Specialist Recoveries

2 weeks ago

Johannesburg, 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

Risk Management through cost effective legal recovery of outstanding bad debt exposure by instructing 3rd party professional service providers and engaging with internal customers in the collections, legal and insolvency process.

**Job Description**:
Accountability: Managing the assigned legal portfolio
- Formulate the appropriate recovery strategy to recover as much as possible and to mitigate any additional impairment requirements
- Instruct panel attorney to institute legal action against all liable parties and management of legal process until the matter is resolved
- Initiate, entertain and approve any negotiations or settlements proposals within personal discretion and refer to mandate official if outside personal mandate.
- Provide ongoing instructions to attorney inclusive of evidence required by court such as factual evidence, reconciliations and documentation
- Draw and summation of claim and documentation required in liquidations/sequestrations and deceased estates
- In liquidation/sequestration ensure that the liquidator is protecting the Bank's interest with regards to our assets, whether it is a vehicle, immovable property or any other.
- Assess the risk position by analysing the overall security position to ensure the correct level of impairment is raised.
- Perform financial and non-financial analysis on the client that will support and underpin the recovery strategy to be implemented for a particular group or customer
- Produce relevant management information and statistics as required. This includes reports to the Watchlist Committee if required.
- Manage bad debt exposures by taking daily legal recovery decisions and reviewing information from various systems and taking loss decisions accordingly.
- Report all risk and loss events as a result of fraud or error
- Monitor progress on defended/opposed matters in consultation with Group Legal and submit Form B.
- Engage with Team Leaders and higher levels on a matter to matter basis regarding complex matters.
- Submit Khula claim and attend to all queries until finalised
- Action all new accounts within prescribed time frame
- Follow up on all accounts regularly and manage diary dates
- Ensure that correct risk types and status codes are allocated to accounts
- Accept full and final settlements or refer if outside mandate
- Recommend write-off or canning of account
- Attend any meetings or committees as and when required, e.g Watchlist Committee.
- Negotiate with clients where necessary within own mandates, on the most
- favourable terms possible and the execution of written recommendations to
- mandate holders and or committees in respect of those matters which exceed own mandate.
- Requesting of valuations of properties
- Sign all documentation e.g. affidavits for legal action when required.
- Appear in court and present evidence when required to do so.
- Accept payment arrangements and monitor adherence to the agreement
- Consider and accept/recommend any offers on security assets like vehicles or immovable property.
- Attend to and finalise all queries/disputes and complaints from clients. If
- complaint has been officially lodged attending to and finalising it within timeframe on CCP system.
- Peruse offers to purchase (e.g. on property) and make detailed recommendation as to whether it should be accepted or not.
- Attend auctions as and when required
- Visit properties and attorneys as and when required

Accountability: Management of 3rd party relationships
- Responsible to provide instructions to 3rd party service providers as first point of entry with clear guidelines including monitoring the progress to protect the Bank's interest
- Maintain effective and professional working relationships with attorneys, EDC's insolvency practitioners and auctioneers
- Identification of poor performance trends and recommendations to management to exit relationship
- Pro-actively manage legal risks associated with the legal recovery portfolio, client interaction, internal customer interaction and other role players in the organisation
- Embed and maintain internal stakeholder relationships with Business Units
- including monthly interactions to discuss and resolve account specific issues and opportunities

Accountability: Financial performance of assigned portfolio
- To optomise recovery cash flows by implementing effective and timely action
- Ensure that security values are updated and correct as to ensure that losses are accurately accounted for in terms of policy and accounting practices
- Investigate and question 3rd party fees and commission invoices including
- Liquidation and Distribution (e.g.

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