Hedge Fund Manager jobs in United Arab Emirates

• Sub Division: Credit and Collections - Personal Banking
• Division: Group Credit

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation.We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting & dynamic industry.

JOB PURPOSE

The purpose of this job is to directly manage the distressed assets and vulnerable accounts under the discretionary lending of the Credit Group domestically, and to maintain an oversight of all international locations where distressed assets are being managed for efficient and effective recovery of NPLs while achieving the set financial targets in terms of collection, reduction of provisions and IIS and improving the P&L.

Strategic Responsibilities

• Manage the team's assigned portfolio and achieve the set financial targets in terms of collection, reduction of provisions and IIS and improving the P&L.
• Managing, motivating and leading a team of professionals, which has a direct and substantial impact on the Bank’s P&L.
• Lead, manage and direct the assigned team in order to ensure maximum recoveries and turnarounds by offering and implementing creative financial solutions to assist and support customers.
• Lead the restructuring negotiations with clients with a focus on the recovery and turnaround of those cases considered highly sensitive and difficult, including legal action where necessary.
• Evaluate restructuring, rescheduling, workout or write off proposals and recommend it for management approval.
• Ensure that the collection process is carried out within the framework of code of conduct and keeping in mind the reputation of the bank
• Review the collections strategy regularly and train collectors to ensure that the collection techniques change with change in the legal and economic situation of the country.
• Ensure capacity planning is in place and a load-balancing is done for the unit.
• Remain in constant touch with law enforcement agencies and external lawyers and keep the unit updated on any changes anticipated in the legal scenario of the country
• Ensure low audit risk rating for the unit.
• Negotiate and work out a best possible settlement with the customer with a win-win approach
• Ensure that the collection process is carried out within the framework of the bank’s code of conduct and keeping in mind the reputation of the bank
• Set up a strong collections infrastructure for recovery of delinquent accounts through empanelment of external collection agencies locally and internationally. Maintain regular follow up with the international regions to conclude settlement plans, restructuring proposals and take necessary legal actions where needed for the managed portfolio under their respective regions, to maximize the cash recovery, IIS & provision write back and improved P&L.

Legal, regulatory and compliance:

• Ensure compliance with local legal and regulatory requirements and report any legal and regulatory developments which impact or may impact the collection activities / legal actions.
• KYC (Know Your Customer)

QUALIFICATIONS, EXPERIENCE, SKILLS AND COMPETENCIES

• Minimum of 8 years of experience in consumer banking with at least 5 years in a supervisory role