Reporting to the Head of Transaction Banking, you will be responsible for Factoring facility setup and facility renewal, monitoring client/debtor performance, chasing overdue debts and implementing the established credit controls to safe guard the whole Factoring portfolio while growing the business to meet the annual budgets of the department.
- Conduct Factoring survey for both new facility and facility renewal, make recommendations to clients/prospects for changes needed in the billing process and assignment documents to minimize exceptions in assignment and risks
- Perform the ledger and aging analysis, help draft the Sales Ledger Analysis based on the survey results for further completion by Factoring Product Manager before passing to Relationship Managers for submission of Credit Line or Special Approval to Commercial Credit for approval
- Monitor the fulfillment of all facility/debtor activation conditions set by Factoring Product Manager and/or Commercial Credit, Import Factor and/or Credit Insurer
- Monitor overdue debts & follow up the collection of payment with clients and disclosed debtors, and keep credit insurer informed of the overdue status
- Conduct debt/invoice details verification with disclosed debtors to ensure correct debt outstanding
- Conduct periodic ledger check with clients for non-disclosed debtors, interim facility review, transport document check according to pre-defined monitoring procedures
- Track client/debtor performance and identify exceptional, problematic or suspicious debtor to provide early warning signals to supervisors, Commercial Credit and Relationship Managers to minimize potential credit loss
- Work with Credit Insurers on lodgment of claim and subsequent debt recovery work
- Follow up with import factors on debt collection status & to claim guarantee payment (if necessary) on overdue debts
- Prepare and circulate the monthly Factoring Credit Control Report
- Handle and resolve enquires raised by clients for factoring assignment and debtor payment
- Prepare and submit periodic operational risk reports as stipulated in the Operational Risk Policy, if assigned with such task
- University graduates with 3-5 years of experience in trade and/or factoring sales.
- Solid experience in evaluating factorability of prospect clients, conducting factoring survey, receivables reconciliation, and debt monitoring & collection.
- Good analytical skill and credit sense in analyzing relevant data from clients' portfolio and market in order to determine credit worthiness of the referred business.
- Strong business development skills and marketing sense to keep up-to-date information in implementing and monitoring business development.
- Strong interpersonal skills in establishing and maintaining relationship with internal and external customers.
Please note that only shortlisted candidates will be notified.