Specialist Legal Recoveries On & Off Bal

Absa Group; Johannesburg; On-site; ZAR 500,000 - 800,000; Full time

Job summary

Absa Group is seeking a risk management professional to handle the legal recovery of outstanding debts. The role requires optimizing recovery strategies, managing relationships with third-party providers, and conducting financial analysis to ensure effective risk assessments. Ideal candidates will possess relevant degrees and strong negotiations skills.

Qualifications

• Required: Bachelor's Degrees and Advanced Diplomas in Business, Commerce, and Management.
• Strong background in risk management and legal processes.
• Ability to negotiate with various stakeholders.

Responsibilities

• Manage legal portfolio and formulate recovery strategies.
• Instruct panel attorneys and manage legal actions.
• Engage with clients and service providers to optimize recovery.

Skills

Risk Management

Legal Knowledge

Financial Analysis

Negotiation Skills

Relationship Management

Education

Bachelor's Degrees and Advanced Diplomas in Business, Commerce, and Management Studies

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and a strong position 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

Risk Management through cost-effective legal recovery of outstanding bad debt exposure by instructing third-party professional service providers and engaging with internal customers in the collections, legal, and insolvency processes.

Job Description

Accountability: Managing the assigned legal portfolio

• Formulate appropriate recovery strategies to maximize recovery and mitigate additional impairment requirements.
• Instruct panel attorneys to initiate legal action against liable parties and manage the legal process until resolution.
• Initiate, entertain, and approve negotiations or settlement proposals within personal discretion; refer outside mandate if necessary.
• Provide ongoing instructions to attorneys, including evidence required by court such as factual evidence, reconciliations, and documentation.
• Summarize claims and necessary documentation in liquidations, sequestrations, and deceased estates.
• Ensure liquidators protect the bank's interests regarding assets like vehicles, immovable property, etc.
• Assess risk by analyzing security positions to determine appropriate impairment levels.
• Perform financial and non-financial analysis on clients to support recovery strategies.
• Produce management reports and statistics, including reports to the Watchlist Committee if needed.
• Manage bad debt exposures by making daily legal recovery decisions based on information from various systems.
• Report all risk and loss events, including fraud or errors.
• Monitor progress of defended/opposed matters with Group Legal and submit Form B.
• Engage with team leaders on complex matters as needed.
• Submit Khula claims and resolve queries until finalized.
• Action new accounts within prescribed timeframes and follow up regularly.
• Ensure correct risk types and status codes are assigned to accounts.
• Accept full and final settlements or refer outside mandate.
• Recommend write-offs or account cancellations.
• Attend meetings or committees, e.g., Watchlist Committee.
• Negotiate with clients within mandates on favorable terms and document accordingly.
• Request property valuations and sign necessary legal documents.
• Appear in court and present evidence when required.
• Decide on granting leave to defend or proceeding with Summary Judgment applications.
• Accept payment arrangements and monitor adherence.
• Assess and accept/recommend offers on security assets.
• Handle queries/disputes and complaints, ensuring resolution within set timeframes.
• Review offers to purchase, e.g., property, and make recommendations.
• Attend auctions and visit properties or attorneys as needed.

Accountability: Management of 3rd party relationships

• Provide clear instructions to third-party service providers and monitor progress.
• Maintain professional relationships with attorneys, insolvency practitioners, and auctioneers.
• Identify poor performance and recommend exits from relationships.
• Manage legal risks associated with the recovery portfolio and internal stakeholder relationships.

Accountability: Financial performance of assigned portfolio

• Optimize recovery cash flows through timely actions.
• Ensure security values are accurate to properly account for losses.
• Review third-party fees and liquidation/distribution accounts for correctness and cost minimization.
• Engage assertively with clients and service providers to close transactions, settlements, and recoveries, focusing on releasing impairments and maximizing recovery.

Education

Bachelor's Degrees and Advanced Diplomas in Business, Commerce, and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In accordance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups to promote demographic diversity.

Absa Bank Limited reserves the right not to fill the position as advertised.