Officer Risk Mitigation

This opportunity at Absa, based in Durban, presents a critical role in safeguarding the bank's financial health. As an Officer focused on Risk Mitigation, you'll be instrumental in managing and reducing potential losses stemming from client defaults and financial distress. Your work will directly impact the bank's bottom line by employing a proactive, portfolio-based approach to client engagement and recovery efforts, always operating within the strict confines of regulatory compliance and internal policies.

About the Role

The core of this position involves diligently managing accounts that are either in default or experiencing significant financial strain. You'll be tasked with a dual mandate: either rehabilitating these accounts to bring clients back to financial stability or, failing that, mitigating the bank's risk through effective and compliant recovery of funds and assets. This requires a hands-on approach, often involving face-to-face interactions with clients to understand their circumstances and collaboratively find solutions. The ultimate goal is to minimise financial losses for Absa while ensuring all actions are conducted ethically and legally.

Your responsibilities will span a wide range of activities aimed at both recovery and rehabilitation:

• **Account Management:** Proactively manage a portfolio of high-risk and impaired accounts, assessing their status and potential for recovery.
• **Rehabilitation Strategies:** Negotiate and implement tailored rehabilitation solutions. This could include options like debt consolidation, arranging for additional security or surety, or agreeing on forbearance and repayment plans.
• **Financial Assessment:** Conduct thorough financial assessments of clients to understand their affordability and capacity to meet repayment obligations.
• **Client Engagement:** Actively locate and engage with clients who are in default. This will necessitate travelling within your operational area for face-to-face meetings.
• **Asset Recovery:** Recover arrears and financed assets, ensuring that losses to the bank are kept to an absolute minimum. This may involve inspecting and valuing movable and immovable assets.
• **Legal Support:** Provide essential support for legal recovery processes. This includes managing repossessions, recommending accounts for write-off, and handling Sale in Execution matters. You may also be required to attend court as a witness.
• **On-site Inspections:** Conduct physical assessments of various enterprises, including businesses and agricultural operations, to evaluate their sustainability and the value of any security held.
• **Portfolio Oversight:** Effectively manage the performance of your assigned portfolio through meticulous planning, prioritisation, accurate reporting, and diligent cost control.
• **Stakeholder Collaboration:** Work closely with internal departments such as Collections, Legal, and Debt Review units, as well as external stakeholders including attorneys, sheriffs, debt counsellors, insolvency practitioners, and tracing agents.
• **Compliance and Reporting:** Ensure strict adherence to all relevant legislation, compliance requirements, service level agreements (SLAs), and Absa's internal policies. You will also be responsible for escalating and reporting any potential reputational risks.
• **Network Building:** Develop and maintain a robust network of external contacts that can assist in asset recovery and risk management efforts.

What They're Looking For

To excel in this role, candidates will need a solid foundation in collections and a specific skillset for field-based risk mitigation.

• **Education:** A Higher Diploma in Business, Commerce, and Management Studies, or an equivalent NQF Level 6 qualification, is a prerequisite.
• **Experience:** A minimum of three to five years of experience in collections is required. Prior experience in field collections would be a significant advantage, demonstrating your comfort and capability in engaging clients directly and assessing situations on the ground.
• **Licensing:** A valid driver's licence with no endorsements is essential, as travel is a key component of the role.
• **Mobility:** A willingness to travel extensively within the designated operational area is crucial for effectively performing the duties of this position.

In South Africa, roles like this often involve a base salary complemented by performance-based incentives, given the recovery and mitigation targets. Typical employers for such positions include all major commercial banks, credit providers, and specialised debt recovery agencies. Career progression could lead to senior risk management roles, portfolio management positions, or supervisory capacities within collections and recovery departments.

Minimum Requirements

• NQF Level 6 qualification
• 3 to 5 years Collections experience
• Field Collections experience advantageous
• Valid driver's license with no endorsements
• Willingness to travel within the operational area.
• Position based in Durban.

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised