Lead, Verification

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JOB PURPOSE

• To manage verification & monitoring on the contract financing facility disbursement, operational credit/payment requests, monthly reporting, and early identification & reporting of delinquent & doubtful accounts.
• To manage verification of customers' & suppliers' documents for facility disbursement.
• To manage & oversee/monitor contract proceeds received from the contract/project awarder.
• To build-up relationship with Contract/Project Awarder for any follow-up related to contract progress payment.
• To manage operational Instruction to FCAD and Trade Center for the following matters:
• i. Request to disburse Contract Financing facilities.
• ii. Collection of security margin upon disbursement.
• iii. Collection of sinking funds upon received of progress/interim payments/advanced payment.
• iv. Request to pay supplier through advanced payment receipt.
• To manage preparation of instruction & compilation necessary documents to Branch for opening of Escrow Account, OD/Cash line-i Restricted Account, & Sinking Fund Account.
• To manage instructions on operational matters to Business Financial Support (BFS) for all operational issue.
• To manage recovery aspect for contract financing portfolios by minimizing risks, prevent losses, maximizing recoveries and restore profits on problem accounts.

ACCOUNTABILITIES

• To check and confirm with Finance Department of Awarding Party that the Assignment/ILI has been served and executed, and also Customer's/ Main Contractor's (if applicable) Escrow Account has been tagged in the Awarding Party's payment system.
• Pre-financing facility - Must be supported by Purchase Order (PO), Invoices, Delivery Order (DO) etc., payable directly to suppliers/ sub-contractor. The tenor for suppliers shall be calculated from the delivery order date or invoice date whichever is later.
• Post-financing - Must be supported by claim invoices / services completion certificate, etc. The tenor shall be calculated from the last signed date.
• Together with RMs is to check and follow-up on claim invoices/purchase orders/services completion certificate or any other documents allowed by the Bank submitted by customer. Thereafter, liaise with Awarding Party/ Main Contractor on the contract/project collections.
• Joint site visit between VMU and RM, if necessary, to be conducted to Customer office and/or to Contract/Project site before each disbursement to ensure the request is against the latest progress works/claims.
• To manage Customer instruction/request for disbursement/drawdown.
• To manage all instruction/memo/invoices/correspondences from customer to the Bank shall be signed by the company's authorized personnel as per the company's resolution. The authorized signature shall be verified against the list of authorized signatories in the Authorized Signatory file. Should there be any differences, VMU may decide (at its discretion) not to proceed with the drawdown/settlement.
• To verify borrower's application/ instruction against approved terms and conditions (e.g. supplier as per approved supplier's list). For cases vary from the approved terms and conditions, approval from the relevant approving authority prescribed in the CAM/FAM or Credit Manual is needed prior to utilization.
• To do site visit to be conducted for delay in the project progress against the original work programme by 10% to verify the next course of action to reduce the gap. Subsequently, monthly report on progress of the delay is to be submitted to GCM.
• Tracking maturity:
• To update tracking every disbursement and settlement of each facility and to be signed off by RM CF and Head CF.
• To undertake tracking maturity of each facility and provide "trigger alarm" to RM for follow-up.
• To ensure that utilizations are as per CAM/FAM approval.
• Other Tasks
• Relief functions as and when required.
• Adhoc tasks as and when required.
• Focus on monitoring of delinquent account.
• To manage and identify early warning symptom of problem accounts and dig substantively underlying facts and bring clear issues to focus.
• Proactively manage and monitor the accounts under Underperforming Stage 2 Accounts and Early Control to maximize full recovery.
• Develop effective strategy and action plan with the RMs on account basis to 'manage up' or 'manage out' the problem accounts.
• Weekly and monthly follow up on regularization of all overdue accounts - EOL, Overdue trade bills and arrears on term loans.
• Underperforming Stage 2 and Early Control accounts:-
• Avoid surprises through early detection and identification and reporting of all problem accounts.
• Dig substantively and develop facts and strategy.
• Bring key issues into clear focus supported by a time bound account strategy.
• Proactively manage Underperforming Stage 2 and Early Control accounts to reduce the loan exposure risk in order to maximize the likelihood of full recovery.
• Prevent further deterioration of accounts into non-performing category.
• Effectively managing the accounts within a targeted timeline.
• To phase out unprofitable or problematic accounts with little likelihood of a turnaround and that which do not create value to the bank.
• Completion of Reports
  a. Preparing and ensure that all reporting under CVF completed to meet the dateline.
  b. To liaise with Heads or RM for the latest information concerning the contract and projects especially for those that have been delayed compared to the last progressive report.
  c. To call and workout with RM for better coordination on best solution to make good of an account.
  d. To coordinate and update Heads/RMs on latest information on delayed project/contract.

JOB REQUIREMENT

• Bachelor's degree in Finance, Accounting, or related field.
• Minimum 8 years of experience in corporate banking, credit operations, or vendor financing.
• Strong understanding of contract structures, vendor management, and risk controls.
• Experience in leading verification or monitoring functions is highly preferred.