Senior Specialist: Transactional Manager at Absa Group Limited (Absa)

Job Summary

• The individual will manage responsibilities within investment banking for a discrete portfolio of clients in asset finance transactions from implementation to termination and ensure that the financial requirements are executed in line with the legal agreements. Ensuring all payments, invoicing and income on a facility level are accurately executed and managed within the approved processes and controls. 
• In executing the role, the individual will interlock with various internal and external clients and stakeholders, ensuring a high level of service whilst managing portfolio risk through the correct and timely execution of business and client instructions. The individual must also align the team to the business strategy and ensure the team contributes towards change project requirement setting, testing and implementation where required.

Job Description

Key Accountabilities 

Middle Office Service Provider Responsibilities

• Contribute during implementation meetings to enable accurate and timely finance model build and drafting of the Deal Booking Sheet. Ensure the client is loaded on all relevant systems to enable timely payment to clients on the expected due date.
• Booking trades with the Trading desk and validating that trades match the finance model built after the trading desk confirms the booking.
• Amendment Asset/Funding/Hedging Trades on Front Arena
• Working with the Debt Transaction Management (Debt TM) team to ensure any updates or changes to the legal agreements are reflected in updating the finance model and the related trades booked with the trading desk.
• Monitor any required changes in the finance model (e.g., retched changes) and ensure the financial model and related trades booked with the trading desk are updated.
• Monthly recon between financial models and trading desk bookings to ensure accurate P&L.
• Monitoring all fees required per the legal agreements and Invoice fees while ensuring accuracy in calculating fees.
• Ensuring all ongoing deal management tasks are performed per the legal agreements from a financial perspective.
• Execute client subsequent drawdown instructions.
• Assist in identifying the reasons for cash breaks and providing feedback to Operations within the agreed turnaround times to enable them to clear the breaks within the required period.
• Responding to queries from internal and external stakeholders.
• Build and maintain professional working relationships with all stakeholders and clients, demonstrating excellent abilities to initiate dialogue, listen, advise, influence, and negotiate to achieve win-win outcomes.
• Adhere to Service Level Agreements (SLAs) with stakeholders concerning the processing of transactions for the respective departments/ divisions/ units. (Pan Africa where necessary)
• Ensure a healthy balance between risk management and client service.
• Adhere to processes and controls (automated/ manual checks and monitoring) to ensure the team adheres to applicable controls, processes, policies, and regulations.
• Where possible, provide input and recommendations on improving the transactions' effectiveness, efficiency, processes and controls.
• Compile relevant MIS as required by management within the deadline.
• Contribute to system and quality enhancements by monitoring the respective activities and processes implemented and by keeping abreast with new methodologies and practices
• Work closely with Products, IT, Operations, Trading Desk, TM, PCG, Operations and other key partners to secure their support and enable MO execution in line with best practices.
• Manage workload within the team ensuring the workload is adequately distributed across the team.
• Execute margin ratchets as notified by TM.
• Diarising alerts to be created for deals where credit rating-related pricing ratchets apply.
• Upon review of the compliance certificate or rating alert, advise Trader of margin increase to the extent applicable.
• Proactive engagement with the Trader to ensure clear communication and understanding so that client loan requests are executed effectively.

Risk Management Support 

• Report on the Key Performance Indicators (KPIs) and Key Risk Indicators (KPIs) for quality and performance measurement purposes as required.
• Continuous review and monthly performance reporting against key drivers (KPI, KRI and SLAs), enabling changes in the department where necessary to optimize results
• Continuous review of monthly reports and recons, ensuring all trades and fees are booked and processed correctly and in line with set standards and controls.
• Ensure processes, control requirements, and risk management frameworks designed for the area are understood and being executed.
• Assist management in closing out all issues identified in processes or controls and any audit findings that impact the area. Agree on the required actions and implement the required changes within agreed-upon timeframes.
• Ensure remediation actions are embedded within the required timelines.
• Ensure green audits by following agreed processes and controls.
• Escalate and assist in investigating all risk and loss events (Operational Risk Events) and ensure all issues raised are resolved or escalated are closed out by the relevant parties.
• Ensure the complaints process is followed and closed as per policies and procedures.

Culture

• Ensure adherence to a high-performing organisation profile
• Live the Absa values
• Continuously up-skill self and colleagues on area expertise of  Debt products, including related processes, procedures, legal, credit, compliance external market knowledge, etc.
• Always ensure all processes, controls and checks are done in the team, ensuring good teamwork, irrespective of staff being on leave.
• Upskill self and the rest of the team (where possible) to ensure they can resolve internal and external client-related issues directly with the relevant stakeholders. Only escalate to the Product/Front Office when required (in line with the escalation matrix). The Senior team has to be able to identify and resolve 80% of the challenges identified.

Innovation and Financial 

• Evaluate and ensure the correct processes and controls are followed to minimize and, where possible, eliminate operational losses, fraud, and reputational risk within the business. If any gaps are identified before any changes are made, escalate to the Head of Debt MO.
• Ensure execution of allocated BAU, SI and Project delivery within the team and bigger business are done to deliver the strategy and Target Operating Model.
• Ensure there is no revenue leakage across the Debt Middle Office, executing the correct processes and checks across the value chain to minimize revenue leakage/risk (e.g., Incorrect cost centre posting, missed review fees, incorrect entries, etc.).
• Ensure no financial losses due to operational errors.
• Contribute where possible to process re-engineering and continuous improvement of processes, controls and workflow to support the Debt operating model.
• Align to Middle Office strategy to support investment banking and group strategy overall.
• Identify/assist in solutions, supporting automation, and improving processes in the Middle Office space working with the other IB MO teams.
• Support key initiatives and projects, taking appropriate action and assisting in contributing to ensure timely and effective project implementation where dependent on MO.

Management

• Ensure staff executes responsibilities in line with department processes and control requirements.
• Manage team workload.
• Manage staff from a performance perspective.
• Drive internal and across-stakeholder teamwork.
• Assist in resolving complicated deals and queries and upskill staff where required.
• Present team in various meetings and reporting forums.
• Drive upskilling and cross-skilling of staff. Managing talent in line with the bank's values and standards.
• Perform spot checks as agreed with management and report as and when required on spot checks performed. Ensuring a high standard of work execution.
• Escalate any team concerns or challenges to management as appropriate.

Role / Person Specification

Education and Experience Required 

• Preferably B-Degree or equivalent Accounting/Finance
•   Knowledge and experience in IB Debt Products or similar operation business environment
•   In-depth knowledge and experience in the practicalities of financial models, recons etc.
•  Experience in internal stakeholder management.
•  Experience in reading, understanding and executing Legal Agreement requirements concerning financing calculations
•   Understanding of bank and regulation control requirements

Competencies: (Maximum of 8 competencies)

Financial Modeling of Debt structures

• Interpersonal people skills,
• Problem-Solving
• Teamwork and management
•  Risk and Control

Relating and networking

•  Adapting and responding to change
•  Presenting and communicating information

Education

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