Head, Vehicle and Asset Finance at Stanbic IBTC

Job ID: 33599
Location: Lagos Island
Job Sector: Banking

Job Details

• VAF & Fleet

Job Purpose

• To grow and develop the Vehicle and Asset Finance portfolio of the Bank, through cultivation of new business relationships, strengthen of collaboration alliances as well maintain existing business relationship in a profitable and professional manner.

Key Responsibilities/Accountabilities
Monitor and deliver the financial budget of the Vehicle and Asset Finance department though the interplay of the Sales Relationship Managers and the Branch network and other enablers:

• Organise special joint campaigns with dealers and suppliers of asset to increase sale activities:
  • Interview customers applying for finance in an effective and professional manner.
  • Conduct transaction review meetings with customers with regards to structure, responsibilities, asset monitoring, insurance cover and other aspects of lease finance.
  • Ensure prudent application of new business margins to maximize returns.
  • Ensure that assets financed by the bank are adequately protected by means of proper pre & post disbursement conditions of credit approval.
  • Explain, promote and sell VAF offerings and solutions that meet the financial needs of business and personal banking customers. Selling includes acquiring new business transactions.
  • Cross-selling bank’s products & services to new and existing customers. It includes mining existing customer data to identify expansion and/or additional VAF opportunities.
  • Assist branch Relationship Managers and Account analysts on issues relating to VAF in the Personal, Business and CIB space.
  • Performing a liaison role between customers and back - office service fulfillment and credit functions.
• Accurately and efficiently processing customer mandates/ documentation requirements for banking facilities.
• Educating customers (internal & external) regarding the parameters and process flow governing Vehicle and Asset Finance product offerings to ensure the correct customer behaviour and product usage.
• Support customers in the completion of Vehicle and Asset Finance application form /Letter and provision of supporting documents.
• Notify customers and RMs regarding the approval of credit loan facilities.
• Conduct a needs analysis to identify customer needs effectively when opening new accounts or giving product advice.
• Adhering to record keeping requirements as outlined by CBN and the Nigeria Financial Intelligence Unit (NFIU).
• Adhering to the prescribed turn-around time of VAF transactions.
• Attend joint calls with Relationship Managers and Branches

Manage the Vehicle and Asset Finance Portfolio and Sales activities:

• Monitor all performance triggers to ensure they remain within the risk appetite and work with relevant stakeholders for correction when in breach.
• Attend Watch list meetings for customers on watch list and provide feedback and proactive measures to cure ailing accounts.
• Ensure collection of overdue or delinquent accounts working with the Business Solution and Recoveries.
• Monitoring Pre-NPL and NPL performance of Commercial and Business Banking clients.
• Report on weekly basis Sales and Delinquent account.
• Monitor processing of loan applications and credit investigations and collateral and make recommendation.
• Present large ticket transactions at Credit Committee.
• Organise periodic visit to Dealer floor and organise period joint campaigns.
• Design marketing plan for the product in conjunction with the marketing Team and dealers on special sales events.
• Recruit personnel and identify their training needs
• Interview corporate and individual customers and respond to customer enquiries
• Analyse, review and approve or reject loan and credit applications in accordance with risk Appetite parameters
• Formulate and cascade Budget for the year to the Team and track progress.

Develop and improve process for Vehicle and Asset Finance:

• Attend and develop a framework for all collaboration operations meeting between the Bank and its partners -Ford Credit, Caterpillar Financial Services/Mantrac, and John Deere.
• Attend all new product lunch in relation to asset covered under the Product Parameter.
• Review process and product parameter.

People Development:

• Ensure implementation of Performance Development Plan of respective team members.
• Train Customer Care Contact, Relationship Managers on periodic basis
• Enlighten the dealers and suppliers of vehicle and asset on the process and procedures of VAF from time to time.

Preferred Qualifications and Experience

• A first degree, with a minimum grade of a second class lower
• Membership of the Certified Pension Institute of Nigeria or/and Equipment Leasing Association of Nigeria would be an added advantage

Knowledge/Technical Skills/Expertise:

• Customer Service and Sales:In-depth experience in banking and banking products, asset finance, Credit and Collection
• Taking Action: taking action in service of achieving the organisation's goals. It is about being energetic, showing initiative and being action oriented.