Job Advert Summary
The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit. The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people
MAIN PURPOSE OF THE JOB
To proactively monitor the credit health and risk on assigned Commercial Portfolio of client accounts with exposures of more than R1 million; in terms of the loan agreements and provide regular reporting on the overall performance of the portfolio. To undertake the execution of the risk and loss mitigation strategies throughout the loan monitoring and arrear management value chain in an effort to improve the quality of the book, thereby reducing the account flows to underperforming and non-performing statuses
Key Performance Areas
1. Proactive Portfolio Monitoring Management
Monitoring of the expected Instalment due
• Draw list of expected instalments from the IT system 3 months in advance
• Verify instalment amounts to ensure correctness and rectify if need be.
• For final instalments; verify calculations and ensure cancellation costs have been included
• Upon receipt of the debt review notification; undertake the debt counselling process as per the NCA.
Conduct Financial Analysis
• Obtain the Management Accounts/ audited financial statements as per the loan conditions timelines and conduct a financial & risk assessment utilising the appropriate risk tools
• Depending on the outcome of the assessment; follow the appropriate strategy as per the PMS Policy and compile a report on the outcome of all assessments highlighting risks, irregularities, business deterioration and insights.
• Utilising the catalogue of early warning signals, risk tools as well as the agronomical assessments obtained from the Specialist: Agricultural and Advisory Support; identify signs of distress and report where necessary to Portfolio Manager;
Proactive Collateral Management
• Release valuations on the Collateral Management System (CMS) once the upload is concluded upon receipt of the CMS report;
• Manage securities on the client account by initiating CMS inspections prompted by the diary system as well as valuation expiry reports and update the Loan Condition Register at the required intervals
• Draw and analyse CMS coverage gap report to identify gaps and take steps to bridge collateral coverage gaps by acquiring additional security or redemption of debt;
• Ensure that the bank’s security is maintained and pre-empt any possible deterioration.
• Initiate ID Sure verification scanning inspections on Micro-Chipped Livestock
2. Proactive Arrears and Default Management
• Obtain relevant application forms and supporting documentation for all referrals and escalation to respective areas and write a hand over memorandum and obtain approval before changing the client
• Undertake the Loss Mitigation Strategy for Habitual defaulters and non performing clients
• Request agronomical assessments, financial assessments, risk rerating and collateral inspections to be undertaken by the Specialist: Agricultural & Advisory Support
• Capture the outcome on the relevant systems highlighting risks, and actions taken to rectify the arrears including the new rating and updated asset values
• Send final letters of demand to clients (Sec 129 NCA) or Section 33 of Land Bank Act
• Send letter to clients indicating listing at Credit Bureau as per Sec 70 of NCA for Debt Collection purposes
• Where appropriate, visit the clients to discuss the way forward
• Obtain approval from the relevant credit committees regarding change in members/ trustees/ directors and sureties of pre-legal arrear clients
• Obtain approval from the relevant credit committees on release or leasing of security (person and / or property).
Drive and ensure adherence to the governance, risk & controls and management thereof in line with the Land Bank’s Risk & Compliance Framework
• Maintain customer account information on the bank’s systems in line with the Bank’s current records management policy.
• Keep records of all correspondence with clients as part of record management.
• Manage client files in terms of the Bank’s current Records Management Policy. Compile various reports as required for the different governance structures and obtain sign-off and approval from Specialist before sending out reports.
• Maintain the relevant systems as required.
• Ensure compliance to bank policies as well as legislation
4. Manage Stakeholder Relationships
• Ensure continuous engagement with service providers including attendance and/or participation in the relevant forums as applicable to ensure a hands-on approach and effective collaboration
• Provide insights to credit on reasons for defaults and litigation to assist enhancement of credit granting provisions, use of risk indicators and reduction of errors;
• Establish and maintain effective stakeholder relationships.
• Stay abreast of industry trends to ensure proactive management of business performance;
Preferred Minimum Education and Experience
• 3 year Bachelor degree/or advance diploma
• 3-5 years experience in:
• Account Management / Client portfolio management
• Debt recovery /Collections
• Business / Credit Analysis
• Financial Analysis/Spreading
• Financial & Risk Management including Assessments
• Business Acumen
• Agricultural Economics value chain
• Relevant Legislation
• Collection& Recoveries Management
• Portfolio Management
• To assist and stand in for the Portfolio Manager as and when required
• Travel as and when required.
• Extended hours as and when required.
• Valid SA Driver’s License