Reference No. JABLR011
CA Global Headhunters has been retained by the Afreximbank based in Cairo, Egypt to recruit for this position. For more information on the Afreximbank please visit their website www.afreximbank.com. Should you meet the minimum requirements and wish to apply for the position please apply directly to CA Global Headhunters.
Nature & Scope
The role of the position holder will be to provide middle office Agency & Security Trustee functions for the Bank's syndicated lending activities. The job holder initiates and is responsible for the recommendation and implementation of the Bank’s policies in these areas.
Facility Agency & Administration:
- Ensure receipt of conditions satisfaction/subsequent letters, legal opinions etc. for new deals, refinanced deals and communicating to the borrowers and the syndicate of lenders confirming completion of conditions precedent/subsequent.
- In liaison with Operations Department, ensure that all required accounts including collection accounts, debt service reserve accounts, debt service accounts etc. required as agreed for new and ongoing deals are opened and operational and as per agreed terms and conditions.
- On-boarding new transactions through the required procedures including KYC, setting up of Agency systems, sending welcome letters to syndicate members and all other required documentation.
- Reviewing of conformed copy of legal documentation to identify compliance and reporting obligations required for monitoring through the life of the facility and ensuring full loan covenant compliance and that all terms and conditions of the respective deals are adhered to.
- Ensure that all information undertakings as per the various Facility Agreements are diarized in excel sheets and on debt domain for covenant and information monitoring.
- Engaging and liaison with the borrowers and respective parties for receipt of due information/document, uploading of same onto the debt domain, and advice of receipt or non-receipt to the syndicate of lenders.
- Monitoring of loan covenants, implementation of structure and detection of possible events that may lead to default.
- Managing all request for amendments and waivers and discussing and agreeing the appropriate structures and information required with the borrower for presentation to the Banks.
- Management of all secondary trades and the receipt of transfer certificates, including the onboarding of new lenders.
- Administration of payment and settlement issues including ensuring that borrowers adhere to billing and repayment procedures and where there are defaults, that sanctions are implemented quickly, as well as in the preparation of redemption statements.
- Ensure repricing, calculations of rate fix/rollover for all Agented facilities and communicating the calculations to the Borrower and syndicate of lenders.
- Monitoring of accounts and ensuring that all principal and interest payments are made as required and distributed to the respective lenders accordingly.
- Ensure that all required fees including management, commitment fees, Agency and Security Trustee fees etc. are invoiced the borrowers and collected on/by due dates.
- Managing external vendor relationships and liaising with borrowers and other external advisors.
- Coordinating all interactions with other parties such as Treasury, Origination, other Banks, Technical Advisers, Insurance, Collateral Managers, Lawyers and Loan Administration regarding the facility.
- Coordination of receipt and payment of invoices for all professionals on the team (lawyers, Valuers, Technical Advisers etc.).
- Preparation of reports including monthly departmental reports to Management and syndicate members on the status of the various facilities.
- Monitoring and updating the risk register.
- Ensure that all required loan security documents are set up as required and that the security is perfected, the documents kept safe, retrieved appropriately and returned to the borrower at the expiry of the facility.
- Maintenance and monitoring of the loan security and periodic reporting as required under the Bank’s policies.
- In case of default, ensuring that enforcement is done as required under the Bank’s policies and procedures and in accordance with instructions from majority Lenders.
- On expiration or cancellation of a facility, ensure that all outstanding amounts of principal, interest and fees are claimed and settled, and that any security is released, and this information communicated to all parties.
- Ensure that all required processes to ensure independence of action and impartiality in treatment of all parties to the syndication, the holding of security, and the implementation of all inflexible terms, covenants, waivers and modifications as the case may be
Requirements: Qualification and Skill
- Bachelor’s degree and post graduate degree in Business Administration, Banking, Finance or related subject from a recognized University.
- A professional qualification in Banking backed up by appropriate Banking experience will be considered an added advantage.
- Sound experience of at least 8 years with a reputable Banking organization.
- Ability to communicate and function in a culturally diverse and change oriented setting with good knowledge of banking practices in Africa.
- Ability to interact with senior officials of banks, corporates and governments.
- Excellent verbal and written communication skills in English. Knowledge of the Bank's other working languages is an added advantage (French, Arabic and Portuguese).
- Proven experience in back-office operations. The candidate must demonstrate experience and knowledge of managing middle and back-office operations for syndications in a fairly complex banking environment as well as knowledge of LMA guidelines on Agency Practices and best market practice.
- Demonstrated leadership capabilities, including ability to organize and manage human resources to attain goals.
- Willing and able to relocate to Cairo, Egypt
- Suitably qualified candidates are encouraged to apply
If you wish to apply for the position, please send your CV to Jamie Adams at email@example.com
CA Global Finance will respond to short-listed candidates only. If you have not had any response in two weeks, please consider your application unsuccessful however your CV will be kept on our database for any other suitable positions.
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