21 Oct
Bank of China
London
Job description
Personal Banking department oversees debit and credit card operations, and provides back office support to the Bank's branches.
The merchant acquiring business operations combined with comprehensive support services for third parties and merchant. As an Assistant Vice President Retail Loan, you will be responsible for post-sale debt management and its related activities along a defined customer journey within the Personal Banking which include forbearance support, debt recovery measures and repossession and its prevention.
This is a full time permanent position.
Key responsibilities
- Maintain the debt management framework and procedures for the retail business units and Personal Banking department
- Monitor and test the retail business unit’s compliance requirements in respect to the Bank’s policies and procedures related to the debt management
- Monitor and assess the Bank’s adherence to internal processes and compliance to the required standards of conduct, in relation to consumer protection and conduct risk within the Bank and the wider industry
- Coach, train and support credit and loan staff as well as mortgage underwriters in relation to their debt management duties which also include considerations through customers’ lens under the Consumer Duty
- Maintain market industry knowledge in terms of debt management, MCOB 13 and updates by the Regulators, the UK Finance and the UK legislations and regulations
- Work alongside key stakeholders and build effective relationships within the debt recovery team, and fulfil the requirements set out in the policies and procedures related to debt management function performed by the debt management officer
- Identify arrears pattern of borrowers and prepare a watch-list to monitor and prevent further credit deterioration, facilitate customer support and protect the customers’ and the Bank’s best interests
- Provide guidance and support to the frontline business units in terms of Breathing Space to customers in financial difficulty or distress, vulnerable customer support, forbearance support, re-possession prevention and support, and debt recovery measures in connection with re-possession along the customer journey against the product cycles
- Making liaison with external legal counsels in pursuing debt recovery work and assisting the frontline business units for the appointment of a third party legal counsel from the Bank’s panel recommended by the Bank’s legal team
- Maintain and monitor continuously debt recovery performance via quality assurance reporting, and provide guidance to the frontline business units
- Complete a quarterly debt management report with related data and MI, possible root cause analysis for outcomes, recommended remedial actions and outcome analysis against cross cutting rules and outcomes in a quarterly basis for Heads of business units
Requirements
- Degree educated preferably in Business Administration, Finance, Economics or other equivalent
- Demonstrated work experience in Banking and / or in the Mortgage / Intermediary Market
- Relevant professional qualifications full CeMAP, debt advisory diploma, NVQ diploma is preferred
- Take responsibility and ownership for delivering results through personal initiative and commitment
- Excellent communication skills with excellent writing proficiency
- Good interpersonal skill with the ability to form effective relationships at different levels in order to collaborate with, influence and engage key stakeholders
- Team player
▶️ Assistant Vice President - Retail Loan
🖊️ Bank of China
📍 London