Contract Management and Contingent Liabilities Officer at Wema Bank Plc

Job Summary

To oversee and manage the full lifecycle of contracts and monitor any contingent liabilities to mitigate financial and legal risks to the organization.

Job Details

• Issue contingent liabilities such as guarantees and bonds, ensuring accuracy and compliance with regulatory requirements.
• Review terms and conditions in inward bonds, ensuring they align with the Bank’s risk appetite and policies.
• Monitor bonds for expiration dates, renewals, and modifications, ensuring timely action to prevent financial risks. 
• Draft and negotiate contracts with clients and other parties. 
• Lead contract negotiations and managing relationships with key stakeholders. 6. Develop efficient processes for contract management within the department. 
• Conduct extensive research and analysis on legal issues and topics. 
• Analyze and review complex contracts and identify potential legal risks. 
• Assess and enhance legal processes to ensure efficiency, accuracy, and compliance. 
• Participate in the development and maintenance of legal databases, systems, and applications. 
• Collaborate with the relevant SBUs to gain insights into the Bank's legal requirements and operations

Requirements

• Qualifications Minimum of a Second Class (Upper Division) Bachelor’s degree in Law from a reputable university. Must have been called as a Barrister and Solicitor of the Supreme Court of Nigeria. 

Preferred Skills

• Excellent analytical and problem-solving skills.
• Ability to work collaboratively in a team environment. 
• Strong working knowledge of Microsoft Office applications (especially Excel and PowerPoint). 
• Strong understanding of legal analysis, regulatory frameworks, and application of laws. 
• Proficiency in drafting and reviewing legal documents, contracts, and opinions. 6. Strong communication skills, with the ability to explain complex legal issues to non-legal professionals