Remedial Asset Management Principal (ICD)

  • See description
  • Jeddah, Makkah, Saudi Arabia
  • Permanent, Full time
  • ICD
  • 19 Feb 18 2018-02-19

The role will be responsible for managing the impaired assets portfolio of ICD by restructuring, settlement or foreclosure of the non-performing projects and ensuring that the recovery plans are executed according to the strategy.   

KEY RESPONSIBILITIES

Managing the impaired asset portfolio by employing a variety of intensive remedia activities that includes legal action, debt settlements, asset swaps, debt for equity swaps and disposals at best realizable values.

 

Liaising with other departments within   ICD in gathering the required data for formulating remedial strategy for those companies.

 

Negotiating the financing / restructuring terms for impaired projects, and consulting with external auditors and the legal counsel on provisioning implications for the none performing assets .

 

Preparing Annual/Interim action plan for administration and close supervision of impaired assets managed by RAMU.

Responsible for developing strategies for handling the classified assets in order to prevent losses and maximize recovery, and to ensure their implementation.

 

Identify cross functional policy & procedures that contribute to the non-performing assets & assist their   rectification in coordination with the relevant departments, in order to reduce possibility of future losses .

Responsible for Coordinating on-site inspections, engineering studies, and construction bids to bring an   unfinished project to completion.

Developing and maintaining relationships with bodies in member countries that will assist ICD in the survey administration process.

Conducting market analysis and recommending appropriate disposition strategies, according to ICD policies.

 

Preparing regular reports and forecasts of the disposition of assets owned by ICD through analyzing  financial statements, business history, and creditworthiness of potential buyers.

 

Educational Qualification:

  • MBA/CA/CFA or postgraduate degree in finance.

Work Experience:

  • 9 years of experience in banking, preferably international, of which at least the last 3 years should be in holding a senior credit or remedial position in an Islamic bank, involving hands-on management of impaired assets.