Who we are
Established in 1940, we are a national development finance institution set up to promote economic growth and industrial development. We are owned by the South African government under the supervision of the Economic Development Department.
Our vision
We aim to be the primary source of commercially sustainable industrial development and innovation...
Read more about this company
Minimum requirements: The incumbent must have commercial qualifications e.g. BCom with post graduate degree / CA(SA)
MBA / MBL would be an advantage
Legal Qualification would be an advantage
KNOWLEDGE AND EXPERIENCE:
At least 5-8 years’ experience in a Turnaround and Restructuring environment - businesses experiencing distress.
Experience in Business Rescue advisory and processing
Knowledge of business and the diversity of risks that may affect businesses.
Good understanding of different types of security.
Good working knowledge of Chapter 6 Company’s Act, Contract, Taxation, IFRS and Insolvency legislation.
Good knowledge of Industry standards, technology trends and best practices
Roles and Responsibilities
Provide advice and support to sector SBUs and Post Investment Segments in respect of their clients who are showing early signs of operational and/or financial stress. Attend all meetings to do with the specific Business Rescue process;
Plan and execute the Business Rescue process of IDC clients experiencing distress through:
Carry out Business Reviews to 1) diagnose cause of distress and 2) ascertain reasonable prospect of client becoming operationally and financially viable;
Determine the optimum Rescue solutions that will improve the company’s viability,
Determine the optimum Financial/non-financial Restructuring intervention that can be implemented to support the Rescue strategy
Influence the Business Rescue process for the benefit of the IDC;
Evaluate Business Rescue plan presented by the Business Rescue Practitioner and recommend changes;
Safeguard IDC’s Security position through maintaining and/or improving the recoverability of IDC’s exposure,
Draft and present submission reports to various decision making committees,
Review drafted legal agreements to ensure they capture the IDC credit committee approval,
Closely monitor the implementation of the Business Rescue strategy through attending Creditors meetings; Interaction with key stakeholders; regular client visits; etc.
Regularly update the Business Advisory & Turnaround monitoring platform (SAP) iro tracking progress against process and status update notes;
Attend and contribute to the monthly Business Advisory & Turnaround Portfolio Management meetings
Prepare and present regular monitoring submissions to Portfolio Monitoring Committee
Provide efficient service to both internal and external stakeholders/clients;
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