SECURITIES RECORD OFFICER AT KBC BANK

Securities Records Officer-intern

1. KEY RESPONSIBILITIES: 

• Maintenance of securities data base in Excel Sheets. Also reliable MIS and development of various reports for sharing with business teams and Credit.
• Renew Land rent and  Insurances and making follow ups from customers and business Relationship Managers and Branch Managers,
• Updating Excel Sheet data base, Land rent and Property Tax and circulate to business weekly.
• Renew and follow ups for Property Tax for the properties held us a security to cover Banks’ facility
• Prepare and implement securities tracking “live” system which will be submitted on Daily basis confirming the progress and time expected for closure.
• Liaise with Land Registries, up-country and Ministry of Land and pay Land rent,  and Property Tax
• Creating and updating diaries for insurance, land rents and valuation and issue daily report.
• Review of all securities and documentation on regular basis to confirm validity of Land rent, insurance and property tax
• Attend remedial activities on Securities which will be assigned by Line Manager.

2. DAILY RESPONSIBILITIES: 

• Manage physical lodgement of securities, capturing of all collateral links on T24, maintenance of a security database and ensuring proper and organised filing of securities in the strong room.
• Ensure all assets charges to the Bank are adequately insured and annual compliance renewals are obtained e.g. rents and rents, annual returns e.t.c.
• Manage discharge and release of securities upon receipt of confirmation of full satisfaction of liabilities and obligations owed to the Bank and handling of securities for all takeovers of secured facilities and sales of securities vide private treaty to ensure Bank’s interests are protected and facilities are paid off.
• Provide point of reference and queries response for all business teams across the Bank on all issues pertaining to securities confirmations, discharges, release and copies.

3. CHALLENGES: GIVE ONE EXAMPLE OF THE CHALLENGES ENCOUNTERED IN THIS JOB 

• Pressure environment in view of tight TATs and business expectation which must be carefully balanced with accuracy and caution when dealing with securities.
• Challenges in negotiating of undertakings for take overs and to ensure the bank’s interest is protected  and monitoring of takeover process with external lawyers and ensuring that undertaking terms are adhered to within the stipulated timeline given the challenges in the various lands registries and company registry
• Stakeholders’ management and co-ordination of all parties involved in securities handling.
• Inherent risk of handling sensitive documents e.g titles which are hard to replace.
• Lack of historical records and documents  making it hard to trace securities received by the Bank prior to formation of SDC
• Lack of a Document Management system hence data capturing, information processing and MIS reporting is manual which affects TAT and records management and accountability.
• Challenging physical environment of the strong room at the basement which is air controlled.  
• Long working hours at the Bank’s safe (strong room) involving manual retrieval and filing of huge volumes of documents and securities and physical movement of documents to and from the safe. 

Click Here to Apply