Legal: guidance across all areas and geographies to ensure: every transaction is appropriately negotiated, documented and implemented, losses arising from litigation are minimised, and legal issues carrying negative reputational consequences are avoided.
Job Purpose
Ensure that the Bank’s needs to provide adequate controls over the risks encountered in the post-credit granting stage of the credit process are satisfied by ensuring the appropriateness, consistency, validity and enforceability of all collateral confirming that all collateral and legal documentation in respect of business banking facilities and advances granted have been obtained are in legal order and properly housed.
To assist PBB in achieving their asset growth targets by providing effective value adding risk management, through judicious and effective management thereof.
The delivery of a professional service to the business units based on sound legal principles which supports the minimising of risk to the bank
Key Responsibilities/Accountabilities
Partner and business support
Provide accurate, expert and specialist legal advice to all divisions and business banking unit.
Participate in knowledge sharing within the Legal team.
Manage adherence to the service level agreement for internal and external processes
Proactive follow up of all matters with advocates to ensure faster draw down.
Build relationship with, branch based business bankers and relationship managers to improve quality of business proposals and turnaround time on security perfection
Attend meetings with and maintain regular contact with Front office/product areas in order to build good working relationships
Governance and controls
Ensuring group governance standards are effectively embedded resulting in nil CRR, Audit & CART findings
Ensure that only external attorneys as approved by the bank is used when preparing and registering collateral.
Ensure compliance with all relevant laws, regulations and bank policies and procedures.
Ensure that no facilities are availed prior to perfection of collateral subject to compliance with the Credit Policy and Procedures where no approval is provided.
Ensure that all relevant reports are submitted on the due dates and actioned accordingly.
Credit loss management
Ensure receipt of all Legal documents from the advocates, are in order, before recommendation of funds drawdown subject to compliance with the Credit Policy and Procedures.
Ensure that all legal documentation lodged for safekeeping have been scrutinised and confirmed to be in legal order.
Credit risk control
Drafting of facility letters and security documents
Accuracy in drafting of collateral documentation in line with sanction.
Ensuring clarity of facility letters while paying special attention to lending covenants, structural and legal risks arising from transactions.Continous engagement with CEM is recommended in the event of ambiguities.
Ensuring all collateral documents are provided as a complete package when issuing offer letters
Compliance
Ensure that all assets being secured in favour of the bank and in support of facilities are acceptable for collateral purposes, are current, have been verified, valued and where applicable, sufficiently insured.
Ensure that follow up is done on required collateral, current and sufficient insurance cover, current valuations, renewal of insurance cover, etc. and escalations are done where matters remain unresolved
Monitor watch lists process to ensure that all accounts with irregular collateral deemed high risk are highlighted for discussion and thereafter proactive escalation of breached agreed action plans.
Continuous thinning of security dockets.
Responsible for the implementation and adoption within BB Collateral of all Compliance, Anti-Money Laundering and Sanctions related requirements contained in policies, procedures and processes. This includes the consideration and approval of customers including those that require being subjected to Enhanced Due Diligence for on-boarding and continued business.
Legal support
Where required provide guidance to credit evaluation team in respect of conditions of sanction required for mitigation of legal risk
Security release
Ensure that the release and disposal of any facilities letters / loan agreements / collateral documentation have been authorised by the relevant authority.(Temporary release of collateral for upstamping,takeover by a different financier, release of shares for BB,release of SBLCs & cash margin or as the case may be).
Support continuous improvement
Responsibility for continuous improvement relating to design and continuously improving existing and new business processes.
Play a role in supporting BB credit risk change agenda.
Review of relevant internal & external communications, such as circulars, legal reviews/judgements relevant to the lending processes to ensure that any development, new requirements or external risks are properly taken cognizance of in securitisation processes and/ or lending decisions or conditions of lending.
Support HBB to develop new collateral policies, following existing policies and identifying and reporting any policy exceptions
Carry out other functions that could be assigned on daily basis in addition to present roles.
Preferred Qualification and Experience
Academic and Professional Level
Bachelor of Laws Degree.
Post Graduate Diploma – Kenya School of Law.
Admitted advocate in Kenya.
Desired Experience
Minimum five (5) years’ experience either in a financial institution or in a top-tier law firm with a thriving commercial, corporate, M&A, and/or financial services practice.
Knowledge/Technical Skills/Expertise
Deal with a wide range of customer queries, showing sensitivity to customers’ individual requirements as well as the Bank’s laid-down operational/procedural limitations.
Refer problems falling outside of parameters to the Head of Legal for resolution.
Able to take the initiative within limits of authority.
Required to follow laid-down policies and procedures at all times.
Planning is generally on a daily basis within regular activity cycles.
Able to deal efficiently with work volumes while remaining focused on priority issues.
Demonstrable sound legal background/knowledge of the regulatory universe.
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