Senior Legal Advisor: Recoveries
1 month ago
**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**
To create and manage an end-to-end legal recoveries capability that is recognised as a valuable and strategic the business of the Bank. The function should maximise cost effective recoveries thereby supporting the Banking and Risk Divisions and contributing to minimising financial loss and mitigating risk on behalf of the Land Bank.
**Key Performance Areas**:
**1. Strategy development and overseeing the legal recovery process including insolvency and debt collection**
- Manage various functions within Legal Recoveries in order to maximise cost effective recoveries.
- Determine what right-off is appropriate and is in the best interest of the Land Bank.
- Comply with right-off processes and policies.
- Manage and approve all outputs from the legal advisors and Specialists.
- Manage and monitor the matters that are referred to attorneys and debt collectors
- Monitor and evaluate the performance of the attorneys.
- Ensure that effective risk controls have been identified and that a proper risk control assessment is in place and reviewed annually
- Ensure that documented risks controls are operating effectively and if not that appropriate, corrective actions are taken
- Ensure that business and reputational risks associated with third party relationships are mitigated through effective service level agreement and monitoring thereof.
- Ensure that appropriate mandates are in place and reviewed annually
- Ensure that policies are in place, aligned with the recoveries strategy and reviewed annually
- Ensure that processes and procedures are documented, aligned with the recovery strategies and reviewed annually.
- Ensure effective disposal of Bought in Properties by the Bank
- Provide strategic leadership
**2. Maintain stakeholder relations**
- Oversee and manage the flow of relevant information to best inform stakeholders as to the status of the portfolio or individual clients within the portfolio
- Where appropriate generate feedback to stakeholders to improve future risk decisions and ensure past mistakes are prevented
- Ensure stakeholder alignment and satisfaction utilising sound stakeholder management techniques
- Maintain relationships with external service providers (attorneys; debt collectors, etc.) and handle their queries timeously.
- Maintain relationships with clients.
- Maintain relationships with the relevant government departments (DRDLR, DAAF, etc.)
- Ensure good communication and reporting lines with branches.
- Respond timeously to internal and external customer queries
**3. Manage budgets**
- Make budget recommendations for the Legal Recoveries and Debt Collection unit.
- Monitor expenses and ensure the cost effectiveness of the department.
- Monitor costs of fees charged by attorneys
**4. Manage information systems**
- Ensure the maintenance of the system.
- Recommend enhancements on the system.
- Monitor the monthly reports.
- Analyse the information in the system
**5. Manage land claims**
- Track all claims to ensure that maximum recovery takes place
**Preferred Minimum Education and Experience**:
- LLB degree or equivalent,
- Admission as an attorneys or admission as an Advocate, having served pupillage is a requirement.
- 7 years experience in legal recoveries / debt collection environment and litigation, preferably in a bank.
- 5 years management experience is preferable.
**Critical Competencies**:
- Financial Principles
- Experience in restructuring of distressed accounts
- Knowledge of risks and controls
- Good understanding of legal practices in South Africa
- Understanding of Insolvency legislation and practises in South Africa
**Additional Requirements**:
- Competency in English
- In depth knowledge of the Companies Act, NCA, CPA, Land Bank Act, and other relevant legislations
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