Collateral Monitoring Officer job at DFCU Bank

To provide overall operational/administrative monitoring for leasing product assets and trade finance to ensure the bank’s objectives are achieved.

Perform adequate and timely monitoring of the Banks’ leased assets according to lease policy and individual contracts.

To review the tracking functionality and update the functionality on the assets, their movements/positioning, performance/ maintenance and any other such functionality.

To provide critical support to the Collection and Recoveries team in the process of defaulting on a loan that requires the assets repossessed by the bank.

Reviews of exception reports prepared by the unit and provides guidelines for formulating a monitoring framework to ensure adequate oversight of the Bank’s collateral.

Minimize the cost of recovering a missing asset or an asset subjected to rapid depreciation and misuse or theft.

Regular inspection of the Bank’s assets to ensure proper maintenance of the assets and make semi-annual reports to be shared with Credit and the Business Heads.

Develop a mechanism for accurately setting and monitoring performance metrics. For example, hours of use, time of use, loading and maintenance scheduling and others. This ensures that we maintain some level of oversight on the performance of the asset while allowing the customer to operate seemingly uninterrupted from the bank.

Review of customers with continuing credit line lease facilities and trade finance continuing credit line make semi-annual reports on collateral status and ensure the Bank’s interest is always not at risk.

Submission of regular rendition of weekly and monthly activity reports to the business heads on the performance and standard of the collateral held for the lease product and other chattels.

Ensure all bank assets are duly insured in liaison with the officer in charge of insurance.

All other activities as delegated by the Head of the unit.

Ensuring that all processes adhere to laid down controls and procedures following bank policies and Prudential Guidelines issued by the Central Bank and any other relevant regulatory requirements.