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Job Description
Job Purpose
To assist & support in managing functions/activities of Syndication Agency and review of facility documentation etc. Maintaining and updating all records, bookkeeping for tracking and timely communication with customers/banks. Prepare IOMs & all related financial calculations, track and follow up documents with Legal and ensure that all applicable documents (duly approved by legal/sharia) are executed and received. Ensure accuracy and timely release of reports as per assigned frequency.
Key Responsibilities
Review the approval/sanction and check that all credit facilities are approved as per delegated authorities in the bank and terms and conditions are clear in the sanction
Prepare Mandate Letters/Term-sheets and Commitment Letters.
Review Fund Documents prepared by the external legal counsel and make sure that these are not contrary with Investment Committee Approvals/IMs and PPM.
Make sure that all required approvals are in place before launch of a new fund and before seed funding.
Arrange necessary income accruals and follow-up with Fund Managers for periodic dividends / fees to be received.
Advise COD for distributions to investors and recognize DIB income of dividends and fees as well as arrange to pay fund expenses after necessary approvals and keep track/records.
Maintain and reconcile necessary suspense accounts required to park dividends, fees and reserves in order to distribute, recognize and or pay expenses of the relevant funds.
Prepare Monthly & Quarterly portfolio reports and exception reports to be presented to the senior management in order to ensure correct reporting of exception by ensuring timely updating documentation exceptions.
Review Facility Documents prepared by the external legal counsel and make sure that all syndicate terms and conditions are translated into the documents as well as DIB credit conditions are also covered.
Arrange to get CP satisfaction confirmation from the transaction legal counsel and make sure that Borrowing authorities/powers and supporting constitutional documents are evidenced as customers’ borrowing powers and authorized signatories.
Receive drawdown request and prepare contribution request for the participants making sure that all the pre-requisites are in place for drawdown/contributions request.
Arrange to open CIF for the new customers or the Amanat accounts as required and update LMS for the facility limits and terms & conditions.
Upfront and periodic fees calculation, distribution, monitor, track and follow-up.
Maintenance, Tracking & follow-up for periodic profit, variable rentals, fees and appropriate/distribute according to the requirement/documentation. Also make arrangement that DIB share of income is processed in the relevant income accounts.
Updating Collaterals in the LMS and updating valuation periodically and releasing these upon settlement of the facility. Deleting all the Old Documents from system/folders and arrange to send these to Old Record with proper documentation and maintain record for retrieval/tracking.
Assist in preparing and updating process documents (SOPs and SLAs).
Competencies/Skills
Education
Graduate/post graduate, preferably finance and banking
Work Experience
3-4 years’ experience in credit administration / experience in managing syndicate accounts facility.
