Project and Enterprise Support (Workout Specialist)

Tenable in Uganda - Tenure up to 3 years

Reporting to Head of Risk

Job Purpose

To facilitate the delivery of a turn-around or exit strategy to a demanding portfolio of predominantly complex and high-risk clients across the Region characterized by doubt as to their viability.

Duties and Responsibilities

• Identify from within the Bank’s existing portfolio of projects, clients showing signs of stress, delinquency or deteriorating credit rating.
  
• In liaison with the Country Manager, transfer primary responsibility for managing an agreed number of projects out of the Country Office to the Workout Unit;
• Manage and provide prompt workout services to rehabilitate turnaround and protect the impaired assets under the control of the Unit.
  
• Lead detailed, often complex negotiations with clients, sometimes in conjunction with Country Managers as to the opportunities available to the client and to the Bank in mitigating the risks identified, leading to a turnaround or regeneration of the project.
  
• Develop clearly-defined strategies with appropriate milestones for measuring success.
  
• Ensure full buy-in by the client to the proposed course of action.
  
• Where an exit strategy is the only plausible alternative, bring this to Senior Management’s attention quickly and recommend a capital recovery and exit strategy;
• Prepare detailed analysis and appraisal of the proposition within agreed business timescales in accordance with the Bank’s investment guidelines suitable for submission to the Project Committee and/or the Board when additional funding or rescheduling is required;
• Monitor the appropriateness of specific bad debt provisions and recommend amendments where deemed necessary.
  
• Likewise, recommend write-offs and maintain a constant vigil on key performance indicators of the Bank in respect of the portfolio quality and recommend policy or operational changes as appropriate;
• Keep abreast of developments in each country and use your relationship with Key Business Influencers, e.g. Accountants, Development Agencies, Receivers and Business Consultants, in formulating ‘outside the box’ solutions for difficult cases.
  
• Interface with other financial institutions and development banks in the region and when necessary develop joint strategies with these co-financiers;
• Maintain an up-to-date Project Status Report (PSR) for each project in the Workout Unit summarizing the agreed strategy and current implementation;
• In liaison with Legal Unit assist with the review of the legal documentation and recommend enhancements as appropriate. Where legal action for recovery is contemplated, work closely with the Legal team and agree on a teamwork approach to legal recovery or asset sales;
• Undertake visits to each of their assigned projects and complete a detailed Supervision Report in accordance with the Project Supervision Manual;
• Maintain accurate records for the timely receipt of Management Accounts and Audited Financial Statements and liaise closely with Project Sponsors to ensure that you have sufficient information to establish that the project is achieving the projections or milestones that formed the basis of the original sanction or rescheduling of the facilities. Where information available indicates that benchmarks are not being achieved, recommend down-grading of the project and agree remedial action with client;
• Ensure that contracted interest and capital repayments are received on the due dates and where a slippage occurs bring this to the attention of management with a firm recommendation as to when additional steps the Bank should take to protect itself;
• Maintain contact with individual Project Officers and develop a system of monitoring the effectiveness of their interventions, ensuring that where there are deteriorating trends that timely advice is given to minimize the bank’s risk where responsibility for less than satisfactory projects has been left under the control of a Country Office.
• Provide advice and counsel and create a joint approach to problem solving, building capacity within the Country Office to handle the less complicated turnaround situations. In need, assume direct control by transferring a project directly to the Workout Unit;
• Contribute to the preparation of the Regional Portfolio Performance Reports, with particular emphasis on the impaired book;
• Prepare and manage the Workout Unit Budget, ensuring costs are all kept within budge and that projected income levels and collections at least reach budgeted targets;
• Oversee and set annual performance objectives and targets for the Unit’s staff and evaluate their performance in accordance with the Bank’s staff performance management procedures. Identify staff with potential for advancement and, as part of the succession planning process, contribute to their development; and
• Undertake any other duties assigned by Management.

Qualifications and Experience

• A First degree in Engineering, Economics, Banking or Business Administration;
• A Postgraduate degree in Economics, Finance or Engineering or a professional qualification in a related field (ACCA, CPA etc);
• At least eight (8) years experience in a Commercial or Development Bank including project cycle management with specific competences in project analysis, monitoring and evaluation and a minimum of three (3) years in insolvency or turnaround consultancy services;
• Clean record of service in the banking industry with specific expertise in project planning and credit management;
• Superior business management and negotiation skills;
• Strategic leadership skills with demonstrated ability to drive a team to execute and deliver business objectives;
• Excellent analytical skills in particular financial modeling skills;
• Strong problem-solving and decision-making skills;
• Results-oriented;
• Demonstrable team working and coaching skills; and
• Excellent communications skills (oral, written and formal presentations).

If your career aspirations match this challenging and exciting role, please email your application quoting the relevant job title by 28 May 2011 to Executive Selection Division, KPMG Uganda at the following email address: EADBRecruit@kpmg.org.

Please attach your comprehensive Curriculum Vitae including an e-mail address, daytime telephone contact, qualifications, experience, present position, names and addresses of three referees.

All applications should be sent online by email.

Applicants for all positions must be nationals of the EADB Member States except where expressly indicated.

Candidates who applied for the re-advertised positions should not apply for the same positions.

Only short listed applicants will be contacted.

The EADB reserves the right to appoint a candidate at a lower level.

Successful candidates should be ready to assume duty before 1 August 2011.