Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.
Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.
HEAD, VEHICLE AND ASSET FINANCE
Job ID: 33599
Location: Lagos Island
Job Sector: Banking
VAF & Fleet
To grow and develop the Vehicle and Asset Finance portfolio of the Bank, through cultivation of new business relationships, strengthen of collaboration alliances as well maintain existing business relationship in a profitable and professional manner.
Monitor and deliver the financial budget of the Vehicle and Asset Finance department though the interplay of the Sales Relationship Managers and the Branch network and other enablers:
Organise special joint campaigns with dealers and suppliers of asset to increase sale activities:
Interview customers applying for finance in an effective and professional manner.
Conduct transaction review meetings with customers with regards to structure, responsibilities, asset monitoring, insurance cover and other aspects of lease finance.
Ensure prudent application of new business margins to maximize returns.
Ensure that assets financed by the bank are adequately protected by means of proper pre & post disbursement conditions of credit approval.
Explain, promote and sell VAF offerings and solutions that meet the financial needs of business and personal banking customers. Selling includes acquiring new business transactions.
Cross-selling bank’s products & services to new and existing customers. It includes mining existing customer data to identify expansion and/or additional VAF opportunities.
Assist branch Relationship Managers and Account analysts on issues relating to VAF in the Personal, Business and CIB space.
Performing a liaison role between customers and back – office service fulfillment and credit functions.
Accurately and efficiently processing customer mandates/ documentation requirements for banking facilities.
Educating customers (internal & external) regarding the parameters and process flow governing Vehicle and Asset Finance product offerings to ensure the correct customer behaviour and product usage.
Support customers in the completion of Vehicle and Asset Finance application form /Letter and provision of supporting documents.
Notify customers and RMs regarding the approval of credit loan facilities.
Conduct a needs analysis to identify customer needs effectively when opening new accounts or giving product advice.
Adhering to record keeping requirements as outlined by CBN and the Nigeria Financial Intelligence Unit (NFIU).
Adhering to the prescribed turn-around time of VAF transactions.
Attend joint calls with Relationship Managers and Branches
Manage the Vehicle and Asset Finance Portfolio and Sales activities:
Monitor all performance triggers to ensure they remain within the risk appetite and work with relevant stakeholders for correction when in breach.
Attend Watch list meetings for customers on watch list and provide feedback and proactive measures to cure ailing accounts.
Ensure collection of overdue or delinquent accounts working with the Business Solution and Recoveries.
Monitoring Pre-NPL and NPL performance of Commercial and Business Banking clients.
Report on weekly basis Sales and Delinquent account.
Monitor processing of loan applications and credit investigations and collateral and make recommendation.
Present large ticket transactions at Credit Committee.
Organise periodic visit to Dealer floor and organise period joint campaigns.
Design marketing plan for the product in conjunction with the marketing Team and dealers on special sales events.
Recruit personnel and identify their training needs
Interview corporate and individual customers and respond to customer enquiries
Analyse, review and approve or reject loan and credit applications in accordance with risk Appetite parameters
Formulate and cascade Budget for the year to the Team and track progress.
Develop and improve process for Vehicle and Asset Finance:
Attend and develop a framework for all collaboration operations meeting between the Bank and its partners -Ford Credit, Caterpillar Financial Services/Mantrac, and John Deere.
Attend all new product lunch in relation to asset covered under the Product Parameter.
Review process and product parameter.
Ensure implementation of Performance Development Plan of respective team members.
Train Customer Care Contact, Relationship Managers on periodic basis
Enlighten the dealers and suppliers of vehicle and asset on the process and procedures of VAF from time to time.
PREFERRED QUALIFICATIONS AND EXPERIENCE
A first degree, with a minimum grade of a second class lower
Membership of the Certified Pension Institute of Nigeria or/and Equipment Leasing Association of Nigeria would be an added advantage
Customer Service and Sales:In-depth experience in banking and banking products, asset finance, Credit and Collection
Taking Action: taking action in service of achieving the organisation’s goals. It is about being energetic, showing initiative and being action oriented.