Stanbic IBTC Holdings is a member of Standard Bank Group which is Africa’s largest banking group ranked by assets and earnings and has been in business for more than 150 years. It is a global Bank with African roots and has extensive operations in 19 African countries including South Africa and 12 countries outside Africa including key financial centers like Europe, United States and Asia making us one of the biggest banking networks in the continent. It operates in Nigeria as Stanbic IBTC Bank; a subsidiary of Stanbic IBTC Holdings.
Stanbic IBTC Holdings’ strategy is to position itself as the leading end-to-end financial services solutions provider in Nigeria. The group leverages on our market exposure to offer expert services in three core business areas - Corporate and Investment banking; Personal and Business banking and Wealth management under 8 subsidiaries.
We strive to serve all our customers exceptionally as well as invest in the growth of our people and support them to achieve their career aspirations.
• To assume full responsibility and accountability from a legal perspective and to provide full legal support to the BS&R team to facilitate prompt and speedy recoveries in respect of the existing portfolio of potential and existing non-performing loans.
• To ensure periodic review of all relevant documentation in respect of all non-performing loans in the BS&R space or all other potential delinquent loans as may be referred by Head, BS&R. In this regard, to review collateral documents for adequacy and correctness and to ensure that the bank is protected at all times; to immediately consider and recommend, at take-on, names/facilities/loans that require up-stamping and obtain prompt requisite approval for and to effect such up-stamping.
• To work with Legal Department and ensure the speedy completion of outstanding perfections of collateral covering the bank’s exposures. In this regard, to provide a focused and co-ordinated follow-up with both Legal Department and external Solicitors on those pending and uncompleted perfections that are longer than one year with a view to completing same; based on an understanding of the BS&R portfolio, to identify those stalled perfections where Legal Department is experiencing documentation challenges either internally or externally and take proactive steps to resolve same.
• To assume full responsibility and take necessary legal steps/actions in respect of accounts referred by Head BS&R or other staff of BS&R with a view to implementing swift legal actions to facilitate recoveries. In this wise, to become accountable as follows:
• To ensure attendance at meetings between the Bank, customers, other parties and their Solicitors for purposes of negotiating repayment of outstanding loans, exploring work –out solutions and amicable settlement of resolution of given cases.
• Providing legal opinion on strategies to adopt in recovery of delinquent loans.
• Carrying out any other instruction as may arise from time to time
• Compliance with statutory, regulatory and supervisory requirements, to protect the reputation of the Group and to avoid legal action/sanction in respect of regulatory compliance matters.
• Utilizing effective recovery strategies to recover money on all written off accounts either in-house or by out-sourcing.
• Ensure compliance to credit policies and procedures.
• Liaise with business partners on monitoring of accounts in early stages of delinquencies.
• Increasing awareness amongst staff of legislation and developments applicable to the business.
• To monitor, manage and control within budget or alternatively within agreed guidelines: provision adequacies, recoveries on bad debt, out-sourcing and operational expenditures.
• Keep copy of records of agreed terms with external recovery agents.
• Rendition of periodic reports on allocated NPLs.
• To liaise with relevant units in ensuring adequacy of loan loss provisions in line with CBN regulations and Group standard.
• Ensure that all the necessary systems and controls are in place to properly manage the NPL book, and maximise the rehabilitation of accounts in arrears.
• To manage and control collection strategies and campaigns within the NPL environment with the aim of maximizing collection effectiveness and efficiency.
• Ensure effective and efficient repossession and disposal processes, secure storage facilities to be in place, as well as realising any attributable security.
• Operate within delegated authority levels, and ensure that staff reporting in have sufficient levels of mandate to perform day to day operations.
• Control and manage regularisation of accounts.
• Continuously investigate and re-evaluate collection process in terms of international best practice.
• Manage the control of the Post Write Off portfolio.
• Resolve all customer queries that arise on accounts in the NPL (as allocated) category.
• Liaise with business partners on developments within PBB Credit and their needs.
• Co-operative relationships between the various participants in the credit recovery processes.
• Increase awareness amongst staff of statutory governance and legislation applicable to the Credit Control environment through appropriate training.
• Ongoing communication with staff regarding the need to ensure continual compliance.
• Ensure compliance with statutory, regulatory and supervisory requirements, to protect the reputation of the Group and to avoid legal action / sanction in respect of regulatory compliance matters.
• Monitor adherence to internal controls and regulatory requirements and enhance procedures, in need.
• Report any breaches and exposures to the business unit head and / or the division’s Regulatory Compliance Officer.
• Maintain high ethical standards to prevent market abuse.
• Provide relevant MI information to Head of BB Evaluation/Recovery.
• Control and manage all records in department on action taken.
• Implement and manage collection strategies and campaigns.
• Maintain a high level of customer service.
• Control and monitor NPL accounts outsourced i.e. Court Orders for Repossession
• Manage and maintain workflow.
• Any delegated ad-hoc function from Head of BB Evaluation/Recovery.
Key performance measures
• NPL not to exceed agreed target as per KPI.
• Manage the impairment charges.
• Systems and controls to properly manage the NPL book.
• Recovery rate of customer debt.
• Timely and accurate submission of all required returns / reports.
• Control Costs within budget.
• To provided Customer Service to internal and external customers to ensure that queries/issues are resolved expeditiously.
• Co-operative relationships between the various participants in the credit recovery processes, inclusive of attorneys, liquidators, auctioneers, trustees and debt collections agencies.
• Management of Credit Control team through performance management, career planning, on the job training, succession planning and other assistance.
Interested and suitably qualified candidates should click here to apply online.