Risk Mitigation Officer Pietermarizburg

2 weeks ago

Pietermaritzburg, South Africa Absa Bank Limited Full time

Bring your possibility to life Define your career with us
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

Responsible for mitigating the banks losses by following a portfolio approach by interacting, on a face to face basis with clients in default or financial distress, which will assist the client to normalise or rehabilitate their accounts, alternatively mitigate Absa risk by ways of recovery in a compliant way.

**Job Description**:
Accountability: Rehabilitation and recovery.

1. Ensure effective and efficient execution of a risk mitigation protocol aimed at: Proactive

impairment management.

2. Obtaining additional security.ie Surety ship and other tangible security to reduce risk

3. Consolidation of multiple liabilities to streamline and relieve customers from negative cash

flows

4. To be accountable for the overall performance, standards and quality in a specific area of

accountability.

5. To ensure effective cost management under pinning the potential financial benefit by doing

proper planning and eradicate unnecessary travel.

6. To ensure appropriate information sharing and documents with customers in

accordance with legislation and compliance

7. To ensure continuous and consequential reporting of potential / actual reputation risks to

Retail Collections and the Group, this may occur during day - day interaction with clients

8. To locate customers in default and deal face to face with them to create context and

attempt cost effective recovery of the assets financed and collecting of arrear installments

and minimise the loss/risk for the bank

9. Liaise with internal functional units (Collection Units) and stakeholders (Business) to

inform them of the outcome of environmental studies in order to suggest an approach

on the collections strategy, asset validation and recovery of assets.

10. Complete daily planning and prioritization in terms of risk model to execute effectively

and efficiently

11. Conduct financial assessment and provide quality information to relevant parties

supported by required documents (validation, income and expenditure, medical

certificate, insurance claim information etc.) enabling decision makers to make

decisions in terms of forbearance and lost recognition policy.

12. Do valuations of repossessed moveable assets by ways of prescribed valuation model.

13. Detailed inspection on non-moveable assets / properties on Sale in Execution accounts to

assist the Pricing Forum to determine realistic Market Value

14. Instruct the relevant collections / Legal departments to write off debt if the asset is

found to be in a unrecoverable condition and send a system instruction to the

collections / Legal agent to either transfer the account to Legal Department and to

begin the Legal Process to recover potential loses and write off to Off Balance sheet.

15. To ensure that customers are honoring the agreed arrangements in terms of various

options with in the ambit of the Forbearance Policy.

16. To liaise, network and engage with all the relevant stakeholders internally and

externally to propose best fit solution for Absa and his customers. (e.g.: Collections

department, Debt Review, Legal Departments, Debt Counselors, Attorney’s ,Insolvency

Practitioners, Executors of Estates and Tracers).

17. To closely engage and networking with the sheriffs of the court in terms of

repossession of assets

18. To engage and propose to customers the Asset disposal program on fixed property

(Help U Sell), completion and obtaining of all the necessary documentation as required

for disposal.

19. To ensure a portfolio approach with distress customers on engagement to optimise

effectiveness and efficiencies.

20. To execute onsite assessments in terms of Agriculture, Businesses, Manufacturing

plants and other enterprises to determine sustainability and security value.

21. To attend auctions as and when required as a representative of Absa.

22. To attend court cases as witness for Absa in specific cases.

23. To attend to High value accounts (Enterprise Banking), by gathering financial information to

assess the situation in order to minimize the Banks risk.

3

24. To take responsibility of daily and monthly Performance in terms of lay down

measurement criteria and agreed objectives.

25. Make well informed decisions based on information gathered from the customer with

the intent to minimise arrears and bad debt and retain clients who are experience

temporary problems.

26. Risk Mitigation Officers has a mandate to approve arrangements within Collections Strategy.
- Accountability: Conduct Risk

1. Legislative and Compliance Adherence

2. Understand and adhere to all legislative and compliance requirements related to Risk

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