Securities Perfection Officer
Job Description
Working closely with the
Manager – Credit security Perfection, he /she will ensure compliance with
internal credit policies and procedures, best practices and CBK prudential
guidelines to facilitate management of credit risks within tolerable levels.
The Job holder will ensure that ALL loans approved follow the laid down securities
perfection procedures, are complete in all material aspects and safeguard the
institution from losses that may emanate from acts of negligence and
carelessness
KEY MEASURABLE GOALS.
Ensure all loans are
properly secured, insured and the institutions interest has been noted on all
securities in compliance to credit policies and procedures. Ensure that all
loans meet the loan terms and conditions before disbursement. Ensure high TAT
in security perfection processes for all approved loans.
Duties & Responsibilities
- Prepare
accurate instructions for security perfection to legal department for
securities prepared and perfected by the external legal counsel.
- Run
errands to various registries such as NTSA, KRA & Companies registries
for noting of the bank’s interest in various securities lent against by
the bank.
- Record
and continually maintain an updated securities register for all securities
for held by the bank for processed loan facilities.
- Prepare
and issue disbursement instructions for all approved loans that have met
all the pre-disbursement sanction conditions to Credit MIS for
disbursement.
- Maintain
a proper filing and secure storage system for all securities held by the
bank.
- Confirm
all securities withdrawal requests from the branches and facilitate
retrieval and release of requested securities upon approval.
- Prepare
third party letters of undertaking and takeovers for approved loan
facilities.
- Prepare
periodical collateral related reports as may be required by various
stakeholders for decision making purpose.
- Maintain
an updated insurance register for all insurance covers for all the
insurable loan securities.
- Prepare
notification letters, facility letters, variation of terms, supplementary
letters and certain security documents in accordance with laid down credit
approvals.
- Maintain
a record of the notification letters, facility letters, supplementary
letters and security documents that are sent to clients and monitor their
return.
- Monitor
and follow up on the documentation discrepancies noted on a monthly basis
for closure failure for which the same should be escalated to management.
- Conduct
periodical review and updating of securities perfection related check
lists and processes for consumption by branch staff.
- Monitor
and follow up on post disbursement conditions as they fall due to ensure
closure as per the approval conditions.
- Ensure
delivery of quality timely service and support to the bank’s various
business units in accordance with agreed Service Level Agreements.
- Review
and confirm all securing documentation before issuance of disbursement
instructions which permits the limits to be utilized by the customers.
- Update
collateral details and link the various collaterals to the facility limits
in the Collateral Management System and ensure accuracy of data in the
system so that correct security values are reported for provisioning
purposes.
- Ensure
financing structure and credit documentation are in compliance with the
terms and spirit of the credit approval and the Bank’s policies and procedures.
- Provide
clear and timely response to both internal and external stakeholder
enquiries.
- Identify
securities documentation training gaps and recommend appropriate trainings
for business units’ staff to the respective sector heads for bridging of the
same.
- Scrutinize
security and collateral documentation executed by customers for
acceptability and enforceability as per internal requirements prevailing
from time to time. To ensure adequate protection is afforded to the Bank
in the event of a need to enforce such documentation.
- Review
documentation prepared by approved external legal counsel to ensure
approved Credit and legal terms and conditions are properly replicated in
collateral documentation.
- Examine
terms and conditions of approved Credit Applications to ensure that they
are in full compliance with the Bank’s internal credit and legal policies,
procedures and guidelines prior to disbursal of approved facility limits.
- Monitor
industry trends that may pose a risk to the bank for collaterals held. I.e.
new legislations that may make certain collateral unfavorable for lending
against and advise various stakeholders for informed decision making.
- Support
debt recovery efforts made by the debt recovery unit through the provision
of necessary documentation for issuance of statutory notices prior to
realization of pledged collateral, the subsequent auction and transfer to
successful buyers.
- Liaise
with the bank’s bancassurance section for provision of insurance covers
over pledged insurable collateral.
Skills
Education
Bachelors Degree (B):
Business (Required)
How to Apply