Established in 1985, the Eastern and Southern African Trade and Development Bank Group (TDB Group) is a multilateral, treaty-based, investment-grade development finance institution, with 41 sovereign and institutional shareholders and assets of approximately USD 8 billion. TDB Group currently serves 25 economies in eastern, southern, and western Africa regions, with the mandate to foster trade, regional economic integration, and sustainable development. For more information, visit www.tdbgroup.org.
TDB aims to attract and retain exceptionally talented professionals by offering a conducive working environment and attractive salaries and benefits. In line with its growth strategy, TDB is looking for self-motivated and results-oriented professionals to join a team committed to building a world class financial institution aimed at promoting trade, economic development and regional integration. Interested and qualified candidates are therefore invited to apply for the subject position.
Agency Operations Unit
The Agency Operations Unit (acting as the appointed facility agent for all syndicated loans arranged by the Bank), manages all syndicated loan administration and monitoring activities, covering the pre-funding, funding and transaction lifecycle phases, on behalf of all syndicate lenders. The Unit coordinates all secondary trade back-office processing (buying and selling of loans on behalf of all syndicate lenders), and administers syndicated loans arranged by the Bank, offering comprehensive Facility Agency and Security Trustee services on such facilities.
Loan Agency Operations also provides Agency operations services to the Asset Management Department (AMD). This covers the collection and distribution of payments of principal and interest to the Eastern and Southern African Trade Fund (ESATF), transfer settlement documentation, KYC compliance processing, rate fixing, collection and distribution of fees to the Fund, security trustee functions and reporting.
Job Summary
Reporting to the Head, Loan Agency Operations , the incumbent will be responsible for carrying out a selection of daily operational and oversight activities in relation to a portfolio of syndicated loans in TDB’s role as Facility Agent and ESATF assets. This includes all operational processing, effective handling of process related queries and the implementation of the Bank’s policies and procedures. They will continuously provide high quality service to achieve accurate and timely execution of transactions, ensuring a world-class service that our counterparties expect.
Duties and Responsibilities
The Senior Loan Agency Operations Officer performs the following duties:
- To proactively attend to the Unit’s duties in ensuring accurate and timely disbursement and administration of syndicated loans arranged by the Bank, loan transfers in the secondary loan market, management of ESATF assets and the preparation of relevant reports.
- To minimize the occurrence of operational irregularities through a conscientious approach to daily duties and to ensure any relevant issues are reported to the Head, Loan Agency Operations in a timely fashion.
- To review loan facility documentation from an operational perspective and interpret the operational and administrative aspects of loan documentation throughout the life of the facility.
- Condition precedent (CP) satisfaction (including KYC/AML compliance), and conditions subsequent (CS) notification and management.
- Manage and administer the facilities on the loan operating system.
- Manage syndicate notifications, including drawdowns, rollovers, repayments, interest rate fixing and processing of fees and all cash flow between borrowers and syndicate lenders.
- Ensure that all required fees including management, commitment fees, Agency and Security Trustee fees, etc. are collected in a timely and accurate manner.
- Ensure that documents under the information undertaking clauses of the Facility Agreements are diarized and submitted in a timely manner
- Manage waiver requests for amendments, restructurings, insolvency, administrations, events of default, acceleration and the coordinate dissemination of information and feedback to such requests in a timely and accurate manner
- Assist in managing secondary trading process activities, including trade confirmations, novations, transfer certificate processing and onboarding new lenders.
- Manage Debt Domain Loan Agency platform (or other loan agency/administrations implemented by the Bank) for effective loan administration, monitoring and distribution of documents.
- Coordinating interactions with internal counterparties such as Coverage, Loan Operations, Treasury, Finance, Legal, Compliance and Loan Operations regarding the management and administration of facilities in Agency Operation’s portfolio.
- Assist in liaising with loan agency system vendors (such as Ipreo Debt Domain and S&P Global) to resolve any issues arising.
- Provide support with receipt of all security documents and that they are in accordance with agreed terms. Same properly filled, retrieved appropriately and returned to the borrower at the expiry of the facility.
- In an event of default, ensuring that enforcement is done as required under the Bank’s policies and procedures and in accordance with instructions from the majority Lenders.
- To carry out other duties as required by the Head, Loan Agency Operations.
Duty Station
The duty station will be Nairobi, Kenya.
Qualifications and Job Competencies
- A Masters’ degree in Business Administration, Accounting, Banking, Finance, or Economics with relevant syndicated loan certification as an added advantage;
- A minimum of 8-10 years of professional experience years working experience in the financial services industry, with at least 2 years in an Agency, Security Trustee, and/or Loan Administration department/function;
- Experience in the syndicated loan market and good understanding of the African debt markets, with proven background in loan administration, monitoring and loan book accounting;
- Sound knowledge and experience in secondary loan trading and experience in working with automated loan processing platforms such as Debt Domain, ClearPar, Loan IQ etc., will be an added advantage;
- Knowledge and experience of formatting SWIFT messages;
- Strong Microsoft Excel, Word and IT skills;
- Demonstrated ability to collaborate cross-functionally to achieve results;
- Ability to engage borrowers, top tier banks, non-banking financial institutions and other transaction parties;
- Excellent verbal and written communication skills in English. Knowledge of TDB Group’s other working language (French) would be an added advantage.
Application Procedure
Interested and qualified candidates should express their interest by submitting their applications by 28 July 2024 through TDB career website.
Applications should include a resume, cover letter, academic and professional certificates, full contact address and the names and addresses of three referees.
Please note that only shortlisted candidates will be contacted for further processing. TDB is an equal opportunities employer.
