The Incumbent will report to the Manager, Securities and Documentations and will be responsible for:
1. Pre-disbursement review & sign off:
• Ensuring the following are adhered to and undertaken within the time frame set out:
• Acknowledging receipt of all security documents from the Borrowers via the Relationship Team;
• Updating the pre- disbursement report for tracking purposes;
• Reviewing all documents to confirm legal terms and enforceability;
• Preparing the lodgment/ disbursement sheet;
• Forwarding the original security documents to custody unit for lodgment;
• Forwarding lodgment/ disbursement sheet to credit Admin for disbursement and updating of the system with details of security held;
• Forwarding to credit admin relevant documents to facilitate:
• Creation of liens in case of cash security;
• Joint registration of Logbook for HP facilities.
Supervising perfection of securities by external advocates:
• Supervising and coordinating the perfection of Bank security documents prepared by the Bank’s external advocates and ensuring completion within the SLA timelines from the date of issuance of instructions to completion.
Undertaking the following pertaining to perfection of securities:
• Instructing external lawyers to prepare and finalise all types of security documentation on behalf of the Bank;
• Reviewing the draft security documents received from external lawyers and also supervising the review of security documents to ensure quality, uniformity and enforceability;
• Prepare in-house security documents for customers and/or the group companies’ wishing to save on legal fees upon request/instructions from management;
• Negotiating syndication agreements for and on behalf of the Bank;
• Liaising with the concerned Relationship Managers in regards to arranging for the execution of security documents by the Bank’s Customers;
• Reviewing the registered security documents to ensure proper registration before submitting the same the Credit Department for lodgement and giving the disbursements
• Assisting the Manager, Securities and Documentation in ensuring that all Land charged to the Bank is not negatively listed on the Ndungu Report or NLC Report;
• Reviewing all undertakings issued by or received by the Bank particularly for the takeover of facilities, sale transactions, release of title documents for creation of tenancy leases,
extension of lease, amalgamation or change of user:
• Maintaining a report of all the outstanding undertakings handled within the department clearly setting out the obligations to be fulfilled, the parties involved and the timelines to be met ;
• Following up to ensure that the undertaking obligations are fulfilled within the stipulated timelines;
• Recommending necessary action(s) to be taken in the event of breach of terms by any party to the undertaking(s).
• Coordinating and ensuring that the pending securities report are sent to the divisional heads and RMs monthly (i.e. corporate division, business Banking, Affluent and Personal Banking);
• Assisting the Manager, Securities and Documentation, in preparation of the disbursed pending perfection reports to be submitted to RiskCo, CRMC and any other committee as directed.
• Assisting the Manager, Securities and Documentation, in preparation of the Report on all outstanding undertakings;
• Coordinating and ensuring the miscellaneous report pertaining to security documents released after disbursement for various reasons (e.g. creation of tenancy leases, extension of lease, amalgamation or change of user).
Panel of advocates:
• Ensuring that the law firms provide their firm’s professional indemnity cover and following up for renewal dates as and when expires;
• Ensuring to procure the Tax Compliance Certificates for each year from the Advocates;
• Periodically assess the advocate’s performance against the SLA signed between the Bank and the Advocates.
• Supervising and co-ordinating the review of any other security documentation that the Bank may enter into with third parties; and
• Advise the Bank on its rights and remedies under any legal documentation.
• Standard form security documents:
• Periodically reviewing the standard form security documents to ensure they capture the current market trends and recent development in laws;
• Periodically arranging for external lawyers to undertake security audits.
• Bachelor of Laws (LLB) degree from a recognized university;
• Diploma in Law (KSL) and Admission as an Advocate with a current practicing Certificate;
• Minimum Five (5) years’ experience in legal practice of which three years should have been in a Financial Institution;
• Post Graduate qualifications in a relevant field will be an added advantage
• Must demonstrate managerial and administrative skills backed by leadership qualities
• Possess a high degree of professional ethics & personal integrity.
• Must be hardworking, flexible & service oriented and self -driven;
• Proficiency in use of computer applications;
• Ability to work with minimum supervision;
Required education: Bachelor's degree
Required relevant work experience: 5 years
Required languages: English (Spoken: fluent | Written: fluent)