Specialist - Asset ManagementApply
Remote Type: Hybrid
Location: Johannesburg
Time Type: Full time
Posted On: Posted Yesterday
Job Requisition ID: R-15966911
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 The purpose of the role as a Specialist Asset Management is to plan and execute disposal tactics of collateral security (movable and immovable security) in relation to the Relationship Banking portfolio. The incumbent is required to drive the management of the intake, storage (where applicable), and disposal of all movable and immovable assets by way of best practices to minimize the Bank's losses.
Job Description Management of Distressed Assets Manage intake of properties from the various relationship Banking business units, confirm marketing instructions, and refer to previous marketing attempts.Draft and circulate property marketing pack through internal/external sales channels and agents.Where applicable, nominate Alliance partners or Auctioneers where repossessions are to be stored and arrange for transportation to such locations. Ensure that assets are insured during transit and storage.Ensure that assets are valued by appointed valuators within seven days of book-in and confirm the fairness of the valuation report and any technical reports of relevant assets where applicable.Establish and maintain relationships with Agents and auctioneers, develop and source buyers' relationships through personal and client referrals, Absa Group Limited internal networks, and fostering greater collaboration within the Absa group.Asset Advisory and Assistance with Restructures Assess associated collateral and asset values while monitoring and analyzing portfolio performance to identify trends, risks, and opportunities.Engage relevant industry experts to gather data and provide insights for decision-making.Provide feedback on valuation discrepancies where there has been a change in value of 20% or more from the previous valuation.Provide comprehensive overview and recommendations on high-value / Watch-list matters regarding marketability, saleability, and potential risks.Advise on potential impairment impact and impairment forecast.Provide Support Service with Liens/Retentions Ensure Asset Management Admin arrange for valuations to justify any enhancement of the asset.Validate lien/retention with information and arrange for additional information if required.Negotiate with lienholders on behalf of the bank to ensure that the bank is not unfairly prejudiced.Motivate recommendation of approval or decline to be updated on the asset register for audit purposes.Management Information and Reporting Sample and ensure accounts are updated regarding location, account detail, valuation, reserve price, sales price, and availability to be sold.Assist in providing reports continuously to management in the prescribed format.Extract relevant data from the property download for general and property marketing pack updates.Collate monthly and quarterly property data for Stakeholder reporting.Data and Systems Management to produce and analyze relevant management information and insights management.Ensure Best Practices in Selling Processes with Alliance Partners, Joint Ventures, 3rd Parties and Liquidators Ensure adherence to ABSA Compliance Policy with the appointment of service providers.Ensure the asset is legally cleared for sale and that the registration documents are secure in the possession of the Asset Management Admin.Negotiate with authorities to ensure clearance of assets.Set reserve prices on the asset register prior to the Auction by taking condition and market conditions into account.Ensure that admin support captures all sale prices on the asset register for audit purposes.Determine and discuss sales strategy for properties and motivate approval of market-related deals to the relevant mandate holder in respect of received offers.Management Assets with Alliance and Joint Ventures, 3rd Parties and Liquidators Confirm marketing budget and disposal strategy as recommended by the Auctioneers.Represent Relationship Banking at the Reserve price forum in the determination of Bid figures for matters going to Sale in execution.Assist Alliance / JV in management and sale of the distressed assets.Out of hand and market-related auction offers to be recommended for approval.Risk Management: Executed through cost-effective legal recovery of outstanding debt exposure by providing specialist advice on developing a tactical strategy for managing the bank's collateral assets.
Implement and adhere to risk controls as identified from the Risk Control Assessment register.
Manage risk control items.
Ensure that reputational risks associated with 3rd party relationships are mitigated through effective Service Level Agreements and the monitoring thereof.
Governance: Ensure adherence to documented standards.Ensure adherence to processes and procedures.Ensure compliance with audit requirements.Ensure adherence to mandates.Customer Management: Investigate and resolve all escalated customer complaints.
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. About UsTruly AfricanWe are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa's largest diversified financial services groups with a presence in 12 countries across the continent and around 41,000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda and Zambia. We also have representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
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