To support and contribute to RAMU Division’s mandate to reduce the quantum of Non-Performing Assets by actively and effectively monitoring and analysing the assigned portfolio of Non-Performing Assets at ICD. This includes adopting the best practices to develop bespoke strategies for asset in the...
Key Functional Accountabilities and Activities
Remedial Assets Management & Provisioning Policy:
- Apply internal standards, policies, processes and procedures
- Contribute to and identify opportunities for continuous improvement of systems, processes and practices considering leading practices, improvement of business processes, cost reduction and productivity improvement
- Obtain the required information on all aspects of the asset including commercial, ICD KYC and other checks, legal and statutory, market, financial projections etc.
- Manage the assigned Non-Performing Assets portfolio through recovery efforts, restructuring, settlement or foreclosures
- Maintain complete records in respect of the assigned portfolio of Non-Performing Assets including the hard Credit Files and soft information obtained during the handover process
- Maintain complete information in respect of the latest position of the assigned portfolio of Non-Performing Assets in the ICD books
- Identify risk parameters within assigned portfolios on an ongoing basis
- Gather required information to assess and report the progress status of the assigned portfolio
- Conduct periodical reviews of the assigned portfolio including regular site visits to project sites and clients for better monitoring of the assets
- Identify and conduct the engagement process of all 3rd party consultants/advisor including legal counsel as per ICD policies and practices
Non-Performing Asset Resolution:
- Lead the internal approvals of innovative strategies and action plans to resolve Non-Performing Assets by employing an array of tactics (legal actions, debt settlements/workouts, asset swaps, etc.…)
- Initiate/ participate in the negotiations relating to financing / restructuring terms for Non-Performing Assets, whilst working alongside concerned internal parties (core business units, legal counsel, etc.…)
- Lead the handover and discharge (as applicable) for the complete transfer of all relevant information and records in respect of the assigned portfolio of Non-Performing Assets
- Identify, structure, modify workout strategies and action plans for internal management approvals and implementing the same
- Lead the due diligence and structuring process to recover or work-out asset
- Prepare term sheets, finalize legal documents in close consultation with the legal and participate in the negotiations with clients and any other parties concerned to implement the financing / restructuring terms for Non-Performing Assets Develop/use/implement specialized restructuring techniques to minimize the losses for non-performing financing facilities
- Participate in the negotiation of financing / restructuring terms for the Non-Performing Assets with external clients, government agencies and other stakeholders
- Participate in formulation of the provisioning policy for ICD
- Study, analyse, and propose recommendations for write-offs or provisions to the Division leadership
- Ensure compliance with the ICD policies and procedures and Shariah principles in respect of the assigned assets
Monitoring & Reporting:
- Periodically report progress and future action plans to the Line Manager.
- Participate in preparing reporting criteria for financing performance including internal and external requirements
- Provide relevant preventive feedback based upon the experience of RAMU recommending project approval metrics, policies and processes to avoid losses
Stakeholder Relationship Management:
- Maintain active client engagement to ensure smooth information exchange and implementation of the approved strategy
- Maintain effective liaison and coordination with the legal function / external legal counsel as well as regulators and subject experts to implement legal / turnaround strategies for classified projects
- Represent ICD in bank syndicates / creditor group meetings, Steering Committees and other forums established for coordinated recovery action on
- Work and interact with customers, attorneys, and other third-party professionals to acquire all necessary documentation, due diligence, and market intelligence
- Represent the division in the management and investment committee meetings as and when required
- Manage internal communication and collaboration with other departments to ensure support functions are available to facilitate departmental work
- Participate and provide inputs in various Control and Action/Advisory committees, as applicable to the role
Innovation & Knowledge Sharing
- Participate in knowledge sharing activities to improve project team capabilities within the Division and with other programs of the department as required.
- Effectively contribute to building organization knowledge related to remedial process and strategies
Qualifications/ Professional Experience
▪ At least 3 years deal experience preferably in an investment banking and debt restructuring environment.
▪ Bachelor’s Degree in Finance/Banking or any relevant discipline is a must.
▪ A certificate in CFA, CMA, CPA, Islamic Finance or any other additional relevant professional qualification is a must.
▪ Strong applied understanding of Legal Documentation in Islamic Finance context
▪ High proficiency in Report Writing and Business Communication
Capable of communicating in two of the working languages (Arabic, English and French) of which English is a must.