Job Purpose: 

• Support the Securities & Documentation function of the Legal Department in creating and verifying the Bank’s security documents to ensure compliance with set parameters, enforceability, and alignment with customer expectations, while supporting the Bank’s overall strategic objectives.

Key Responsibilities:

Securities Perfection/Documentation Responsibilities: 

• Issue Security perfection instructions to external Advocates in accordance with terms of facility letters.
• Review all security documents prepared by external Advocates prior to execution to ensure that terms and covenants of the security documents are comprehensive and enforceable and that the amounts secured, description of properties and assets being charged are accurate.
• Ensure Advocates procure pre-registration searches from the Companies Registry, Lands
• Registry and the Moveable Property Security Rights (MPSR) Collateral Registry and review them to ensure (i) there are no prior/existing security rights in favour of 3rd parties and advise Business where such prior rights are revealed (ii) In case of corporate borrowers or guarantors, the signatories to the securities are legitimate.
• Attend to the execution of Bank securities by Bank Attorneys or Directors and attest to the execution prior to releasing documents to Advocates for registration.
• Continuously engage with external Lawyers on security documentation process to ensure that security documents and other conditions have been perfected/ completed within the agreed TAT.
• Review registered security documents upon receipt from Advocates to confirm completeness of the registration including payment of stamp duty, payment of rates and rent where applicable, priority of Bank security is observed etc;
• Undertake registration of MPSR Notices at the Collateral registry for all externally perfected securities and for jointly registered Motor vehicles and take such other actions as required under the MPSR Act.
• Safe keeping of security documents by scanning them all into respective customer folders and lodgement of the physical documents with the security custodians as well as uploading copies into DMS.
• Maintain up-to date reports on the status of all security documentation being prepared and/or registered by the Bank’s external advocates.
• Update the business teams on the status of security documentation and advise of any factors delaying the progress and completion of the perfection and propose strategies to unlock delayed security perfection process.
• Draft and guide on execution of internal security documents that do not require external Advocates action eg the Informal Charges & Security Agreements.
• Continuously monitor changes in Laws and case Law to ensure that the Bank’s security documents are up to date and comply with those changes and advise Business units on changes and how to manage any risks posed.
• Assist the business teams in formulating optimal security structures against possible facilities and/or customer requests.
• Advise the Business of any gaps or errors in facility letters when read against approval terms, customer constitution documents, title documents or description of other assets and recommend and if required, assist with drafting of appropriate revised clauses.

Pre-disbursement Review & Sign Off: 

• Ensure the following are adhered to and undertaken within the required time frame:
• Approve pre-disbursement checklists in respect to Business Banking Segment and issue the same to Credit Administration department for purposes of disbursement of facilities upon confirmation that all collateral and non-collateral requirements as per the Credit approvals have been fully complied with and Bank’s interest fully protected;
• Ensure that all exceptions and and/or deferrals provided to allow disbursement are approved in accordance with the Bank’s credit approval authority matrix.
• Ensure that internal SLAs are adhered to in the handling of pre-disbursement requests. 

Undertakings: 

• Negotiate and review terms of Bank-to-Bank undertakings from other financiers to ensure the terms can be fully complied with and the Bank’s interest is protected and follow up to ensure compliance with the terms to avoid exposing the Bank to legal suit, reputation risk and financial loss.
• Negotiate and Review terms of Bank-to-Bank undertakings required from the Bank where the Bank is taking over customer facilities from other financiers or where the Bank is financing the purchase of property/other assets, to ensure that undertakings issued by the Bank are within the approved terms and are enforceable.
• Negotiate and review terms of Professional undertakings required from external Advocates for the handling of Bank security Documents where temporary release of the documents is requested e.g. for change of user, registration of short term leases, conversions of title etc and follow up to ensure compliance with the terms of the undertakings. 

Reports: 

• Assist in the preparation of the reports relating to facilities disbursed pending security perfection to be submitted to CRMC, BCC and any Prepare and maintain a report pertaining to security documents temporarily released for various reasons (e.g. creation of tenant leases, extension of lease, amalgamation, sub-division, change of user, conversion of Titles, sharing of securities etc).

Legal Advice:

• Offer day-to-day legal and technical advice to Business and Credit teams before, during and after appraisal of Credit facilities on structuring of credit facilities and securities to ensure cost effective and legally enforceable securities.
• Advise the Bank on its rights and remedies under any legal documentation, particularly but not limited to security documents.
• Monitoring changes in Laws and case Law to ensure that the Bank’s security documents are up to date and comply with those changes and advise Business units on the changes and how to manage any risks posed.

Other Duties:

• Supervise and co-ordinate the review of any other security documentation that the Bank may enter into with third parties.
• Advise the Bank on its rights and remedies under any legal documentation.

Key Performance Indicators:

• Turnaround time for perfection of securities within the set SLAs.
• High quality of the security documents that are enforceable and can stand the test of court.
• Accurate reporting of all outstanding securities.
• Submission of the pre-disbursement checklists within the period set in internal SLAs.

Academic Qualifications & Work Experience:

• Bachelor of Laws (LLB) degree from a recognized university.
• Diploma in Law (KSL) and Admission as an Advocate with a current practicing Certificate.
• Minimum Seven (7) years’ experience in legal practice of which three years should have been in a Financial Institution.
• Must demonstrate managerial and administrative skills backed by leadership qualities.
• Possess a high degree of professional ethics & personal integrity.
• Must possess strong communication skills, be flexible & service oriented.
• Ability to think critically and strategically.
• Ability to work with minimum supervision.