Manager Syndicate, Agency Desk

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

Oversee all operational tasks related to syndicated deals, encompassing both agency and participant roles, with CBD serving as an account bank for commercial banking and financial institutions. Authorize loan-related transactional approvals within the credit middle office, adhering to established service standards. Actively contribute to the implementation of new products/services and enhance processes for existing products, ensuring alignment with prescribed policies and procedures.

Principle Accountabilities

Processing all loan (other than loans against invoices, trade loans) drawdown approvals through the LDR process, after satisfying with the terms and conditions stipulated in the Facility Agreement.

Processing PPC discounting approvals through the LDR process related after satisfying with the terms and conditions stipulated in the Facility Agreement.

All exceptions to be raised to Business to obtain required approvals to issue the LDR.

Approve transfers out from Bank controlled accounts after validating collateral requirement, if any

All monitoring related to PPC, rental income, PDC warehousing are checked and satisfied as per approval conditions Support Unit Head to carry out all operational work relates to syndicate deals, both agency & participant roles as stipulated below:

As Agent

- Coordinate with participating banks to gather administrative details for future correspondences.
- Share Condition Precedents (CPs) with participant lenders, including CBD Legal, upon receipt from External Legal Counsels (ELC), and seek their approval. Once consent is obtained from all lenders, relay the information back to ELC.
- Manage any waiver requests from the borrower according to CBD Legal and DCM directives and communicate lender consents to CBD Legal and DCM to obtain the borrower's sign-off on the waiver/amendment request prepared by ELC. Following sign-off, communicate the same to all participants for their consent.
- After receiving the approved CP satisfaction letter from ELC via CBD Legal and DCM, notify all participant banks by email about the financial close of all CPs.
- Collect all fees from the borrower as outlined in the fee letter and inform all participants of their respective amounts and payment dates. For local banks, obtain a VAT invoice and share it with the borrower through the business team.
- Instruct the Business team to inform the client that the CPs have been met and the facility is now available for use.
- Proceed with the borrower's utilization request once all terms and conditions, such as DSRA, supporting payment certificates, and KYC, are fulfilled and signed off by authorized signatories.
- Inform participants of the borrower's intention for a drawdown and distribute the drawdown notice in advance.
- Obtain the applicable LIBOR/EIBOR rates from Treasury, set the interest period as outlined in the syndication facility agreement, and send interest rate notices to all participants via email.
- Ensure the loan proceeds are deposited into the borrower's account by the date specified in the utilization request.
- Execute all subsequent rollovers, rate notices, interest and principal payments, and fees such as unutilized and commitment fees, in a similar manner with participants.
- Facilitate secondary market transactions.

In General

- Ensure all collaterals, covenants, and other monitoring conditions, including periodic fees, are tracked, alongside reconciling Nostro, Escrow, and Bank-controlled accounts related to syndicate operations, any anomalies should be reported to the Department Head (DH).
- Monitor and measure standard processing and volumes can lead to productivity improvements through benchmarking.
- Reduction the re-work rate, review and centralize control activities according to management directives, and implement automation to enhance control efficiencies are critical.
- Maintain the adherence to (SLAs) and (TATs) agreed upon with stakeholders and improve TAT for credit processes through automation is essential.
- Training staff within the department and ensuring effective backups for critical positions are in place is necessary.
- Implement Credit Control policies and procedures of the Bank, as well as adhering to the relevant guidelines of the UAE Central Bank/Government, is required.
- A constant review of the day-to-day functions of the Unit and checking End of Day (EOD) reports to ensure activities are performed according to Operations Procedures, and updating Standard Operating Procedures (SOPs) periodically to achieve a satisfactory audit rating for the Department is important.
- Conduct periodic reviews of Credit Control guidelines based on market changes is advised.

Requirements: