Senior Specialist Credit Restructuring Advisory Group (CRAG)

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

Leading and directing the strategic delivery of the Absa CIB Credit watch-list/distressed portfolio by maintaining and embedding a solutions-focused mindset; driving and informing the right level of debate; focusing on execution within agreed timeframes, whilst achieving the desired balance between risk and reward. The role encompasses significant technical, tactical and strategic complexity, balancing the principles of risk mitigation and loss minimization whilst retaining clients where appropriate, thereby acting as a trusted risk approver/sanctioning/advisor to affected stakeholders. This role also provides a single point of contact for the CIB Credit Distressed Debt and Watch-list Portfolio exposures that are managed by the CIB Special Asset Management (SAM) Team. The incumbent will provide the necessary oversight of ARO in-country Business Support/Distressed Asset portfolios.

Job Description

Distressed Asset Review and Sanctioning Officer

• The incumbent is to provide leadership to aid the development and maintenance of appropriate and effective early warning lists and watch-list governance framework across Absa CIB segment, whilst ensuring compliance with the overall Group governance and policies for wholesale credit risk in accordance with the Distressed Asset Policy (DAP) and associated standards.
• Review of the Credit Risk Management Framework and DAP to ensure alignment.
• Absa CIB Distressed Asset Management and governance and independent review and approval of any structure/restructure proposals, limits, impairments, watch list classifications, Significant Increase in Credit Risk (SICR) application and any other relevant analysis.
• Distressed Asset Credit Decision/Sanctioning/Approval in alignment with the Delegated Mandate/Authority.
• The incumbent is responsible for providing guidance to the ARO in-country teams who are responsible for the design and embedment of appropriate governance and controls necessary to manage the Watchlist portfolios, to enable governance and control structures that provide effective management of watch listed ARO Clients.
• The incumbent is required to provide input and if required direction to the strategic management of the CIB Credit Watchlist names in conjunction with the CIB SAM team ensuring that the restructure, turnaround or exit strategies adopted take into account the reputational risks, specific country risks, sector and product risks with the objective of maintaining or reducing capital at risk as well as mitigating and reducing the risk of loss / impairment.
• To provide leadership in relation to the consistent and objective application of impairment assessments by the in-country teams, and where necessary provide challenge in relation to potential material identified impairments proposed to the relevant in-country and Group oversight committees.
• Facilitate the development of streamlined and consistent impairment reporting templates that minimize inefficiencies and enable consistent reporting and forecasting of identified impairments and material potential risks and opportunities.
• The incumbent will rely on extensive prior negotiating and restructuring experience to provide the relevant input to the ‘center’ Specialists and in country teams to enable them to maximize shareholder value in their dealings with distressed clients and relevant advisors, liquidators and Business Rescue Practitioners / Administrators.
• Review of Watchlist strategy sheets, impairment memos and review of Watchlist Meeting packs.
• Facilitation of lessons learnt engagement with risk and business colleagues to ensure an ongoing and collaborative culture that seeks to continuously improve the risk management of CIB exposures.
• Preparation of STP, MTP, RAF and other periodic forecasts relating to Impairments.
• Active involvement in automating CIB Watchlist information and processes.

Internal and External Stakeholder management

• Importantly, this role will require the incumbent to effectively manage, build and maintain strategic networks with multiple stakeholders across the Bank in particular (Senior Risk, Senior Business and Product Heads, In-Country and Centre), in relation to matters that are material from a country and center perspective.
• Additionally, the incumbent will interact effectively with voting members of the various credit governance structures and Watchlist and Impairment committees.

Credit Risk and Business Management

• Contribute to business and credit policy development that supports and enables the effective management of watch listed clients in country.
• Oversight of management of risk by in-country to ensure consistency of approach in relation to classification of WL cases and appropriate levels of Impairment.
• Ensure in-country Heads of Business Support and Recoveries and teams are held accountable for the delivery of relevant, accurate and timely management information (e.g. impairment data, loan loss ratios, coverage ratios, portfolio trends) and in particular for raising impairments in a timely manner, at an appropriate level and that reliable impairment forecasts are provided.
• Provide oversight and guidance to in-country specialists and in country teams ensuring that each client has an appropriate strategy and that the relevant in country stakeholders are held accountable for the execution of the strategy.
• To provide support as required in the effective management of higher risk situations.
• Responsible for personal adherence to governance, compliance and lending portfolio controls, ensuring own conformance to policy and procedures, including proactive management of agreed responsibilities for data integrity.

Education and Experience Required

• 3 to 5 years of experience in a Credit or Credit Restructuring Environment.
• Specialist knowledge in the management of clients facing financial distress is essential with experience of workout strategies, restructuring, syndicated arrangements, equity raising.
• Experienced at leading complex and high-profile transactions.
• Ability to lead and motivate teams and project teams.
• Excellent verbal reasoning skills, especially under pressure.
• Listening skills (including an appreciation of what other parties may be reluctant to articulate).

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 advertised.