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Assistant Manager, Special Assets at Equity Bank Kenya Job in Kenya Recruiting by JobWebKenya

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Assistant Manager, Special Assets at Equity Bank Kenya

🔖 Full Time

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Job Description

Equity Bank Limited (The “Bank”) is incorporated, registered under the Kenyan Companies Act Cap and domiciled in Kenya. The address of the Bank’s registered office is 9th Floor, Equity Centre, P.O. Box – Nairobi. The Bank is licensed under the Kenya Banking Act (Chapter ), and continues to offer retail banking, microfinance and related services. The Bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Its shares are listed on the Nairobi Securities Exchange and Uganda Securities Exchange. Equity Bank was founded as Equity Building Society (EBS) in October and was originally a provider of mortgage financing for the majority of customers who fell into the low income population. The society’s logo, a modest house with a brown roof, resonates with its target market and their determination to make small but steady gains toward a better life, seeking security and advancement of their dreams

Summary

Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below.

Job Purpose

The Assistant Special Assets Manager will play a key role in the success of the Group’s management of problem accounts with a specific focus on exposures above $ , (USD Five hundred thousand only).

The Assistant Manager Special Assets ensures that the high-risk portfolio is well managed to mitigate against potential provisions and achieve write backs on where provisions have been booked in the Banks’ books.

The Assistant Manager Special Assets shall be responsible for monitoring the department’s loan portfolio and ensuring customers’ compliance with the set loan conditions and covenants.

Be a member of the Group Special Asset Management team with responsibility for supporting the Senior Special Asset Manager in the delivery of turnaround strategies to a portfolio of predominantly Mid Corporate customers experiencing financial stress and recovery action

Reporting to the Senior Special Asset Manager, the jobholder is responsible for assimilation of all portfolio documentation in the recovery files.

Job Responsibilities/ Accountabilities:

Jobholder will primarily be responsible for issuance of demand letters & statutory notices to customers. Issuance of Valuation, Repossession & Auction instructions to proffessionals plus processing of recovery costs

Jobholder will also be responsible for maintenance of client visit/meetings records, insurances, rates & rates records, plus soft copy records of all Letters of Offers, Demands, Security Documents and client information.

Monitoring covenants and document material financial changes and covenant defaults.

Monitoring account conduct and timely payment of facilities.

Manage daily, weekly, and monthly reports.

Completion of credit reference bureau checks.

Checks and due diligence activities.

Liaising with clients to collect financial and supporting documents.

Liaising with the Senior Managers to ensure timely submission and approval of memos, interim reviews,

annual reviews, and Special Assets Board Papers.

Interpreting and analysing interim and annual financial statements.

Liaising with Senior Special Assets Managers to ensure accurate covenant testing and monitoring.

Identifying, mitigating, and properly documenting risks and policy exceptions, recommending risk ratings and exposure strategies.

Attending customer visits and meeting with third party vendors such as monitoring agents, consultants, and external lawyers.

Documenting, sending, and archiving hard copy letter communications to the customer.

Following up on receipt of signed offer letters and other required loan approval documents from the customer.

Ensuring that all approval conditions are met in a timely manner.

Liaising with internal customers/stakeholders to support timely delivery of the credit process.

Support the Senior Special Manager with all the administration and operational work in the portfolio

Complete special projects when assigned.

Ensure that all required management information on the portfolio is accurate and submitted in a timely manner

Monitor, collate and analyse financial information and identify/highlight any areas that require further investigation

Ensure availability of facility contracts and charged securities are maintained through regular valuations, insurance cover, rates and rents as required for enforceability purposes.

Maintain accurate diary system to ensure maintenance and control actions are undertaken in a timely manner.

Meet the department’s learning e-learning and training goals.

Qualifications

Key Critical Competencies:

Good credit risk skills

Good relationship management skills

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

Proficiency in use of internal IT systems.

A minimum of five years of relevant management special assets in the corporate segment is required.

Knowledge and understanding of Cash flow lending required.

Ability to manage deals simultaneously.

Clear and concise communication skills.

Excellent interpersonal skills

Strong understanding of overall banking operations, systems, and processes.

Strong negotiation skills.

Willingness to travel.

Experience of working under pressure and with very little supervision

Great attention to detail.

Academic Qualifications and Competencies:

A university degree in a Business-related field.

Previous experience in turning around accounts, recoveries and portfolio management experience.

Any professional qualifications related to credit, business recovery and turning around accounts.

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