procedures
  • Asset Register maintained and correct
  • Reconciling records with registration documents
  • Undertaking periodic checks to ensure adherence with Policy & Procedures
  • Verification that correct deal procedures are undertaken
  • Overall responsibility for adherence with IT security procedures
• Arrears – overall responsibility for:
  • Reporting arrears to Relationship Managers
  • Processing arrears and payment defaults on IFS
  • Monitoring arrears outstanding
  • Collection of arrears

Role/person specification

Qualification

• ACIB qualification
• Accountancy qualification
• MBA

Experience

• Managerial experience
• Experience in team leadership
• Substantial experience in sales and customer relationship management

Knowledge and Skills

• Asset Finance knowledge will be beneficial but not essential
• Strong knowledge of the corporate banking product set – detailed knowledge of lending and risk assessment procedures
• General knowledge of the banking and financial environment as a whole is desirable
• Development of excellent communication skills, external and internal
• Expertise in corporate products, lending, and the risk assessment procedure
• Strong structuring and negotiation skills
• Detailed knowledge of local taxation laws and practice, including VAT