Senior Officer, Credit Documentation - UAE National

Job description / Role

Job purpose:

Drafting facility documentation as per the approved credit application, perform fit to lend checks, prepare required documents for execution of mortgages and other required collateral registration processes in line with the agreed service standards (SLAs). Responsible for safekeeping of signed off facility documentation and required collateral documentation. Introduce and enhance proactive work culture to deliver excellent results through managing and mentoring. Responsible to follow up and clear all the exceptions/deferrals in facility documentation within the stipulated time period. Help team management to proactively manage all issues related to systems, housekeeping, internal audit, fraud, AML, compliance, business continuity management (BCM), and internal controls.

Principal accountabilities:

Ensure quality asset management by:

• 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/loan 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 finalise facility offer letters/loans documentation, collateral documentation and other required documents by covering all the legal aspects abiding by the signed off SLAs.
• Upon receiving the executed facility offer letter and other facility documentation, inform business regarding discrepancies, if any, and 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 and all collateral documentation including mortgages are executed, CPs 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 and collaterals to make sure all are valid and enforceable as per the laws, regulations, internal policies, and procedures.
• Ensure all deferrals approved by credit are communicated to CMO limits and 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.
• Also, periodic follow up to make sure those deferrals and deficient documents are cleared on timely basis to keep the facility documentation perfected to mitigate credit and legal risk. As and when it is required inform management with the current status along with the action taken.
• Ensure lodgement and 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.
• As and when it is required by the team management to act as a checker to carry out credit documentation activities.

In general:

Achieve operational and control efficiency by:

• Always improve standard processing time and bring about productivity improvement through benchmarking.
• 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 centralise the control activities and 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.
• Train staff within the department and maintain effective backups for critical positions.

Requirements

Education and experience

• Bachelor's degree, preferable finance.
• Minimum 6 years of work experience in the banking sector with 3 years of experience in credit documentation.
• Sound corporate credit knowledge.

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.