Collateral Manager - Sandton, South Africa - Absa Bank Limited

Absa Bank Limited

Verified Company

Sandton, South Africa

1 week ago

Posted by:

Thabo Mthembu

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Description

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

CIB Middle Office is currently looking for a Collateral Manager who needs to provide assurance to the bank of the risk management on STCF (or other) portfolio's collateral from a monitoring, secured storage, and valuation perspective.

In executing the function, the role will interface with relevant external and internal stakeholders and external clients across Africa.

Ensuring a high level of service while managing portfolio risk and maximising account profitability through the correct and timely execution of business and client instructions.

The role holds some risks, as climbing on high structures and travelling to remote parts of Africa will be required.

Health and Safety tests could be a requirement for some clients before being allowed access to their premises.

The individual will be responsible for inspecting storage sites, writing reports, providing input on STCF structures from a collateral risk management perspective and reviewing the third-party service providers' service on a regular basis.

Job Description:

Collateral Management - Risk Management Support

Evaluate the Collateral Manager's service, processes, and controls at the various storage sites. Review the Facility structure requirements and check if the Collateral Manager and the client are managing the site in accordance with them.
Draft a site inspection report after each inspection in accordance with the bank's standard and circulate it internally to all necessary parties.
Flagging any potential risks, process or control gaps as soon as identified.
Ensure processes, control requirements, and risk management frameworks have been designed and implemented correctly for all service providers. Highlight to management any gaps identified.
Ensure that processes, control requirements, and risk management frameworks designed for the area are understood by all stakeholders and service providers and regularly reviewed and updated.
Assist the auditors in providing the information within the requested timelines. For audit findings that impact the area, provide input, align to the actions required, and implement the required actions within the agreedupon timeframes.
Continuously review service providers' performance and processes and provide input into service provider reviews at least once a year.
Review the Collateral Manager's legal agreement and compare it to the Facility structure, highlighting any structural or legal challenges that might be identified or that are practically unimplementable.
Keep up to date with market, commodity, country and stakeholder risks flagging to the relevant internal stakeholders when concerns are identified.

Sales and Deal Support

Where necessary, provide feedback on the service provider's performance, procedures, and/or processes to ensure that they align with the bank's expectations.
Evaluate existing and new products/services/transactions and provide recommendations on ways to improve the effectiveness/ efficiency of the related transactions.
Provide professional direction/advice on all trade financerelated matters within the unit/bank regarding Middle Office/Operational risk management and services regarding STCF.

One Africa Stakeholder Management

Ensure collaboration across Africa and globally for all internal and external stakeholders to promote unified risk management.
Work closely with the STCF Origination teams and the various incountry sales and/or operations teams to set up site inspections with clients or service providers.
Support all stakeholders in Deal Forums, Transaction approvals and/or implementation processes to ensure a sustainable and wellmitigated risk approach to roll out new transactions or remediation of existing deals where required.
Ensure SLAs and associated KRI/KPI measures are in place and monitored regularly across the STCF value lifecycle. Flag any breaches identified timeously with a suggested remediation approach.
Understand the risk and best practice requirements for each sector the bank finances in, keeping abreast of external Collateral Managers.

Culture and People

Provide ongoing training and upskilling to the bigger STCF team regarding collateral management best practices.
Provide clear leadership and guidance to the SA and ARO value chain stakeholders to achieve optimal performance for the STCF transactions.
Live the Absa values.
Ensure that we adhere to a highperforming organisation profile.

Education

Bachelor's Degrees and Advanced Diplomas:
Business, Commerce and Management Studies (required)