The Role
The
Remedial Management Head is responsible for the strategic direction and overall management of the division aimed at meeting the mandates on loss recovery/cuts and preventive remedial action. In particular, s/he formulates strategies for all remedial accounts aimed at maximizing recovery of the Bank's exposure, writing provisions back to profit, and minimizing losses that would have an impact on shareholders funds. Preventive remedial action is taken for credits perceived to come under financial strain, ensuring that these do not retrogress into a default situation.
How you'll contribute
- Evaluates borrower's profile and circumstances of the account endorsed by the lending unit to determine whether there are options outside of legal action that can be pursued in line with the aforementioned mandates. Immediately instructs endorsement to Legal Division if said options are not available
- Provides direction to the Remedial Officer in (a) the formulation of options/remedies, i.e., primary and alternative strategies, to be pursued, (b) ascertaining key success factors and impediments to a rehabilitation closure, and (c) determination of means to overcome/eliminate impediments
- Spearheads efforts to secure and protect the Bank's interest on the accounts through fulfilment of documentation and/or obtainment of additional collateral
- Negotiates accordingly with the borrower, principals, borrower's/principal's representatives and, in certain cases, creditors for an acceptable rehabilitation/workout plan; Assumes the lead role in syndicates exposures whenever appropriate; Ensures adherence to approved courses of action to both internal and external policies (e. g., to BSP and other government regulatory agencies); Accompanies remedial officers during plant visits/client calls to keep abreast of the borrower's status and prescribes appropriate courses of action, if necessary.
- In case of legal action, coordinates closely with the Bank's counsel/s in determining the best course of action and discussion of various issues, if any; Monitors the portfolio Of the Legal Division for possible insights in handling cases to improve recovery changes; Evaluates and endorses/approves (depending on approving authority levels) acceptance of legal counsels and payment of corresponding fees as recommended by the Legal Division.
- Ensures timely reporting and updates on significant movements of critical accounts to appropriate management authorities for proper management of the Bank's Non-performing Loans (NPL) levels; Ensures proper account classification for purposes of determining required loan-loss provisions.
- Reviews all recommended for write-off accounts to be endorsed to Financial Controllership Division (FINCON).
- Participates in the collegial setting of the Bank's lending focus/credit preference, credit policies and processes.
- Ensures timely and accurate preparation of various monitoring and special reports of the division.
What we're looking for
- With at least 10 years of experience in Remediation in Corporate/Commercial Banking and Financial Services
- Accuracy and Attention to detail
- Financial statement analysis
- Account Management
About Security Bank
Security Bank is one of the Philippines best capitalized private domestic universal banks. Established in 1951 and publicly listed with the Philippine Stock Exchange (PSE:SECB) in 1995, our major businesses cover retail, corporate, commercial, and business (MSME) banking. We're recognized as an Employer of Choice in Philippine banking by various award-giving bodies for our values-based culture, industry-leading engagement and benefits, and commitment to work-life balance.
Most recently, we ranked as the #2 best employer in the Philippines and #54 globally on the prestigious Forbes World's Best Employers 2023 list.
At Security Bank, our approach to Human Capital Management (HCM) is embodied by our Employee Value Proposition (EVP): YOU matter.
