Vacancies at I&M Bank

PURPOSE:

The role is responsible for

• Overall responsibility for the delivery of recovery strategies to a portfolio of Asset Finance (Hire Purchase) & other loan accounts experiencing financial distress.
• Responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realises the maximum return in the shortest possible time.
• Responsible for a portfolio made up of fast depreciating & highly moveable assets, thus a need to ensure prompt & speedy strategies & actions to recover debt.
• Ensure that the bank does not incur losses in terms of non- performing loans under the bank’s portfolio. This is achieved through constant engagement with bank’s branches and customers whose accounts are already in the NPA category &/or regularly under Watch categories with arrears &/or excesses.
• The job entails a balance between safeguarding customer relationship and the need to ensure recovery of outstanding debt with minimal delays.
• Ultimately responsible for all classified Non-performing accounts.
• Acts as a point of contact for the Debt Recovery team in the various Credit, NPA forums to discuss specific problem cases, trends and recommend solutions or strategies that can inform future lending policies.

PRIMARY RESPONSIBILITIES:

Debt Management and control:

• Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding debt settlement and implementation of debt settlement proposals.
• Lead proactive formulation and implementation of strategies on managed exits/recoveries.
• Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the I&M brand.
• Prepare and submit necessary returns to the local regulatory authorities and Head Office on impaired debts
• Ensure that the necessary approvals are obtained as per the delegated approval matrix for strategies and expenditure whenever necessary.
• Prepare and submit required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
• Ensure data integrity & quality control of facilities is maintained.
• Prepare summons instructions to external lawyers, valuers, auctioneers and other professionals to manage recovery of debts through the courts & professionals, including disposals of debtors’ assets.
• Manage relationships with external service providers such as receivers, liquidators, reppossesors, valuers, auctioneers, lawyers, debt collectors, etc who provide services in relation to  Debt Recovery.

Risk & Control Objectives

• Process the recovery of debts whilst ensuring compliance with local legal, regulatory requirements and the bank’s internal procedures.
• Ensure satisfactory Internal or External Audit Reports
• Ensure satisfactory Conformance assessments
• Ensure Impairment Management and MI Reporting is produced accurately and on time.

PERSON SPECIFICATIONS

Academic Qualifications

• Bachelor of Commerce, Specialization in Accounting

Professional Qualifications

• Diploma in Credit Management.
• CPA (preferred)
• Professional Banking qualifications (e.g. ACIB)

Experience

• Experience in both corporate relationship management and credit risk analysis
• Experience in  dealing with senior management of corporate entities
• Good knowledge of the local legal system, insolvency law and security issues, and the options available to the Bank.

Skills and Attributes

• Good credit risk skills
• Effective communicator.
• Excellent negotiation and influencing skills
• Good relationship management skills
• Strong commercial awareness
• Good interpretation and decision making ability
• Strong analytical and numerical skills
• Strong communication and report writing skills
• Good knowledge of Microsoft Excel and other spreadsheet/database applications
• Strong planning, coordination and time management skills

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Key Duties / Functions

Remedial & Recoveries             

• Assessing the level of provisions requirement for all NPA accounts and write offs managed in line with the firm’s policies and procedures including approval.
• Liaise directly with clients, third parties and colleagues in other departments to maximize collections performance whilst also ensuring good client outcomes
• Deal with processing loan workouts, rescheduling and rehabilitation, acceleration of repayments, enforcement and foreclosures, liquidation and administration of assets and collateral and implementation of various forms recovery strategies.
• Submission of the required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
• Ensure satisfactory Internal or External Audit Reports including CBK.
• Identify accounts requiring collection agency or legal action and coordinate collections with third party contractors.
• Monitoring, reviewing and reporting the portfolio performance and ensuring proper asset classification and provisioning for loans and advances as well as the analysis and reporting of the quality of the loan book and arresting negative trends.
•  Being a member of the NPA Committee, reviewing and following up non-performing accounts, ensuring agreed remedial actions for non-performing accounts at minimal cost.

Governance and Controls, compliance, and Risk Management

• Submission for third party empanelment and any CBK approval for the same
• Compliance of directives form CRMC. BCC and Board
• Review of CBK and IFRS provisions for all NPA customers.
• Ensure all management reports are submitted accurately and on time.
• Stakeholders’ management including various service providers like auctioneers, lawyers, etc

Decision making and accountabilities

•  Respond to credit internal and external Audit queries and provide action plans and execute recommended actions.
• Participate in budget development for the loans and loan loss provisions and department initiatives for NPA accounts.
• Assessing and review of suitable recovery measure for all NPA accounts such as restructuring, receivership, administration, sale of assets, etc
• In-depth analysis of cash flows and financial of the company for appraisal as per credit request from customer and recommending suitable way forward to CRMC/ BCC.

Clients

• Reviewing and recommending and amending the Banks panel of service providers with confirmation from CRMC/BCC, the panels include Valuers, auctioneers, investigators
• Review Service level Agreements with the service providers and manage the agreed timelines and processes and quality of work.
• Reviewing and recommending the external service providers to be included in the Bank’s panel- Valuers
• Regular Site visit and discussion with the customers.
• Witness on various legal cases on behalf of the Bank
• Provision of various responses to Administrator or other stakeholders.

Skills, competencies & experience

• Bachelor’s degree plus Professional qualification
• 10 – 12 years of supervisory and managerial experience
• Judgement to balance commercial debt recovery and compliance risks to achieve positive outcomes
• Advanced credit, financial analysis banking and good knowledge of prudential guidelines
• Good understanding of legal risks and laws applicable to Banking and Finance relating to lending and credits documentation.
• Maintains the highest professional standards
• Excellent communication and leadership skills with an ability to influence at all levels
• Excellent organizational skills
• Decision making and problem solving
• Have a good network in the banking industry and industry knowledge
• Proficient in Microsoft Office applications, excel word, PowerPoint

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Purpose

The Debt Recovery Senior Associate maintains a good relationship with the customers and tries to resolve any issues or disputes. The role holder will also be responsible for updating the records of the accounts and following the legal procedures for debt recovery.

Primary Responsibilities

• Monitor, collect and manage problem account portfolio within all customer segments and return the accounts to performing status, reduce slippage into NPL and/or recover entire outstanding accounts as well as fulfil any other duty assigned by the Senior Manager – Debt Recovery all towards contributing to improving the Bank’s credit risk profile and asset quality.
• Demand, and enforce repayment of the assigned problem accounts.
• Collect and writeback to profit and loss from assigned accounts within set targets.
• Monitor arrangements for payments from problem account holders.
• Attending public auctions as Credit Bank’s representative.
• Liaise with Legal Department on recovery litigations and where legal interpretations are required.
• Conduct detailed negotiations with customers, obtain commitment to implement appropriate strategies and actions to cure accounts as well as collect overdue payments.
• Analyze and recommend for approval turnaround/cure propositions, strategies and actions demonstrating well thought out judgement.
• Manage customer relationships where turn around strategies have been activated to ensure cure of accounts as well as manage the Banks credit risk exposure.
• Proactively manage relationships with key stakeholders, internal and external including service providers, potential off takers of assets held as collateral, etc.
• Represent the Bank in lenders meetings for syndicated or problem accounts.
• Prepare and submit required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
• Prepare and submit regular and adhoc problem account reports as required.
• Maintain proper Debt Recovery documentation. Ensure timely issue of relevant notices to customers that form the debt recovery process, ensure that all 90+ days past due files are properly maintained and have up to date file notes and ensure data integrity for all 90+ days past due is maintained.
• Ensure data integrity & quality control of facilities is maintained.

Person Specifications

• Bachelor’s Degree in Commerce, Finance, Economics, Mathematics, or other quantitative or science degree in related fields;
• Proven track record of consistently meeting set targets.
• Agility, versatility, passion, and commitment to quality service delivery.
• Knowledge in legislation relating to lending and lending portfolio management.
• Have at least 4 years’ experience in a credit recoveries role.
• Excellent knowledge of data analysis and Microsoft Excel Skills will be an added advantage

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PURPOSE:

The position is responsible for preparation of letters of offer and internal documents. This is to ensure and maintain high quality loan book and to safeguard the Bank’s interest by obtaining timely, accurate and complete internal documentation. Additionally, tracking and monitoring of covenants and other conditions of sanction.

Primary Responsibilities

• Review approved credit applications and check adequacy of approvals as per delegated approval matrix and credit policy as well as approved sanction terms.
• Prepare loan contracts between the borrower and the bank within the set service level agreement, incorporating all the sanction terms, covenants and conditions accurately to ensure the bank’s interest are fully protected to and any financial losses are avoided.
• Review collateral information provided in the credit application and confirmation of the same against collateral information maintained in the core banking system and legal security docket to ensure the correct security details are captured in the loan contracts, for risk mitigation and avoidance of financial and legal risks.
• Prepare requisite internal documents within the set service level agreement.
• Ensure efficiency in tracking, scanning, delivering and dispatching approved and duly signed letters of offer and internal documents.
• Ensure compliance by adherence to credit policies and procedures.
• Correspond with relationship Managers/Branch Managers and Legal department on all issues relating to preparation of Letters of offer and internal documents.
• Track and Monitor covenants and conditions of sanction.

Person Specifications

• A business-related degree holder from a recognized University.
• At least 3 years' experience in Credit.
• CPA, ACCA is an added advantage.
• Good knowledge of Credit and Trade Products.
• Good understanding of the banking act and prudential guidelines.
• Good knowledge of Banking system.
• Good understanding of legal risks and laws applicable to Banking and Finance relating to lending and credits documentation.
• Basic banking and fair knowledge of CBK prudential guidelines.

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Job Purpose

The role holder is responsible for giving independent assurance on Governance, risk and control (GRC) across business processes.

Key Responsibilities

• Plan audit assignments, including analyses and assessment of risk in liaison with the Manager, Assurance.
• Develop planning document, secure alignment on goals, methodology, scope, risks as well as tests with the Manager, Assurance.
• Conduct audit tests of specified areas.
• Maintain audit evidence and working papers to support conclusions and recommendations.
• Continuously assess audit objectives, test goals, and risks for comprehensive coverage.
• Identify and emphasize critical weaknesses and risks for final report approval.
• Collaborate with audit clients for accurate root causes and relevant management actions.
• Prepare draft reports with the Manager, Assurance, collaborate with peers on special and thematic audits.
• Close projects in audit software for streamlined implementation tracking.
• Assist in the following up and conclusive resolution of cleared audit issues logged from previous audits.

 Job Specifications

Academic Qualifications

• Bachelor’s Degree in Finance, Accounting, Business or any other related course
• Professional Qualifications / Membership to professional bodies/
• Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA)

Work Experience Required

• Over four (4) years in a similar role in a similar sized organization

Competencies:

• Planning & Organizational skills
• Analytical skills and attention to detail
• Strong oral and written communication skills
• Interpersonal skills to manage stakeholders at all levels
• Ethics and integrity
• Excellent judgment and analytical abilities and impeccable integrity.
• Strong commercial awareness and an ability to connect to business goals
• Banking Knowledge
• Risk Knowledge