Senior Specialist: Workout

2 weeks ago

Centurion, Gauteng, South Africa Land Bank Careers Full time

Job Advert Summary:


The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa's only specialist agricultural bank established in 1912, the bank's sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach.

These services enable farmers to finance land, equipment, improve assets and obtain production credit.

The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry.

As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.


MAIN PURPOSE OF THE JOB


To find innovative commercial restructuring solutions for Corporate Banking clients identified as in need of a proactive intervention to mitigate risk and prevent or minimise losses.

To give technical expertise using the turnaround methodologies to develop, implement and
monitor business rescue plan. To manage the end-to-end process of identified distressed Corporate Banking clients.

Key Performance Areas:

1. Innovative restructuring solutions to Corporate accounts

  • Obtain all the necessary and required information to conduct a full diagnostic analysis and undertake a preliminary due diligence and recommend procuring external due diligence where necessary and justifiable.
  • Conduct research through engaging various stakeholders and sources to determine long term business and financial viability
  • Conduct a business operation, industry and financial analysis of customers which have been identified for intervention
  • Critically review business plans, turnaround plans and business rescue plans to ensure that the bank's interests are protected
  • Establish the business needs and financial requirements through a needs analysis.
  • Perform a security analysis to review and assess the Bank's risk position to ensure that the Bank's interests are protected at all times

2. Manage the implementation of the approved restructure of customer accounts

  • Engage clients, all relevant internal and external stakeholders on the outcome of the restructure proposal.
  • Negotiate an equitable deal considering the Bank's interest.
  • Gather all the necessary documents required in drafting the new agreements.
  • Provide input to drafting loan agreements, equity agreements and security documents in collaboration with the Legal Team and in line with the approved Terms and Conditions by the various Credit Committees.
  • Issue the client with signed agreements.
  • Manage and coordinate the conclusion of any intercreditor agreements.
  • Check all conditions of approval (precedent) have all been complied with prior to disbursements.

3. Monitoring and Evaluation of restructured customer accounts

  • Obtain management information from client within prescribed timelines, analyse and engage clients regarding performance variances ensuring that action plans are in place to close the gaps of any negative variances.
  • Provide regular (as prescribed) performance status update for each client and represent the account at the various governance structures (EXCO, Credit Committee or Board).
  • Provide portfolio and client information to Finance Division for consideration in impairment calculation.
  • Make recommendations regarding a proposed change in strategy for the clients (e.g. debt to equity conversion, debt pardon, moratoriums, return to normal (retain), structured exit, business rescue proceeding/debt counselling, legal recovery and liquidation).
  • Engage other 3rd parties where required to intervene (e.g. government departments, potential investors, other creditors, other lender, etc.).
  • Undertake reviews (interim or annual) based on Management Accounts and Annual Financial Statements and business performance as prescribed by Bank's credit policy or Credit Committee.

4. Provide advisory services to internal and external stakeholders where required.

  • Provide advice and guidance to the Portfolio Performance Management teams and the Corporate Banking team with respect to the identification of client accounts that should be flagged for a workout intervention based on lessons learnt in managing high risk clients.
  • Accompany Corporate Banking team members on request to client meetings to provide support and expert opinion on possible workout and restructuring related issues, processes and procedures.
  • Engage in negotiations and discussion

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