Officer, Collateral at Standard Bank Group

Job Details

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

• Ensuring that the bank’s assets under finance are adequately insured by maintaining high level of integrity and ethical standards
• Maintain and monitor diary system to follow up on collateral conditions of sanction and outstanding collateral items
• Attending to all aspects relating to insurance covers and routine related aspects for the Bank

Key Responsibilities/Accountabilities

• To action collateral reports i.e Collateral Expiry Report and Forthcoming Maturity Report
• To attend to and investigate expiring or expired collateral queries’ and concerns for all customers.
• To act as a liaison with insurance companies and brokers.
• To manage and monitor insurance claims.
• To update customer data on receipt of advices/surrender values from policy companies.
• To recommend draw down of facilities once satisfied that all terms and conditions of sanction and/or covenants that required action prior to drawdown have been met and all required security has been obtained and is perfected and in order.
• Daily
• Forwarding insurance proposal forms to Stanbic Insurance Ltd(SIAL).
• Follow up with Stanbic Insurance Agency on receipt of insurance confirmation forms
• Receiving and confirming that insurance confirmation forms are in order, returning and following up on any incomplete ones.
• Receiving and register all insurance claim advice letters from Insurance/Client
• Receiving and verifying all insurance claim discharge vouchers.
• Dispatch logbook and supporting documents under cover of logbook release letter, following up for acknowledgment of receipt by the insurance companies
• Prepare loan liquidation instructions to Account Management upon receipt of funds in the suspense account
• Advice customer to submit a claim refund request where funds received exceed amount received
• Action collateral reports i.e Collateral Expiry Report and Forthcoming Maturity Report .
• Monthly
  • Transfer premiums from the banks suspense accounts to SIAL accounts as per the reconciliation received from the Client Experience & Shared Services reconciliation team.
  • Provide all reports required for the insurances confirmation on all products to be sent to business and debt management team
• Legislative Compliance
  • Responsible for the implementation and adoption within Collateral of all Compliance, Anti-Money Laundering and Sanctions related requirements contained in policies, procedures and processes. This includes on going due diligence of all banks customers to ensure compliance with the aforesaid laws and regulations.
• Any other duty that may be assigned from time to time

Preferred Qualification and Experience

• Business Related Degree or equivalent
• Good knowledge of the bank’s internal processes and requirements with regard to security documentation and credit processes, specifically relating the custody of all facility letters/loan agreements/collateral documentation.
• Knowledge of various legislative requirements, particularly as it pertains to credit agreements, loan documentation, legal processes, and the variety of collateral that may be used.

Knowledge/Technical Skills/Expertise

• Accuracy - To prepare documents and returns accurately, with no typographical errors and complying with the bank’s or other legal / regulatory requirements
• Prompt service - Maintaining turnaround times agreed to
• Maintaining records - Maintain all records, filing systems and record systems in place in good order
• Interpersonal skills and Relationship building - Establishing and maintaining an effective working partnership with internal customers, service providers and within department
• Self-development/skills acquisition - Actively striving to improve knowledge and skills of use to the bank
• Demonstrates the willingness and capacity to acquire the necessary level of technical competence/knowledge for the job.
• Maintains effectiveness over extended periods of time.