Specialist - Legal Recoveries (On/Off Balance) Sheet

Absa Group; Johannesburg; On-site; ZAR 600,000 - 900,000; Full time

Job summary

A leading bank in Johannesburg is seeking a competent Legal Recoveries Manager to oversee legal processes and optimize recovery strategies. The role entails managing relationships with attorneys and third-party providers while ensuring effective risk management. Candidates should possess a relevant Bachelor's Degree and demonstrate strong analytical and negotiation skills to thrive in a dynamic environment.

Qualifications

• Bachelor's Degree and Advanced Diplomas in Business, Commerce, or Management Studies required.
• Experience in legal recoveries is advantageous.
• Strong negotiation and analytical skills necessary.

Responsibilities

• Manage legal processes and risk assessments for recoveries.
• Negotiate settlements and engage with third-party service providers.
• Ensure effective management of the legal portfolio and financial performance.

Skills

Legal strategy formulation

Negotiation skills

Analytical skills

Risk assessment

Education

Bachelor's Degree in Business, Commerce, or 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, reset our future, and shape our destiny as a proudly African group.

Job Summary

To manage, oversee, control, and execute all operational support functions, business administration, team and personal assistant support, and logistics coordination to ensure effective business support and (internal & external) customer service delivery.

To create and manage an end-to-end Legal Recoveries capability that is recognized as a valuable and strategic business resource and as an industry leader amongst its peers. The function should maximize cost-effective recoveries, thereby supporting the Business in executing the overall Absa Group strategy.

Job Description

Accountability: Managing the assigned legal portfolio

1. Formulate appropriate recovery strategies to recover as much as possible and mitigate any additional impairment requirements.
2. Instruct panel attorneys to institute legal action against liable parties and manage legal processes until resolution.
3. Initiate, entertain, and approve negotiations or settlement proposals within personal discretion; refer outside personal mandate to the appropriate authority.
4. Provide ongoing instructions to attorneys, including evidence required by court such as factual evidence, reconciliations, and documentation.
5. Draft and summarize claims and documentation for liquidations/sequestrations and deceased estates.
6. Ensure liquidators protect the Bank's interests regarding assets like vehicles, properties, etc.
7. Assess risk by analyzing security positions to ensure correct impairment levels.
8. Perform financial and non-financial analysis to support recovery strategies.
9. Produce management reports and statistics, including reports for the Watchlist Committee if needed.
10. Manage bad debt exposures by making daily legal recovery decisions based on system information.
11. Report all risk and loss events due to fraud or errors.
12. Monitor progress on defended matters in consultation with Group Legal and submit Form B.
13. Engage with team leaders on complex matters.
14. Handle Khula claims and related queries until finalization.
15. Process new accounts within prescribed timeframes.
16. Follow up regularly on accounts and manage diary dates.
17. Ensure correct risk types and status codes are allocated.
18. Accept full and final settlements or refer outside mandate.
19. Recommend write-offs or account cancellations.
20. Attend meetings or committees as required, e.g., Watchlist Committee.
21. Negotiate with clients within own mandates on favorable terms; execute written recommendations to mandate holders or committees.
22. Request property valuations.
23. Sign documentation such as affidavits for legal actions.
24. Appear in court and present evidence as needed.
25. Decide on defending or proceeding with Summary Judgment applications.
26. Accept payment arrangements and monitor compliance.
27. Consider and accept/recommend offers on security assets like vehicles or properties.
28. Address and resolve client queries, disputes, and complaints within specified timeframes.
29. Review offers to purchase properties and make recommendations.
30. Attend auctions and visit properties or attorneys as required.

Accountability: Management of 3rd party relationships

1. Provide instructions to third-party service providers with clear guidelines and monitor progress to protect the Bank's interests.
2. Maintain effective relationships with attorneys, insolvency practitioners, and auctioneers.
3. Identify poor performance trends and recommend exits from relationships.
4. Manage legal risks related to the recovery portfolio, client interactions, and internal stakeholders.
5. Embed and maintain internal stakeholder relationships through regular interactions to resolve issues and identify opportunities.

Accountability: Financial performance of the portfolio

1. Optimize recovery cash flows through effective and timely actions.
2. Ensure security values are accurate to reflect losses correctly.
3. Investigate third-party fees and commissions for correctness.
4. Review liquidation and distribution accounts to minimize expenses and ensure accuracy.
5. Engage assertively with clients and service providers to close transactions and recover as much as possible, focusing on releasing impairments.

Education

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

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

Absa Bank Limited reserves the right not to appoint to the advertised position.