Credit Recoveries Analyst

Job Description

Key Responsibilities

• Formulate the appropriate recovery strategy to recover as much as possible and to mitigate any additional impairments;
• Instruct panel attorney to institute legal action against all liable parties and management of legal process until the matter is resolved/finalised;
• 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 review submission 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;
• Report all risk and loss events as a result of fraud and/or error;
• 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 in terms of the write off policy;
• Attend any meetings or committees as and when required, e.g monthly Recoveries meetings and/or portfolio committees;
• 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;
• Decide whether to grant leave to defend or proceed with Summary Judgment application;
• 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;
• 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;
• 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;
• Embed and maintain internal stakeholder relationships with Business Units including monthly interactions to discuss and resolve account specific issues and opportunities;
• To optimise 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 accounts to ensure correctness and to minimize the level of legal and other expenses;
• Assertive engagements with clients and service providers in order to close transactions, settlements and compromises to the benefit of the Bank focusing on the releasing of impairment requirements and recovering as much as possible.

Qualifications and Experience

• A Bachelor of Law Degree or related Insolvency or Legal Diploma
• 3 years Credit, Legal or Insolvency experience.

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Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.