Legal Recoveries Specialist at Investec

Description

• An opportunity has become available within BCB for a Legal Recoveries Specialist. The successful candidate will be highly visible and credible with key internal and external stakeholders and will be proactive in aligning risk strategies to address the business unit requirements.
• The successful individual must possess good personal communications skill that builds credibility and confidence both inside and outside BCB.
• The role requires project management and ownership of a portfolio assets that have been handed over to various legal firms, running security perfection and recovery processes and designing risk management solutions to ensure optimisation of the recovery process and ensure losses are minimised.
• Preparation of pre-legal packs and the assistance in drafting, reviewing and marking-up legal documents to fast-track external legal processes and reduce external costs as BCB scales its base.
• The candidate will work closely with the BCB transactional banking, working capital and asset finance recoveries teams.
• The role involves stakeholder management with attorneys, business rescue practitioners, liquidators, Investec business units, credit risk teams, and external service providers while ensuring compliance with banking regulations and legal requirements.

Key Responsibilities

• Engaging with defaulting clients in conjunction with the recoveries team and documenting commercial arrangements considering the financial position of client and bank's security
• Maintaining and developing relationships with internal legal team and recoveries teams across the bank on connected exposures
• Creating legal folders for Distressed portfolio
• Liaising with legal practitioners on a continuous basis when handing matters over to legal
• Developing and maintaining relationships with clients, external legal counsel and other key stakeholders
• Managing relationships and processes with external attorneys, debt collectors, liquidators and other service providers
• Ensuring compliance with banking legislation, internal policies and regulatory requirements
• Preparing portfolio reports and management information for senior leadership
• Collaborating with credit risk, legal, finance and operations teams to resolve complex cases
• Drafting of legal notices, demand letters, settlement agreements and legal correspondence
• Reviewing legal documentation and ensure accuracy of recovery actions
• Driving continuous improvement in recoveries processes and controls
• Preparing legal handover documentation for external attorneys
• Managing and taking over the administration of already implemented Stage 3 restructures and payment arrangements
• Following up and ensuring collection of implemented restructures and payment arrangements on legal (non- performing) matters
• Presenting possible restructures, write offs and recovery plans to credit
• Monitoring external service providers such as attorneys, business rescue practitioners, liquidators and 3rd party collections
• Inputting of the monthly impairments and distressed book reporting both internally in the division and at group level
• Ensuring compliance with the collection procedures and policies and review to enhance effectiveness
• Ensuring compliance with CGIC policy requirements, attending monthly meetings with the broker to manage claims, providing input into policy changes and maintaining relationship with CGIC risk members on an ongoing basis
• Ensuring compliance with SARB Distressed Restructure Directive as well as IFRS 9, Group ADR policy as well as IBCB watchlist and ADR reporting policies

Qualifications, Experience and Skills

• A qualified attorney with experience in insolvency law, business rescue, liquidation and sequestration (associate/senior associate level)
• Understanding of legal recoveries process
• Strong negotiation, persuasion and settlement skills (with internal and external stakeholders)
• Experience in bond perfection, bank security realisation, business rescue and liquidation
• Working with BCB internal legal team to document settlements, repayment arrangements and restructuring agreements
• Working knowledge of collections processes (banking recoveries a plus) 
• Understanding of legal recovery procedures and litigation management
• Contract and legal documentation interpretation
• Portfolio management and monthly reporting
• Microsoft Excel, Word and PowerPoint proficiency