remedial officer - special accounts ManagementSecurity Bank
Workplace: MetroManila, Manila, Makati
Salary: Agreement
Work form: Full time
Posting Date: 11/11/2023
Deadline: 21/10/2022
About Security Bank
We are the Philippines' largest independent bank, having won countless awards over the years, including one of Euromoney's most prestigious industry awards in 2021-Best Bank in the Philippines.
We're changing how people bank. From the moment customers enter our branches to their experience online, we make them feel valued and empowered.
Now, with more than 300 branches spanning the country, BetterBanking has become the gold standard in improving the banking lives of millions of Filipinos. But we're far from done.
In our constant pursuit of excellence and improvement, we create teams that support our business and each other.
The Role
As a Remedial Officer - Special Accounts Management, you will devise and implement remedial strategies for managed accounts to maximize recovery, write provisions back to profit, and minimize probable losses that would impact the Bank's bottom line and ultimately, the shareholders' investment. You will also carry out and monitor remedial action on credits perceived to be under financial difficulty, ensuring that these do not graduate in a default situation.
How you'll contribute
Formulate strategy/is to be pursued by ascertaining key success factors and impediments for the recovery of the Bank's exposure.
Evaluate the profile of every borrower and the (default) circumstances of the same to determine alternative options other than filing a legal case.
Conduct a documentary review of accounts endorsed for remedial action to facilitate completion of noted documentary deficiencies.
Conduct due diligence work on credits such as, but not limited to, plant/office visits, financial analysis, credit analysis, projections, and credit checkings/asset search to aid in the determination of the appropriate recovery strategy.
Evaluate the merits of returning an account to the original lending unit taking into perspective the account's ability to sustain payment terms agreed upon, and the degree of remedial attention needed to see through compliance to the same for renewal of the business relationship.
Endorse account to Legal whenever the situation warrants taking an adverse recovery measure to continue with recovery efforts.
Monitor loan accounts under litigation through regular communication with legal counsel to determine status and action plan.
Recommend write-off of accounts managed and/or review write-off recommendations of other lending units based on the Bank's policies and guidelines.
Review items in litigation recommended for delisting by legal counsel using a cost-benefit approach to determine whether the Bank should already cease legal action.
Evaluate the sale of debt paper to interested investors by considering recovery probability vis-à-vis impact on the Bank's bottom line to maximize the collection of the Bank's exposure.
Conduct a loan portfolio review of accounts managed by other units when applicable.
Testify as Bank's witness in court proceedings.
Prepare detailed status reports on managed accounts every month for submission to the RMD Head and other internal clients to monitor developments on the account and present the next steps/action plan.
Review and revise policies and operating guidelines in tandem with the RMD Head and other process owners for continuous improvement and alignment with internal and external policies.
Negotiate an acceptable repayment/settlement plan with the borrower, principals, and in other cases, creditors based on the borrower's financial capacity, assets, and projected financial performance for the orderly liquidation of the obligations to the Bank.
Implement approved courses of action by both internal and external (BSP and other regulatory bodies) policies to commence recovery on the account
What we're looking for
Bachelor's Degree in any field
At least 4 years of relevant experience in Accounting/Audit/Tax Services, Banking, Leasing/Financing Institutions
Knowledge of credit evaluation, remedial management, and recovery strategies for corporate accounts; Knowledge of basic Microsoft applications.
Chinese speaking is an advantage.
Highly Analytical; Skilled in negotiation, customer service, and financial analysis
Able to communicate effectively with all levels of the organization and external parties; Keen on details; organized record-keeping; fast and efficient worker (able to meet timelines with quality output); exhibits initiative.
#LI-AS1
#LI-Hybrid
Security Bank
We are the Philippines' largest independent bank, having won countless awards over the years, including one of Euromoney's most prestigious industry awards in 2021-Best Bank in the Philippines.
We're changing how people bank. From the moment customers enter our branches to their experience online, we make them feel valued and empowered.
Now, with more than 300 branches spanning the country, BetterBanking has become the gold standard in improving the banking lives of millions of Filipinos. But we're far from done.
In our constant pursuit of excellence and improvement, we create teams that support our business and each other.
The Role
As a Remedial Officer - Special Accounts Management, you will devise and implement remedial strategies for managed accounts to maximize recovery, write provisions back to profit, and minimize probable losses that would impact the Bank's bottom line and ultimately, the shareholders' investment. You will also carry out and monitor remedial action on credits perceived to be under financial difficulty, ensuring that these do not graduate in a default situation.
How you'll contribute
Formulate strategy/is to be pursued by ascertaining key success factors and impediments for the recovery of the Bank's exposure.
Evaluate the profile of every borrower and the (default) circumstances of the same to determine alternative options other than filing a legal case.
Conduct a documentary review of accounts endorsed for remedial action to facilitate completion of noted documentary deficiencies.
Conduct due diligence work on credits such as, but not limited to, plant/office visits, financial analysis, credit analysis, projections, and credit checkings/asset search to aid in the determination of the appropriate recovery strategy.
Evaluate the merits of returning an account to the original lending unit taking into perspective the account's ability to sustain payment terms agreed upon, and the degree of remedial attention needed to see through compliance to the same for renewal of the business relationship.
Endorse account to Legal whenever the situation warrants taking an adverse recovery measure to continue with recovery efforts.
Monitor loan accounts under litigation through regular communication with legal counsel to determine status and action plan.
Recommend write-off of accounts managed and/or review write-off recommendations of other lending units based on the Bank's policies and guidelines.
Review items in litigation recommended for delisting by legal counsel using a cost-benefit approach to determine whether the Bank should already cease legal action.
Evaluate the sale of debt paper to interested investors by considering recovery probability vis-à-vis impact on the Bank's bottom line to maximize the collection of the Bank's exposure.
Conduct a loan portfolio review of accounts managed by other units when applicable.
Testify as Bank's witness in court proceedings.
Prepare detailed status reports on managed accounts every month for submission to the RMD Head and other internal clients to monitor developments on the account and present the next steps/action plan.
Review and revise policies and operating guidelines in tandem with the RMD Head and other process owners for continuous improvement and alignment with internal and external policies.
Negotiate an acceptable repayment/settlement plan with the borrower, principals, and in other cases, creditors based on the borrower's financial capacity, assets, and projected financial performance for the orderly liquidation of the obligations to the Bank.
Implement approved courses of action by both internal and external (BSP and other regulatory bodies) policies to commence recovery on the account
What we're looking for
Bachelor's Degree in any field
At least 4 years of relevant experience in Accounting/Audit/Tax Services, Banking, Leasing/Financing Institutions
Knowledge of credit evaluation, remedial management, and recovery strategies for corporate accounts; Knowledge of basic Microsoft applications.
Chinese speaking is an advantage.
Highly Analytical; Skilled in negotiation, customer service, and financial analysis
Able to communicate effectively with all levels of the organization and external parties; Keen on details; organized record-keeping; fast and efficient worker (able to meet timelines with quality output); exhibits initiative.
#LI-AS1
#LI-Hybrid
Security Bank
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Makati City, Metro Manila
Permanent
Full-time
Permanent
Full-time
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Makati City, Metro Manila