Job Summary

Reporting to the Business Assurance Manager the purpose of the role will be:
• Review of annual renewal credit papers for Business Banking and Corporate Businesses
• To sanction and structure deals relating to new business propositions from Medium Business Sales or live business applications from Relationship Managers, taking into account Credit Policy.
• To exercise personal / joint discretion in structuring and sanctioning facilities with the additional benefit of financial and other information provided by Sales or Customer Services.
• To recommend and implement requisite amendments to Credit Policy.
• To report on proposals, in an agreed format, commenting on product type, the level of advance, covenants and key factorability issues.
• To ensure suitable conditions are set within the customer agreement to mitigate the risk issues.
• To participate in deal teams, visiting prospective customers as required.
• To develop the Credit/Sales partnership and key relationships with the Sales Teams.
• To assist in training others around the business as required.
• To undertake and complete ad hoc projects as and when required.

Job Description

Main accountabilities and approximate time split

CREDIT MANAGEMENT 

Survey Sanctioners (SS) - 25%

•  The jobholder will assess/analyse proposals submitted for sanction of Asset & Sales Financing products, requesting further information where required and make Sanction decisions for those proposals within her personal sanction authorities.  This will include presentation to higher sanction authorities where necessary and the exercising of joint discretions with others.  The jobholder will need to assess the product and financial risks from a wide range of sources, including reports from Business Development Managers, Relationship Managers, Receivables Assessors survey reports, prospective client ledgers, terms and conditions of trade/contracts, financial accounts and information from other sources such as Credit Reference Bureaus, CCN and Lending Advisor, Business Plans, Due Diligence Reports.
•  The jobholder will have a personal sanctioning authority, which will be decided by the Head of Credit (depending on the individual mastery of lending activities) for annual renewal of the existing business at same level as well as enhancements/new businesses.
• The job holder will review and recommend applications above her mandate to the respective mandate holders, after ensuring that the paper is of the required standards and qualities.
• Where sanctions do not fall within the standard Credit Policy, typically large and bespoke deals, the jobholder is required to structure the proposal in such a way as to balance the customer's needs with the risk appetite of Absa.
• Legal documentation is produced/ratified detailing the terms of the facility and supporting securities involved with a new client prior to dispatch. The jobholder may have to sanction alterations, or amendments to offers when necessary.
• The jobholder will ensure the conditions of offers are complied with and may be required to authorize first payments to new customers.
• The jobholder will work closely with Senior Sanction Officers where appropriate.

• The applications sanctioned by the jobholder will be subjected to sampling of lending decisions made around the company.  These will be compared with current Credit Policy and where flexibility is required in relation to a particular lending decision it is the jobholder's responsibility to challenge and amend the original where necessary.

 Senior Auditor - Survey Sanction (SS) only: -

Planning & Preparation - 5%

• Liaise with Corporate Credit Managers to establish specific requirements for each assessment.
• Research industry issues as appropriate and review the supporting information provided by Corporate Credit Managers, obtaining additional network reports as required. 
• Establish contact with the prime mover prior to each assessment to ensure the availability of relevant information and the customer understands scope of the assessment.

Risk evaluation, research & analysis and report writing - 70%

The jobholder will undertake the onsite assessment / evaluation of debt to be financed at the customer's premises, often in competitive and / or sensitive situations.

• Through interrogation of prime movers and detailed analysis of customer information, the jobholder will review and validate adherence to the conditions of the previous sanction.
• The jobholder will confirm validity of the debt and the prospective customer's ability to run a Sales Finance facility.
• Analysis will utilize a suite of tests at the discretion of the jobholder (subject to policy compliance) to ensure satisfactory understanding of all 5 key factorability issues: collectability, auditability, contractual completeness, quantifiability, assignability. Further investigation will be carried out to enable satisfactory comment / understanding of business viability issues, business structure and personnel.
• Interrogate and pursue anomalies from discussions with the prospective customer through examination of additional data.
• Obtain hard copy reports including aged sales ledger, aged purchase ledger, trial balance and any other information appropriate to the overall assessment of the facility.
• Establish the appropriate funding level based on the outcome of onsite investigations.
• Complete report of onsite findings using the most appropriate reporting format allowing for the size and complexity of the business operation.
• Undertake additional audit work (subsequent risk evaluation visits) as work patterns may dictate.

Risk and Controls Objectives

• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Absa Policies and Standards

• Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture.
• Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgement and responsible risk management.
• Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
• Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
• All mandatory training completed to deadline

Essential

• Knowledge of Asset and Sales Finance Credit Policy and Procedures

• In depth knowledge of Money Laundering Policy and Guidelines
• Good working knowledge of the Companies Act, in order to assess deals such as MBO's.  E.g. section 151 issues. 
• Credit experience within a bank environment.

• In depth knowledge of Asset and Sales Finance products and their operation in order to be able to assess the viability of funding structures
• Working knowledge of other bank products that may form part of the customer's credit with the Bank.
• Working knowledge of the guidelines and procedures of the FDA in order to effect transfers between factors.
• Understanding of Credit as it applies to the network teams.
• Working knowledge of Lending Advisor in order to assess Credit against other Bank business the customer may have.

• Credit assessment skills
• Policy interpretation and report writing experience.
• Economic and commercial awareness
• Good negotiation skill
• Spent time in a corporate related environment in the Bank
• FDA/FLA Certificate/Diploma
• Working towards, or holds, a professional qualification in the Financial Services industry.

Absa Values

Absa’s  Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusive
• Courage

Education

National Diplomas and Advanced Certificates: Business, Commerce and Management Studies (Required)

• Review of annual renewal credit papers for Business Banking and Corporate Businesses
• To sanction and structure deals relating to new business propositions from Medium Business Sales or live business applications from Relationship Managers, taking into account Credit Policy.
• To exercise personal / joint discretion in structuring and sanctioning facilities with the additional benefit of financial and other information provided by Sales or Customer Services.
• To recommend and implement requisite amendments to Credit Policy.
• To report on proposals, in an agreed format, commenting on product type, the level of advance, covenants and key factorability issues.
• To ensure suitable conditions are set within the customer agreement to mitigate the risk issues.
• To participate in deal teams, visiting prospective customers as required.
• To develop the Credit/Sales partnership and key relationships with the Sales Teams.
• To assist in training others around the business as required.
• To undertake and complete ad hoc projects as and when required.
• Assess/analyse proposals submitted for sanction of Asset & Sales Financing products, requesting further information where required and make Sanction decisions for those proposals within her personal sanction authorities.
• Present to higher sanction authorities where necessary and exercise joint discretions with others.
• Assess the product and financial risks from a wide range of sources.
• Review and recommend applications above her mandate to the respective mandate holders.
• Structure proposals to balance customer needs with Absa's risk appetite for large and bespoke deals.
• Sanction alterations or amendments to offers when necessary.
• Ensure conditions of offers are complied with.
• Authorize first payments to new customers.
• Challenge and amend original lending decisions where flexibility is required.
• Liaise with Corporate Credit Managers to establish specific requirements for each assessment.
• Research industry issues as appropriate and review supporting information.
• Establish contact with the prime mover prior to each assessment.
• Undertake onsite assessment/evaluation of debt to be financed at the customer’s premises.
• Review and validate adherence to the conditions of the previous sanction.
• Confirm validity of the debt and the prospective customer’s ability to run a Sales Finance facility.
• Utilize a suite of tests to ensure satisfactory understanding of all 5 key factorability issues.
• Interrogate and pursue anomalies from discussions with the prospective customer.
• Obtain hard copy reports including aged sales ledger, aged purchase ledger, trial balance and any other information appropriate to the overall assessment of the facility.
• Establish the appropriate funding level based on the outcome of onsite investigations.
• Complete report of onsite findings.
• Undertake additional audit work (subsequent risk evaluation visits) as work patterns may dictate.
• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Absa Policies and Standards.
• Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture.
• Understand own role in the end-to-end processes.
• Adhere to Absa’s policies and procedures.
• Report all risk events / incidents / issues.
• Proactively look for ways to improve the control environment.
• Complete all mandatory training to deadline.

• Knowledge of Asset and Sales Finance Credit Policy and Procedures
• In depth knowledge of Money L

• Knowledge of Asset and Sales Finance Credit Policy and Procedures
• In depth knowledge of Money L