Posted
Ref: HP905-839
Job description / Role
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Job Purpose
Drafting facility documentation as per the approved credit application, perform fit to lend checks, prepare required documents for execution of mortgages & other required collateral registration processes in line with the agreed service standards (SLA's). Safekeep the signed off facility documentation and required collaterals.
Responsible to follow up and clear all the exceptions/deferrals in facility documentation within the stipulated time period.
Principle Accountabilities
- Ensure Credit Middle Office policies and procedures of the Bank are strictly followed in line with Bank's Credit policies and as per relevant guidelines of UAE Central Bank/Government.
- Adhere to UAE laws and regulations regarding all collaterals and the legality of documents used in coordination with the legal department,
- Drafting of facility offer letters/loans agreements in line with the Credit application approved by the required delegation authority and also as per the documentation SOPs for all Wholesale Banking credit facilities including conventional and Islamic Accounts - which will cover NTB /Renewal/Amendment requests. For existing borrowing relationships, validate the existing facility documentation to prepare the required documentation.
- Liaise with Credit to get the required clarification and/or guidance as and when it is required.
- Liaise with Legal to include non-standard conditions in the client facility offer letters as stipulated in the Credit approval.
- Follow the documentation procedures and finalize facility offer letters/ loans documentation, collateral documentation & other required documents by covering all the legal aspects abide by the signed off SLA's.
- Upon receiving the executed Facility offer letter and other facility documentation, inform Business regarding discrepancies, if any & follow up with Business to get those discrepancies rectified before sending the limits release instructions.
- Ensure the fit to lend checks are carried out as per the documentation procedure & all collateral documentation including mortgages are executed, CP's are met etc. as per Credit approval before confirming to the manager for his/her necessary checks. For existing borrowing relationships, review the existing facility documentation & collaterals to make sure all are valid & enforceable as per the laws, regulations, internal policies, and procedures.
- Ensure all deferrals approved by Credit are communicated to CMO limits & collateral management unit (LCMU) for tracking along with the limit release instructions upon getting the manager sign off. Also send the required documentation to LUMU to register collaterals and assets under Emirates Movable Collaterals Registry (EMCR) as per the statutory requirement.
- Conduct periodic follow up to make sure those deferrals & deficient documents are cleared on timely basis to keep the facility documentation perfected to mitigate credit & legal risk. As and when it's required inform management with the current status along with the action taken.
- Ensure lodgment & safekeeping of executed facility documentation are happening on timely basis.
- Responsible to handle the releasing of original facility documentation and/or processing of mortgage release requests after obtaining approvals from the appropriate sanctioning authority.
Requirements
Achieve Operational & control efficiency by:
- Always improve standard processing time and bring about productivity improvement through bench marking.
- Ensure all Documentation activities are performed as per operations procedure to achieve satisfactory audit rating for the Unit.
- To carry out activities with "zero" operational losses
- Support management centralize the control activities & implement automation to gain more control efficient environment.
- Ensuring reduction in re-work rate
- Adherence to SLAs and TATs agreed with stakeholders
- Support team management to update SOP periodically
Requirements
Experience and Qualifications
- 3 to 5 years of banking experience and 3 years in the Credit administration functions.
- Good understanding of banking operations, Bank's policies, procedures, guidelines, statutory requirements, market conditions including systems.
- Bachelor's degree.
- MS office proficiency especially word, excel, spreadsheets etc.
- Sound knowledge on functioning of Core system and other satellite systems.
Skills
- Good command of English language
- Excellent communication skills
- Planning and organizing skills.
- High level of interpersonal skills and negotiating skills.
- Computer literate with strong working knowledge of business software applications, particularly word/excel and spreadsheets.
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.