Job Purpose:
Support the Securities & Documentation
function of the Legal Department in creating and verifying the Bank’s security
documents to ensure compliance with set parameters, enforceability, and
alignment with customer expectations, while supporting the Bank’s overall
strategic objectives.
Key Responsibilities:
Securities
Perfection/Documentation Responsibilities:
- Issue Security perfection instructions to
external Advocates in accordance with terms of facility letters.
- Review all security documents prepared by
external Advocates prior to execution to ensure that terms and covenants
of the security documents are comprehensive and enforceable and that the
amounts secured, description of properties and assets being charged are
accurate.
- Ensure Advocates procure pre-registration
searches from the Companies Registry, Lands
- Registry and the Moveable Property
Security Rights (MPSR) Collateral Registry and review them to ensure (i)
there are no prior/existing security rights in favour of 3rd parties and
advise Business where such prior rights are revealed (ii) In case of corporate
borrowers or guarantors, the signatories to the securities are legitimate.
- Attend to the execution of Bank
securities by Bank Attorneys or Directors and attest to the execution
prior to releasing documents to Advocates for registration.
- Continuously engage with external Lawyers
on security documentation process to ensure that security documents and
other conditions have been perfected/ completed within the agreed TAT.
- Review registered security documents upon
receipt from Advocates to confirm completeness of the registration
including payment of stamp duty, payment of rates and rent where
applicable, priority of Bank security is observed etc;
- Undertake registration of MPSR Notices at
the Collateral registry for all externally perfected securities and for
jointly registered Motor vehicles and take such other actions as required
under the MPSR Act.
- Safe keeping of security documents by
scanning them all into respective customer folders and lodgement of the
physical documents with the security custodians as well as uploading
copies into DMS.
- Maintain up-to date reports on the status
of all security documentation being prepared and/or registered by the
Bank’s external advocates.
- Update the business teams on the status
of security documentation and advise of any factors delaying the progress
and completion of the perfection and propose strategies to unlock delayed
security perfection process.
- Draft and guide on execution of internal
security documents that do not require external Advocates action eg the
Informal Charges & Security Agreements.
- Continuously monitor changes in Laws and
case Law to ensure that the Bank’s security documents are up to date and
comply with those changes and advise Business units on changes and how to
manage any risks posed.
- Assist the business teams in formulating
optimal security structures against possible facilities and/or customer
requests.
- Advise the Business of any gaps or errors
in facility letters when read against approval terms, customer
constitution documents, title documents or description of other assets and
recommend and if required, assist with drafting of appropriate revised clauses.
Pre-disbursement Review &
Sign Off:
- Ensure the following are adhered to and
undertaken within the required time frame:
- Approve pre-disbursement checklists in
respect to Business Banking Segment and issue the same to Credit
Administration department for purposes of disbursement of facilities upon
confirmation that all collateral and non-collateral requirements as per
the Credit approvals have been fully complied with and Bank’s interest
fully protected;
- Ensure that all exceptions and and/or
deferrals provided to allow disbursement are approved in accordance with
the Bank’s credit approval authority matrix.
- Ensure that internal SLAs are adhered to
in the handling of pre-disbursement requests.
Undertakings:
- Negotiate and review terms of
Bank-to-Bank undertakings from other financiers to ensure the terms can be
fully complied with and the Bank’s interest is protected and follow up to
ensure compliance with the terms to avoid exposing the Bank to legal suit,
reputation risk and financial loss.
- Negotiate and Review terms of
Bank-to-Bank undertakings required from the Bank where the Bank is taking
over customer facilities from other financiers or where the Bank is
financing the purchase of property/other assets, to ensure that
undertakings issued by the Bank are within the approved terms and are
enforceable.
- Negotiate and review terms of
Professional undertakings required from external Advocates for the
handling of Bank security Documents where temporary release of the
documents is requested e.g. for change of user, registration of short term
leases, conversions of title etc and follow up to ensure compliance with
the terms of the undertakings.
Reports:
Assist in the preparation of the
reports relating to facilities disbursed pending security perfection to be
submitted to CRMC, BCC and any Prepare and maintain a report pertaining to
security documents temporarily released for various reasons (e.g. creation of
tenant leases, extension of lease, amalgamation, sub-division, change of user,
conversion of Titles, sharing of securities etc).
Legal Advice:
- Offer day-to-day legal and technical
advice to Business and Credit teams before, during and after appraisal of
Credit facilities on structuring of credit facilities and securities to
ensure cost effective and legally enforceable securities.
- Advise the Bank on its rights and
remedies under any legal documentation, particularly but not limited to
security documents.
- Monitoring changes in Laws and case Law
to ensure that the Bank’s security documents are up to date and comply
with those changes and advise Business units on the changes and how to
manage any risks posed.
Other Duties:
- Supervise and co-ordinate the review of
any other security documentation that the Bank may enter into with third
parties.
- Advise the Bank on its rights and
remedies under any legal documentation.
Key Performance Indicators:
- Turnaround time for perfection of
securities within the set SLAs.
- High quality of the security documents
that are enforceable and can stand the test of court.
- Accurate reporting of all outstanding
securities.
- Submission of the pre-disbursement
checklists within the period set in internal SLAs.
Academic Qualifications & Work Experience:
- Bachelor of Laws (LLB) degree from a
recognized university.
- Diploma in Law (KSL) and Admission as an
Advocate with a current practicing Certificate.
- Minimum Seven (7) years’ experience in
legal practice of which three years should have been in a Financial
Institution.
- Must demonstrate managerial and
administrative skills backed by leadership qualities.
- Possess a high degree of professional
ethics & personal integrity.
- Must possess strong communication skills,
be flexible & service oriented.
- Ability to think critically and
strategically.
- Ability to work with minimum supervision.
How to Apply
