Head, Special Asset
Duties and Responsibilities:
· Take responsibility to ensure the identifying, locating and contacting of errant customers, and the containing, minimizing and or reducing the bank exposure and risks and business units.
• Take responsibility to for identifying potential problem accounts so that necessary action can be immediately taken to recover / decrease bank’s NPL and or to minimize the bank’s losses.
• Take responsibility to ensure immediate assessment of the NPL position, identify and contain risks, evaluate and secure bank collateral interests, and formulate remedial strategy through negotiation, preparation and finalization of re-structuring Agreement, and or taking of necessary legal action and enforcement of security if any, and the aggressive pursuance of the repayment of the overdue debt through all legal and market accepted means in accordance to the bank policies and procedures and in compliance with QCB regulations.
• Implement the Group Credit Policies and Procedures and directives set by the Credit Committee and Chief Credit Officer.
· Ensure compliance with prescribed guidelines and procedures related to credit review and approval processes [particularly Credit Administration guidelines for remedial management].
• Pro-actively participate in the preparation / updating of policies and procedures to meet the needs of current market and working environment to protect the best interests of the bank and to ensure efficient and effective process flow of the Department functions.
• Develop workable and coherent exposure reduction, asset value recovery, and overdue loans collections strategy [for the Bank non-performing Corporate portfolio] with objective of minimizing loss to the bank, in consultation with Chief Credit Officer and ensure implementation of such approved strategy, and that all collections / account receivables are paid on time and without any delays to achieve or exceed pre-agreed targets.
• Ensure thorough knowledge of details and analysis of breakdown of the bank’s delinquent [Corporate] accounts portfolio.
• Ensure that concerned Business units, Department s staff aggressively pursue their collection objectives and goals.
• Ensure the proper implementation of collection and provisioning process in accordance with the bank policies and procedures and in compliance with the bank and other relevant regulatory requirements, accounting standards, and industry norms.
• Ensure the existence of adequate physical safeguards and other controls over the repossessed assets.
• Ensure the review of oversight of local portfolio, technical and MIS reports showing updated exposure details and breakdowns, activities of the unit and the performance of the unit against agreed KPIs including performance of the Department / Unit compared to goals and objectives, and budgets.
• Ensure that customers enquiries relating to loan defaults, and provide accurate information on overdue amounts are quickly and efficiently addressed, and the bank’s expectations for early repayment is clearly articulated.
• Monitor that the bank’s Legal personnel are immediately advised of potential problematic cases, slow paying accounts, potential defaulters, and provide them with relevant legal documentation related to the exposure as early as possible so that timely action (including but not limited to initiation of [civil / criminal] legal proceedings) can be initiated to protect the bank’s interests, avoid further deterioration of the account and or initiate early recovery of the overdue amounts