SUMMARY:
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POSITION INFO:
Main purpose of the job
The development of the Bought in Properties strategy, the development and execution of the operating model, benchmarking, building capacity and capability, development or enhancement of associated policies, procedures, controls and effective management of the Bought in Properties portfolio / programme which includes establishing and working with internal and external stakeholders and service providers and provide periodic performance updates and reporting to the relevant committees.
To successfully manage the Bought in Properties Function by developing and executing the strategies in order to achieve the organisational targets in line with the Bank’s Corporate Plan and business strategy.
To create an environment for continuous improvement through:
- Process optimisation and automation,
- Deployment of fit for purpose workflow systems, and
- Drive sustainable cost and operational efficiencies through innovation, industry benchmarking and implementation of best practices;
To identify and mitigate any potential business risk, provide management with regular reports and make recommendations to mitigate identified risks, improve processes, and provide cross functional input to improve overall business processes.
To ultimately ensure all Bought in Properties are safeguarded to prevent destruction of value and to obtain maximum recovery through the sale of these assets.
Bought In Properties – The portfolio of properties that were bought in by the Bank through different initiatives, i.e. auction, liquidation, legal recovery, etc.
1. Develop and implement Bought in Properties strategies aligned to best practice
- The development of the Bought in properties strategy, the development and execution of the operating model, benchmarking, building capacity and capability, development or enhancement of associated policies, procedures, controls and effective management of the Bought in Properties portfolio / programme which includes establishing and working with internal and external stakeholders and service providers and provide periodic performance updates and reporting to the relevant committees.
- Develop a proactive Bought in Properties Framework in order to effectively manage the portfolio value chain aligned to the Business Unit strategy and ensuring adequate processes, procedures, controls are in place.
- Drive optimal Bought in Properties by improving systems, processes and streamlining resources across the area of responsibility in a proactive and innovative way.
- Optimisation and management of the Bought in Properties infrastructure and resource model to implement an efficient and effective Bought in Properties service across the entire value chain including: purchasing, marketing, commercialization, valuations, monitoring, sales, reporting, disposals, etc.
2. Execute on business Unit strategy and operational plan
- Design, align and Implement a fit for purpose operating model to deliver on the business requirements.
- These include:
- Formulation of policies, processes and procedures to support business objectives to manage and monitor the Bought in Properties portfolio
- Design and implementation of key business capabilities with the associated resources
- Execution of the set policies and procedures to ensure successful implementation of the Bought in Properties Strategy.
- Deployment of systems to successfully and proactively monitor and manage the portfolio
- Create a targeted approach to automate processes, systems and approaches to monitor and efficiently manage properties in possession.
- Create and plan for the capabilities and capacity requirements to support the proactive management of the portfolio
- Monitor plans and make adjustments to suit business requirements
- Execution of complete value chain from property aquisition to disposal of properties in possession.
- Manage system development process from a functional specification perspective
- Track and measure performance against the plan and optimise where necessary.
- Capacitate from a capability and resource perspective
3. Risk and Governance Management
- Engage with internal and external stakeholders in relation to the acquisition, marketing and disposal of bough-in properties
- Post property acquisition, visits farm, assesses the condition including security and insurance requirements, and provide feedback to management for decision making pending the disposal of the property
- Monitor security company appointments and performance in order to protect the bought in property
- Monitor and resolve any damage to bought in properties to ensure that the property is maintained as far as reasonably possible
- Ensure fire breaks are burnt timeously and in terms of regulations and include this in the monthly report.
- Inform government (as first option buyer) that properties are available for sale - do not wait longer than 30 days
- Compile advertisements and ensure that the advertisement is put on the Bank’s Website and act as contact person for any interested parties
- Monitor the property email inbox for enquiries in relation to properties advertised on the website.
- Makes recommendation to advertise externally making use of an approved service provider;
- In the event of an offer being solicited and secured, compiles report for consideration and approval in accordance with the DOP
- In the event of an offer being accepted, facilitate transfer of the property to the buyer
- Ensures compliance to all policies at all times
- Monitor the overall Bought in Properties environment and provide business relevant reports as aligned to the risk and governance framework
- Review and adopt the risk framework in line with the Bought in Properties function
- Proactively manage changes in the environment and ensure the effective implementation and stabilisation of changes in the business unit;
- Establish and facilitate appropriate monitoring & management governance structures to facilitate decision making, risk management and performance tracking;
- Drive and lead project teams to plan, test and implement process or system changes or processes within the business unit.
- Drive a culture of proactive compliance and risk management within the Business Unit;
- Identify and take accountability for the risks relevant to the portfolio and business unit as a whole in terms of the Bank’s Operational Risk Management framework and ensure alignment to the overall Risk Management strategies by working closely with the risk and compliance internal structures;
- Ensure that adequate and effective controls are in place and take appropriate corrective measures to ensure adherence;
- Review the risk management and compliance practices in the Business unit and highlight areas for improvement to the management team and ensures that they understand their responsibility for risk ownership
- Evaluate the status of the Operational and Principle risks within the business unit on a quarterly basis and remediate deviations
- Stay abreast of market trends, relevant legislation and events in appropriate industry and statutory bodies and Implement transformation and change across the business in line with the business vision and sector direction
4. Reporting and stakeholder relations
- Conduct stakeholder engagement meetings with business, legal, finance, etc. to discuss the Bought in Properties function performance and related challenges that affect all divisions
- Produce the required reports to management for areas of responsibility for decision making purposes and for purposes of business, quality and productivity improvement;
- Report on instances of errors resulting in potential losses on transactions;
- Communicate the required reports as agreed and directs the correct measures for reporting purposes to team members;
- Quality-check the report to ensure accuracy, relevance and completeness and apply changes
- Submit accurate reports to management as per agreed time lines
- Liaise with other business areas to effectively implement new processes and systems, improve existing processes and systems and deliver upon agreed commitments
- Establish and maintain effective stakeholder relationships.
- Maintain continuous engagements and manage the relationship with the various service provides;
- Oversee the receipt and reviews of reports from service providers
