Website I&M Bank
I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Started in 1974, it evolved from a community financial institution to a publicly listed major regional commerci… read moreal bank offering a full range of corporate and retail banking services, 35 branches in Kenya and international operations in 3 other countries. I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers. CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Holdings, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions – Proparco, DEG and FMO. I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY. I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited and I&M Bank Rwanda Specialties Banking Services, Commercial Banking, Asset Finance, Mobile Banking, Internet Banking, Investment Management Services, Diaspora Banking, Credit / Debit / Prepaid cards, Wealth Management
Job Purpose:
The position is responsible for preparation of letters of offer and internal documents. This is to ensure and maintain high quality loan book and to safeguard the Bank’s interest by obtaining timely, accurate and complete internal documentation. Additionally, tracking and monitoring of covenants and other conditions of sanction.
Key Responsibilities:
Review approved credit applications and check adequacy of approvals as per delegated approval matrix and credit policy as well as approved sanction terms.
Prepare loan contracts between the borrower and the bank within the set service level agreement, incorporating all the sanction terms, covenants and conditions accurately to ensure the bank’s interest are fully protected to and any financial losses are avoided.
Review collateral information provided in the credit application and confirmation of the same against collateral information maintained in the core banking system and legal security docket to ensure the correct security details are captured in the loan contracts, for risk mitigation and avoidance of financial and legal risks.
Prepare requisite internal documents within the set service level agreement.
Ensure efficiency in tracking, scanning, delivering and dispatching approved and duly signed letters of offer and internal documents.
Ensure compliance by adherence to credit policies and procedures.
Correspond with relationship Managers/Branch Managers and Legal department on all issues relating to preparation of Letters of offer and internal documents.
Track and Monitor covenants and conditions of sanction.
Academic Qualifications & Work Experience:
A business-related degree holder from a recognized University.
At least 3 years’ experience in Credit.
CPA, ACCA is an added advantage.
Good knowledge of Credit and Trade Products.
Good understanding of the banking act and prudential guidelines.
Good knowledge of Banking system.
Good understanding of legal risks and laws applicable to Banking and Finance relating to lending and credits documentation.
Basic banking and fair knowledge of CBK prudential guidelines.
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