Specialist Legal Recoveries On & Off Balance

at  Absa Bank Limited

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 main purpose of the role is to conduct 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
The main purpose of the role is to conduct 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.
Key Accountabilities:

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 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. 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.
• 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. 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

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

Financial performance of assigned portfolio

• 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 (e.g. for Capital Gains Tax) 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.

Competencies:

• Values Driven
• Digitally Empowered
• Customer Obsessed
• Exceptional Team Player
• Creative Problem Solving
• Drives Results
• Pan African Citizen

Minimum requirements:

• B-degree preferably B Com or Legal (NQF level 7) and/or
• AIPSA insolvency Diploma or other Diploma in Insolvency
• 3 years Credit, legal or Insolvency experience
• Preference will be given to South African Citizens and Permanent residents of South Africa in possession of proof of permanent resident status.

General
The appointment will be made in line with the Divisional Employment Equity strategy.
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertise

Please refer the Job description for details