The Real Estate Technical Services Officer (RETSO) is responsible for identification, assessment, monitoring and mitigation of Credit Risk covering but not limited to all products secured by real estate property in Retail, Small and Medium Enterprises (SME) Business Banking. The RETSO is responsible for management of the Appraisal Program. The role involves supporting the Credit Risk Team in policy formulation as well as establishing a good relationship with relevant government authorities, developers and valuers.

Key Responsibilities

Strategy

Build and implement governance structure around Retail Banking Secured Lending (Mortgage, Auto Loans and Wealth Management) in Africa including Policy, Processes and Country structures. 

Managing the credit risk profile of the Secured Portfolio (Mortgages) within the Bank’s risk appetite. Ensure consistent application and enforcement of the policies, processes, and controls.   

Establish an effective property valuation and monitoring mechanism as prescribed in the Real Estate Appraisal Standards and other relevant Policies/ Standards.

Drive the development of superior lending product offerings through customer-centric credit policies and process framework in order to optimize customers’ satisfaction and brand loyalty. 

Drive healthy portfolio with desired risk profile.

Business

Ensure effective portfolio monitoring mechanisms are in place including early warning and contingency plans.

Give timely feedback to the Business Heads when developing or revising product criteria (regarding location of properties to be taken as collateral, Loan to Value (LTV) to be assigned to landed property taking into consideration trends in Forced Sale Value (FSV) etc).

Assist the Country Credit Head in managing the Mortgage and SME Banking portfolio by ensuring adherence to Policies relating to collateral maintenance.

Responsible for the quality of the real estate valuation process for properties taken as collateral for loans, or properties identified as prospective collateral for loans.

Prepare Wealth & Retail Banking Secured (Mortgages) Credit documents including Credit Approval Documents (CAD), Credit Procedure Manual (CPM) and any test programs.

Processes

Regular monitoring of movements in real estate pricing and in supply and demand of the same. Maintain a database of valuations received for purposes of tracking property price trends, which information can be used to corroborate the Property Price Index (PPI).

Develop a robust process for tracking and managing construction mortgages in the country. This will include coordination with project teams for updates on developments in progress and review of stage inspection reports from bank appointed Valuers against Bills of Quantities and Schedule of Works

People & Talent

Ability to work with diverse teams across different geographies. 

Be a team player. 

Direction and coordination of the activities of real estate consultants.

Uphold and reinforce the independence of the Function from those whose primary responsibility is to maximise short-term revenues and profits

Risk Management

In consultation with Real Estate/ Property Management agencies/ firms, ensure establishment of a robust property price index and maintaining of up-to-date information on the same in coordination with Valuers.

Carry out peer valuations over valuations received in accordance with Real Estate Appraisal Standards and feedback to Business Heads.

Management of the Appraisal Program, as well as negotiating and managing the fee levels charged by appraisal firms.

Monitor Valuers' performance on regular basis and give feedback to the Business Heads on Valuer Turnaround Time (TAT) and quality of reports (comprehensiveness and compliance with instructions). This information may be used during the annual service providers review sessions.

Review of appraisal firms including details of new business assigned, peer review results, report timeliness versus the standard, and comparison of sales prices achieved in foreclosure scenarios versus original appraised value, instances of both over-valuation and under-valuation.

Review proposals for empanelment of new Valuers onto the Bank's panel.

Review of the Building Under Construction (BUC) developer panel list and the BUC control limits.

Ensuring monitoring of Under Construction properties as defined in the Risk Management Standards

Ensure monitoring and tracking of projects progress post approval.

Conduct Quality Assurance (QA) on Secured Applications or Valuation Reports and/or conducting Peer Review Process.

Gathering and sharing Market Intelligence & Insights

Regular monitoring of movements in real estate pricing and in supply and demand of the same.

Proactively identify portfolio problems and take corrective action by effective use of MIS and Analytics

Governance

Ensure implementation and enforcement of the credit policies and risk control procedures.

To ensure full compliance with the Banks, Building societies and Investment firms prudential sourcebook (BIPRU) requirements regarding collateral valuation.

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct. 

Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.

Lead to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] 

Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters

Other Responsibilities

Embed Here for good and Group’s brand and values in Kenya; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats)

Key stakeholders

Internal Stakeholders

Country Heads of Credit, Initiation/ Risk Operations

Country Heads/ Fraud Risk Managers

Members of Wealth and Retail Banking Risk Management Group

Cluster & Country Retail Banking Heads

Members of Country and Cluster Retail Banking Leadership Teams

Country and Cluster Heads of Control functions

Group Internal Audit

External Stakeholders

Real Estate Agents

Property Developers

Valuation Firms

Counterparts in Competitor Banks

Customers

Quantity Surveyors

Architects

Land Surveyors

Engineers

Skills and Experience

Real Estate Valuation skills

Property Price Index and Real estate Analytics skills

Mortgage Portfolio Management

Risk Portfolio Management

Vendor/Contract Management

Experience especially in the Real Estate Sector and Credit Risk Management. 

Knowledge of the local mortgage market and ability to maintain good relationships with relevant government authorities, property developers and Valuers.

Good understanding of the country regulatory and legal requirements relating to the property market

Qualifications

Minimum of Bachelor of Land economics/ Real estate

Membership: Valuers Registration Board.