Corporate Recovery Manager-legal

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

• Be a member of NBC Business Support and Corporate Recoveries Team with responsibility for the delivery of recovery strategies to a portfolio of Corporate Customers experiencing financial distress
• Responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realizes the maximum return in the shortest possible time.
• Responsible for a portfolio made up of the most involving and complicated corporate and business banking recovery accounts, a selection of which have the highest provisions raised on them, those with the highest exposures, and those which are politically sensitive.
• Ultimately responsible for all EWL 3 and classified corporate accounts in-country. Proactively review and identification of all accounts on clean and EWLs that are to be transferred to Recoveries
• Acts as a point of contact for the local Credit Risk Director, and BBS team throughout EWL to discuss specific problems, and recommending solutions or strategies in acting capacity in the absence of BBS&CR Team Leader
• Act as a liaison of the department with Legal, RCU, Finance and BBS Group

Main Accountability and approximate time split

Recoveries and Service =75%

Outputs:

• Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding the agreement to, and implementation of, strategy, e.g. Settlement proposals, etc.
• Lead proactive formulation and implementation of strategies on managed exits/recoveries.
• Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the banks Brand.
• Manage politically sensitive customers and recover debts from them in a professional manner which leaves a good impression of them about the bank.
• Act as a reference point for Corporate Recoveries and credit teams for discussions on specific cases or where more general input from a BBS & CR “specialist” is required.
• Ensure appropriate recovery is achieved and generally provide pragmatic and effective legal support to general management and business functions on impaired debts of the bank
• Manage the achievement of service levels and quality.
• Prepare and submit necessary returns to the local regulatory authorities and Head Office on impaired debts
• Ensure that the necessary sanctions are obtained from superiors for strategies and expenditure whenever necessary.
• Be the secretary of the local Board’s Loans Review Committee, and also the Provisions Committee and be the custodian of the minute books of the Committees.
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• Raise provisions if required.
• Sanction of Case Manager Applications within own discretion.
• Prepare and submit reports to CMC, the local Board, and its sub-committees.
• Monitor the relationships with the bank’s service providers, especially with regards to fees charged by lawyers and service level agreements with them.
• Ensure that all classified corporate files are properly maintained and have up to date file notes.
• Ensure data integrity is maintained.
• Prepare summons instructions to external lawyers and manage recovery of debts through the courts, including disposals of debtors’ assets.
• Manage relationships with external service providers such as liquidators, executors, sheriffs, messengers of court, accountants, receivers, judicial managers, valuators etc who provide services to matters in Corporate Recoveries.

Business and Risk Management -20%

• Progress the recovery of debts on classified Corporate accounts and ensure their compliance with local regulatory requirements and the bank’s internal procedures
• creation and updating of CCRS / Credit Applications ensuring mandatory policy and procedures have been adhered to and that technical and security matters are correct
• Develop network of contacts internally and also with local external professionals in order to maximize effectiveness in assisting customers.
• Promote the BBS & CR team to internal audiences (including relationship and credit teams and group companies) and professionals.
• Transfer account responsibility out of team when appropriate, including possibly to a BBS Team

Staff Management-5%

Outputs:

• Responsible for a small section within the Team
• Set objectives, drive performance and provide feedback to ensure targets are met.
• Use management information to monitor and provide feedback to ensure targets are met.
• Identify risk skills gaps, and communicate and meet identified training needs by effective coaching and counseling.
• Provide assistance and advice to team members in formulating strategies regarding the more complicated accounts in their own portfolios

Qualifications

Bachelor`s Degrees and Advanced Diplomas - Law, Digital familiarity (Meets some of the requirements and would need further development), Experience in a similar environment at junior specialist level, Openness to change (Meets some of the requirements and would need further development), Process optimisation (Meets some of the requirements and would need further development), Reasoning (Meets all of the requirements), Risk Management (Meets all of the requirements)