Officer Risk Mitigation

At Absa, a leading African financial institution with a heritage spanning over a century, a significant opportunity exists within their Durban operations for a dedicated professional to join their team as an Officer Risk Mitigation. This role is integral to safeguarding the bank's financial health by proactively managing client accounts that are in default or facing financial distress. The core objective is to minimise potential losses for Absa while also striving to assist clients in overcoming their financial challenges, ultimately aiming to normalise or rehabilitate their accounts wherever possible.

About the Role

This is a hands-on position that requires a strategic and empathetic approach. You will be responsible for a portfolio of high-risk and impaired accounts, employing a structured methodology to engage with clients. The ultimate aim is to find mutually beneficial solutions that either bring accounts back into good standing or, failing that, to recover funds and assets in a manner that is compliant with all relevant regulations and company policies. This involves a blend of financial assessment, negotiation, and potentially legal support, all while ensuring the bank's risk exposure is effectively managed. The role demands a proactive stance, anticipating issues and implementing solutions before they escalate.

The responsibilities of the Officer Risk Mitigation are diverse and critical to the bank's operational success. Key duties include:

• **Account Management and Rehabilitation:**
• Proactively managing a caseload of high-risk and impaired client accounts.
• Developing and negotiating tailored rehabilitation solutions. This could involve debt consolidation, arranging for additional security or surety, or implementing forbearance and revised repayment plans.
• Conducting thorough financial assessments to evaluate a client's affordability and capacity to meet repayment obligations.
• **Recovery and Loss Mitigation:**
• Locating and engaging with clients who are in default, often through face-to-face interactions.
• Implementing strategies to recover arrears and financed assets, with the dual goal of maximising recovery and minimising financial losses for Absa.
• Conducting inspections and valuations of both movable and immovable assets to ascertain their security value.
• Supporting and managing legal recovery processes, including orchestrating repossessions, preparing write-off recommendations, and overseeing Sale in Execution matters.
• Attending court proceedings as a witness when required.
• Undertaking on-site assessments of various enterprises, including businesses and agricultural operations, to gauge their sustainability and the value of associated security.
• **Portfolio Oversight and Stakeholder Collaboration:**
• Effectively managing the performance of your assigned portfolio through diligent planning, prioritisation, reporting, and cost control measures.
• Collaborating closely with various internal departments, including Collections, Legal, and Debt Review units, as well as external stakeholders such as attorneys, sheriffs, debt counsellors, insolvency practitioners, and tracing agents.
• Ensuring strict adherence to all applicable legislation, compliance requirements, service level agreements (SLAs), and internal Absa policies.
• Cultivating and maintaining strong professional networks to enhance asset recovery and risk management efforts.
• Identifying and escalating potential reputational risks to the appropriate internal stakeholders.

What They're Looking For

To excel in this role, candidates will need a solid foundation in financial services and a proven track record in collections. The essential requirements include:

• A qualification at NQF Level 6.
• A minimum of three to five years of experience in collections.
• Experience in field collections is highly advantageous.
• A valid driver's licence with no endorsements.
• A willingness to travel within the designated operational area.
• A Higher Diploma in Business, Commerce, and Management Studies is required.

Absa is committed to fostering an inclusive work environment and operates as an equal opportunity, affirmative action employer. In accordance with the Employment Equity Act, preference will be given to candidates from designated groups to ensure equitable representation and diversity within the workforce. Absa Bank Limited reserves the right to make or not make an appointment based on the needs of the organisation.

For individuals based in South Africa, roles like this in risk mitigation typically require strong analytical and negotiation skills. While specific salaries vary by experience and company, positions involving direct client interaction for debt recovery and rehabilitation can offer competitive remuneration packages. Absa, as a major banking group, often provides structured career paths and opportunities for advancement within its risk and recovery divisions.

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