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Collateral Maintenance Officer At Stanbic IBTC

Date Posted: 21/May/2014
Deadline: 03/Jun/2014

Position Description

Main Purpose of the Job

• Attending to all aspects relating to collateral documentation and routine related aspects for the Branches.  Maintain and monitor diary system to follow up on collateral conditions of sanction and outstanding collateral items.
• Maintain and Monitor collateral.
• Attending to all aspects relating to collateral documentation and routine related aspects for the Branches.  




Key Responsibilities


Maintenance
• Obtain surrender values on a half / yearly basis.
• Obtain values of pledges on a quarterly basis.
• Follow up on ceded Fire Insurance policies  
• To follow up with the relevant attorneys on the progress of the instructions to ensure effective client services.
• Follow Up of matured/surrender policies and acknowledgement of liens (cessions bank as first loss payee)
• Investigate Collateral related queries
• Action Collateral Reports i.e. Collateral Expiry Report. Forthcoming Maturity Report, Negative Allocation Report
• Update customer data on receipt of advices/surrender values from policy companies.
• Sent reminders by phone/e-mail/letter to Attorneys and/or Branches for all cases pending with them.
• Updating and Maintaining of  Insurance , Bond/ Mortgage Diary System
• Advice branches when bonds are registered or cancelled.
• Follow up on queries pending.
• Amend Collateral with regards to receipt of ack liens and surrender values.
• Update Collateral form (F23184) or system when collateral is released.
• Any other adhoc duties

Guarantees
• Attend to payment of property guarantees
• Action cancellation of Performance bonds where no payment is to be made by bank.
• Action claims against Performance Bonds
• Action Notice to withdraw requests and Reversal request
• Action Guarantee Diary for follow up on expiry dates
• Recover/Monitoring of commission paid on a quarterly basis.
• Ensure guarantees are cancelled for calculated/paid guarantees from guarantee system.
• Archiving of all obsolete guarantees
• Recover/Monitoring of Establishment fee


Key performance measures

• Maintenance  and Monitoring of  all Guarantees and Collateral 100% accurate
• Files/records to be kept up to date and to hand at all times
• Timely and accurate submission of all required returns/reports.
• Payments and claims and cancellation to be actioned within agreed turnaround times


Key Dimensions of the job (to be completed in-country)


Daily
• Updating and Maintaining of  Insurance , Bond/ Mortgage Diary System
• Advice branches when bonds are registered or cancelled.
• Follow up on queries pending.
• Amend Collateral with regards to receipt of ack liens and surrender values.
• Amend system  with regards to collateral queries
• Update Collateral form (F23184) when collateral is released.
• Log out/Remove all released collateral documents in log book and file obsolete.
• File all collateral documents.
• Submit key measures to Johannesburg on a daily basis
• Action diary systems
• Action Collateral Reports i.e. Collateral Expiry Report

Weekly
• Archiving of Collateral
• Action Collateral Reports i.e. Forthcoming Maturity Report

Monthly
• Reconcile and ensure that the Guarantees By Bank balance.
• Collates and actions all the reports/returns before the supervisor approves them.

Method of Application

Interested and qualified? Click the Apply now button to send your application

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