Specialist - Asset Management

3 months ago

Johannesburg, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- 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

The purpose of the role as a Specialist Asset Management is to plan and execute disposal tactics of collateral security (movable and immovable security) in relation to the Relationship Banking portfolio. The incumbent is required to drive the management of the intake, storage (where applicable), and disposal of all movable and immovable assets by way of best practices to minimize the Bank’s losses.

Job Description

Management of Distressed Assets
- Manage intake of properties from the various relationship Banking business units, confirm marketing instructions, and refer to previous marketing attempts.
- Draft and circulate property marketing pack through internal/external sales channels and agents
- Where applicable, Nominate Alliance partners or Auctioneers where repossessions are to be stored and arrange for transportation to such locations. Ensure that assets are insured during transit and storage.
- Ensure that assets are valued by appointed valuators within seven days of book-in and confirm the fairness of the valuation report and any technical reports of relevant assets where applicable.
- Establish and maintain relationships with Agents and auctioneers, develop and source buyers’ relationships through personal and client referrals, Absa Group Limited Group internal networks, and fostering greater collaboration within the Absa group, Attorneys, Suppliers, Original Equipment Manufacturers, Alliance Partners, Auctioneers, Valuators, Risk Mitigating Officers, External Debt Collectors, etc. This is done to stay informed of market prices, product availability, and best practices.

Asset Advisory and Assistance with Restructures
- The incumbent is to assess associated collateral and asset values while monitoring and analyzing portfolio performance to identify trends, risks, and opportunities and make recommendations to make risk adjustments where necessary to the Collectors/ Credit Sanctioner.
- Engage relevant industry experts to gather data and provide insights for decision-making.
- Provide feedback on valuation discrepancies where there has been a change in value of 20% or more from the previous valuation.
- Provide comprehensive overview and recommendations on high-value / Watch-list matters regarding marketability, saleability, and potential risks.
- Advise on potential impairment impact and impairment forecast.

Provide support service with Liens/Retentions
- Ensure Asset Management Admin arrange for valuations to justify any enhancement of the asset.
- Validate lien/retention with information and arrange for additional information if required.
- Negotiate with lienholders on behalf of the bank to ensure that bank is not unfairly prejudiced.
- Motivate recommendation of approval or decline to be updated on the asset register for audit purpose.

Management Information and Reporting
- Sample and ensure accounts are updated regarding location, account detail, valuation, reserve price, sales price, and availability to be sold.
- Assist in providing reports continuously to management in the prescribed format.
- Extract relevant data from the property download for general and property marketing pack updates.
- Collate monthly and quarterly property data for Stakeholder reporting.
- Data and Systems Management to produce and analyse relevant management information and insights management.

Ensure best Practices in Selling Processes with Alliance Partners, Joint Ventures, 3rd Parties and Liquidators
- Ensure adherence to ABSA Compliance Policy with the appointment of service providers.
- Ensure the asset is legally cleared for sale and that the registration documents are secure in the possession of the Asset Management Admin.
- Negotiate with authorities to ensure clearance of assets.
- Set reserve prices on the asset register prior to the Auction by taking condition and market conditions into account.
- Ensure that admin support captures all sale prices on the asset register for audit purposes.
- Determine and discuss sales strategy for properties and motivate approval of market related deals to the relevant mandate holder in respect of received offers.

Management Assets with Alliance and Joint Ventures, 3rd Parties and Liquidators
- Confirm marketing budget and disposal strategy as recommended by the Auctioneers.
- Represent Relationship Banking at the Reserve price forum in the determination of Bid figures for matters going to Sale in execution.
- Assist Alliance / JV in management and sale of the distressed assets.
- Out of hand and market related auction offers to be recommended for approval

Risk Management:

- Executed through cost-effective le

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