Commercial Recoveries Manager
Apply at locations: Johannesburg
Time type: Full time
Posted on: Posted 2 Days Ago
Time left to apply: End Date: November 12, 2024 (5 days left to apply)
Job requisition id: R24500
Job Description
Hello Future Commercial Recoveries Manager,
Welcome to FNB, the home of the #changeables. We design for the shapeshifters and deliver products and services that make us incredibly proud of the people that make it happen.
As part of our team in FNB HSL, you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now’s the time to imagine your potential in a team where experts come together and ignite effective change.
Are you someone who can:
- Ensure the reduction of loss to the Bank and increase of revenue through collections and recovery.
- Control/manage costs/expenses within approved budget to achieve cost efficiencies by monitoring legal fees payable to attorneys and liquidators.
- Establish, align, and manage targets whilst ensuring effective control of costs to increase cost efficiency.
- Achieve monthly team targets with specific focus on non-performing loans and recovering provisions.
- Control the administrative activities relative to the function of litigation, deceased, and insolvent estates by ensuring liaison with third parties (i.e., attorneys, trustees, executors, liquidators).
- Comply with governance in terms of legislative and audit requirements.
- Negotiate with defaulting clients post-handover from pre-legal team to obtain payment proposals and/or settlement of debts, failing which, maximize recovery of the Bank’s exposure through legal recourse and recovery initiatives.
- Drive the realization of the Bank’s collateral through the assistance of external service providers.
- Manage performance outputs of various external and internal stakeholders including but not limited to a panel of attorneys, liquidators, executors, auctioneers.
- Manage Bank costs in the form of legal fees, auctioneers costs, etc.
- Manage a portfolio of legal accounts and drive performance outputs to meet performance targets.
- Manage turnaround times of service providers in terms of signed SLAs – ensuring compliance thereof.
- Ensure non-performing loans eligible for write-off are processed timeously.
- Manage collateral by ensuring revaluation within acceptable timelines to ensure correct impairment reporting.
- Attend trials on defended matters.
- Attend consultations with attorneys and counsel.
- Attend auctions.
- Identify high-risk matters to be referred to LRC for consideration.
- Manage multiple properties linked to a single facility agreement.
- Manage various categories of default.
- Negotiate compromised settlements.
- Engage in legal discussions with various external stakeholders (e.g., liquidators, business rescue practitioners).
- Understand the provision impact on their respective portfolios and drive outputs that promote impairment reductions and maximum recovery.
You will be an ideal candidate if you:
- Have a Law Degree with 2 to 3 years post-admission experience or
- Have 5 to 8 years in a legal recoveries environment.
You will have access to:
- Opportunities to network and collaborate.
- A challenging working environment that is progressive and agile.
- Opportunities to innovate where initiative is taken and owned end to end.
We can be a match if you are:
- Adaptable and curious.
- Able to analyze complex data sets.
- Thrive in a collaborative environment.
Apply now if you are interested in taking the next step. We look forward to engaging with you!
All appointments will be made in line with FirstRand Group’s Employment Equity plan. The bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.
Closing date: 12/11/24
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