Sagicor Bank Jamaica Limited is seeking to identify a suitable candidate to join our Credit Risk team in the capacity of: Corporate Securities Officer
The selected candidate will be responsible for Preparation and delivery of all related security documentation required for credit facilities approved for clients of the Corporate and Commercial Banking and the SME Units. Processing and perfection of security packages including the preparation of security documents for stamping, registration and recording at Government Agencies. Processing of requests for release of collateral. Custodial responsibilities for security documentation in assigned portfolio in accordance with established policies and procedures. Conduct online Company Searches.
Key Duties and Responsibilities:
- Prepare all security documentation required in keeping with the approved credit proposals and established Service Level Agreement and ensure all relevant fees are collected; Comprehensive review of the credit application and supporting documents; Preparation of all security documentation including Commitment Letters and related security documents.
- Communicate with Legal Counsel (both external and internal) when documents are to be prepared off site; Peruse and ensure all pertinent information is included in the security documents in accordance with the terms of the approved credit for security documents prepared by legal counsel.
- Review executed security documentation when returned from External Counsel for completeness; Calculate and ensure collection of fees required for processing, stamping and registration of credit facilities and that correct accounts are credited; Ensure stamping and registration of security documentation by Government Agencies are done within the specified timelines.
- Process executed security documentation upon disbursement for assessment, stamping and registration at the relevant Government agencies; Prepare all relevant release documents for securities and letters to the relevant institutions to discharge the Bank’s Interest upon request in accordance with the Bank’s policies, procedures and Service Level Agreements; Verify security to be released
- Prepare relevant discharge documents as well as instructions and forms for the external entities; Prepare letter of release along with supporting documents based on the type of security being released; Calculate and collect correct fees for release of collateral based on type of collateral being released and ensure correct accounts are credited.
- Respond to Letters of Undertaking within the required time and according to prescribed standards; Request return of security documents if Letter of Undertaking was not satisfied within prescribed time.
- Processing and Perfection of Security Documentation; Review all executed security documentation to ensure that they are duly executed and in registrable form to prevent issues in perfecting the security package; Initiate and monitor the process for security perfection that is, stamping, registration and recording; Ensure correct stamping and registration of security documentation by Government Agencies are done within the specified timelines
- Constantly follow up with the external agencies to ensure that the Bank’s interest is protected and noted on the relevant instruments; Prepare and track the outstanding collateral reports to ensure that all required security documentation are maintained on the collateral file; Log/update details of collateral for credit facilities on core operation system ( T24) and National Security in Personal Property (NSIPP).
- Prepare Contingent Liabilities for assigned Branch/Unit; Process request for the preparation of Bonds, Guarantees and Letters of Undertakings; Prepare notice of termination letters; Respond to queries
- Prepare weekly, monthly and quarterly securities and disbursement Management and Regulatory Reports; Prepare Monthly Outstanding Collateral Reports; Prepare Collateral Data for Quarterly Central Bank Return; Prepare and monitor Stamp Duty Reconciliations for assigned portfolio(s); Prepare SLA Reports for assigned portfolio.
- Custodial Responsibilities; Exercise custodial responsibility for assigned keys/combinations and observe the dual custody and access policies and procedures; Create and maintain security files within assigned portfolios; Monitor security files to ensure original documents and receipts are returned for safekeeping; Complete Collateral Audit Confirmation Requests; Conduct research and provide information on security documents/files as required.
- Cull closed files, index and archive in accordance with Bank’s policies and procedures
- Conduct online Company Searches; Log on to the Companies of Office of Jamaica Website and conduct company searches based on requests received from the business
- Perform any other duties as assigned from time to time.
Academic Qualifications/Specialized Skills/Competencies:
- Bachelor’s degree in Banking / Management Studies or equivalent qualification from a recognised tertiary institution or a minimum of a Diploma in Business Management.
- Completion of paralegal studies would be an asset.
- At least three (3) years’ experience in Banking with at least two years’ experience in documentation and collateral and securities.
- In-depth knowledge of established policies and procedures for the preparation, execution and perfection of corporate and commercial security documentation
- High degree of accuracy and very detailed oriented
- Knowledge of the Bank’s policies and procedures
- Ability to work under pressure, independently in Customer and Team Oriented environment
- In-depth knowledge and training in security documentation and processing
- Detailed knowledge and awareness of the Bank’s credit facilities.
- In-depth knowledge of the operations of the credit lending process
- Ability to communicate effectively both orally and in writing
- High degree of confidentiality and flexibility
- Competency in Microsoft applications (Word & Excel)
If this role is of interest to you kindly submit an application no later than December 3, 2021. While we appreciate all application, only shortlisted applicants will be contacted.