Wealth Credit Sanctioner

Absa Group; South Africa; Remote; ZAR 600,000 - 900,000; Full time

Job summary

A major financial institution in South Africa is seeking an experienced professional for Wealth Credit responsibilities. The role involves assessing credit transactions, monitoring portfolios, and ensuring compliance with regulations. Ideal candidates will have a degree in finance and significant experience in wealth management. This position offers a challenging environment within an esteemed organization.

Qualifications

• Degree in Finance, Banking, Risk Management with 7 years relevant work experience or equivalent of 10 years banking experience.
• Previous Experience within the Wealth sanctioning area.
• Ability to solve problems independently, show flexibility, and act proactively.

Responsibilities

• Undertake independent assessment of Wealth credit transactions.
• Monitor the portfolio to identify risks and prepare reports.
• Ensure compliance with regulatory requirements and internal policies.

Skills

Strong analytical and writing skills

Independent decision-maker

Strategic thinking

Interpersonal skills

Leadership and team building

Coping with pressure/setbacks/Deadlines

Presentation skills

Report writing skills

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies

Tools

MS Office Skills (Word, Excel, PowerPoint)

Job description

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

With over 100 years of rich history and strongly positioned 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.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa.You are possibility.

Job Summary

Responsibility for the independent assessment of Wealth Credit transactions in line with the delegated credit mandate. The role will also require grading of credit facilities, portfolio analysis and monitoring to identify risks within portfolio, preparation of reports and engagement with the regulator/Group.

Job Description

Business Risk Management

• Undertake independent assessment of Wealth credit transactions in line with delegated credit mandates. Make recommendations to the Senior Sanctioner /Head of RBB Credit or Credit Committee where credit requests are outside own credit mandate.
• Role will include assessment of appropriateness of loan structures and underlying collaterals, securing lending requests. Nature of collaterals would cover asset classes such as marketable securities (equities, bonds, structured notes), commercial real estate, hedge fund units, limited partnership investments, residential real estate, etc.
• Diligently monitor the portfolio on an on-going basis and ensure pockets of risk within the portfolio are timely identified - be well aware of global, regional and local market events and their potential impact on the portfolio. Ensure portfolio quality remains satisfactory, and any risk concentration and risk limits do not exceed defined risk appetite and are compliant with risk policies and regulations
• Help in the preparation of reports and portfolio analysis for auditors, regulators and senior management
• Support establishment and review of risk policy, interpretation of Group requirements and setting of credit risk appetite for the RBB/Wealth portfolio and being ultimately responsible for the quality of the Wealth credit portfolio.
• Ensure all reporting/MI requirements are produced and delivered to recipients within agreed SLAs (internal and external).
• Manage delivery of service in line with Service Level Agreements with internal customers
• Be responsible for the successful design, development and implementation of any Wealth program of change, ensuring that the benefits of such change are driven out and maximized and change embedded into the business-as-usual operations.
• Drive behavioral change within the risk teams and front office staff responsible for selling credit products to achieve a sales/service culture across the market segments

• Risk Management and Control: Accountability for quality of the Wealth lending portfolio
• Support running of stress testing and credit policy changes in relation to the wealth portfolio
• Support the implementation and maintenance of robust credit systems and processes for the effective monitoring of Wealth portfolio
• Setting of product risk appetite and strategies
• Development and deliver of risk training material
• Responsible for governance issues locally and centrally in relation to Wealth portfolio. Actively own remediation efforts to address regulatory and audit findings
• Build and develop links with other Group functions to ensure that the expertise within the Group is maximized for Absa
• Continuous improvement of the Management Information base to ensure that they remain relevant, reflect credit risk appetite and are useful to provide the business with information for use in decision making and policy matters.

• Governance and Compliance: Mandatory Risk and Control Objective: Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.
• Conduct integrity checks on all extracted data to ensure correct data is incorporated into the reports
• Escalate issues identified to the data governance organisation (DGO) and Group Information Systems (GIS), work with them to improve data quality and definitions
• Escalate long outstanding data integrity issues to the Head of MI to take up at management levels
• Document and regularly update detail procedures for the extracting of data and preparation and submission of the reports
• Perform data back-ups according to the schedules and the frequency set by the business area
• Conduct UAT (User Acceptance Testing) on all new or changed systems identified issues and escalate to the Developers and ensure issues are addressed prior to the go live date

Preferred

• Degree in Finance, Banking, Risk Management with 7 years relevant work exp with minimum 5 years at managerial level or Masters with 6 years experience or equivalent of 10 years bank related experience

Technical skills / Competencies

• Strong analytical and writing skills
• Independent decision-maker
• Strategic thinking
• Interpersonal skills
• Leadership and team building
• Coping with pressure/setbacks /Deadlines
• Presentation skills
• Report writing skills

Knowledge, Expertise and Experience

• Essential: Previous Experience within the Wealth sanctioning area
• Good MS Office Skills (Preferably Word, Excel & PowerPoint)
• Good Knowledge of the financial industry
• Good Knowledge of Wealth Credit Products
• Handling and analysing large amount of data and paying attention to details
• Knowledge in modelling of IFRS parameters
• Ability to solve problems independently, to show flexibility and to act proactively

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)