Operations: a range of essential and complex services to ensure processes across the bank work as effectively and efficiently as possible
The role of the Transaction Manager is to co-ordinate the end to end transaction process supporting CFS Investment Banking Products in conjunction with various stakeholders (both internal and external to the bank) with a specific focus on deal closing, facility origination, ongoing facility administration, collateral and document management.
The CFS TM role includes the following key responsibilities:Once draft legal agreements or Term Sheet become available, ensure that the transaction being negotiated can be facilitated on the bank's systems with minimal manual intervention and can be administered within the bank's existing operational capabilities.For deals yet to reach financial close, or, after a deal handover, thoroughly read through the latest available credit paper related to that transaction to gain an understanding of the deal.Coordinate the Financial Close process for new deals and for refinancings/restructures of existing deals:Create and update the Conditions Precedent (CP) Checklist (where applicable);
Actively monitor the progress of the fulfilment of the CP's;
Regularly provide updated CP checklists to Credit;
Prepare and obtain sign off of the Deal Closing Memo
Obtain internal sign off of financial close from Business, Credit and Legal;
Coordinate the sign off of the CP Satisfaction Letter; where applicable
Load the CP Checklist; CP Satisfaction letter; Internal sign offs of financial close from Credit, Business and Legal onto DMS;
Finalise funding for the overall transaction with Money Markets for all match funded deals;
Ensure that the client is loaded on ACBS. If not, once KYC has been obtained, send instruction to the Ops Ref Data team to upload client on to ACBS.
Ensure required exchange control approvals are in place for all new deals, refinancings, amendments or extensions to existing deals.After thorough perusal of the transaction finance documents, originate all facilities on ACBS at Financial Close or at document signature date and ensure that the transaction on ACBS reflects the transaction structure as per the legal agreements including the following (where applicable):Fee Accrual schedules;
ACBS Covenant reminders, as applicable.Coordinate the Conditions Subsequent (CS's) collection process:Prepare a CS checklist (where applicable);
Ensure that all CS's are fulfilled by their agreed upon dates; and
Ensure that any further waivers of CS's are approved by Credit and Business.For all new deals, refinancings of existing deals and any secondary distributions, ensure receipt of copies of all Legal Agreements, CP documents (including CS's where applicable) credit papers and authority soughts and upload these onto DMS.Collateral Management:Ensure that electronic copies of all Finance and Security Agreements as well as originals of all underlying Security Instruments (unless these are to be held by a Security or Facility Agent), leagal opinions, resolutions and the internal legal sign off of Financial Close are lodged with the Collateral Management team;
Obtain confirmation of receipt by the Collateral Management team of all documentation sent to them;
Proactively follow up on all outstanding items as per the monthly outstanding items spreadsheet relating to Collateral and Legal distributed by the Collateral Management team;
Update the share cover monitoring spreadsheet on a daily basis and highlight any breaches to Business and Credit.Provide a comprehensive handover of all new deals as well as amendments/refinancings of existing deals to the Loans Admin and Product Control teams:Provide a copy of the Deal Closing Memo to Loans Admin and Product Control ;
Set up a meeting with Loans Admin to discuss the Deal Closing Memo;
Send copies of the executed Facility Agreement and final Credit Paper to the assigned Loans Administrator;
Ensure that Product Control are aware of all foreign currency and ZAR upfront fees being invoiced prior to Financial Close including any ZAR commitment fees that they may need to manually invoiced post Financial Close.Instruct Initial and Subsequent Facility Utilisations:Ensure that all CP's to utilisation have been met or waived by Credit (if applicable);
Ensure KYC compliance prior to instructing payaway;
Advise Credit and Business of all subsequent utilisations;
Ensure all utilisations are within agreed Facility Limits;
Book funding for all utilisations of any match funded deals with Money Markets;
Ensure SSI's are loaded and linked for ZAR deals;
Complete a Banking Authority Template for all utilisations;
Forward the Banking Authority Template to Loans Admin prior to agreed processing cut off times;
For syndicated deals, ensure that the rates quoted by money Markets agree to the rates quoted by the Facility Agent.Monitor monthly LGD's and PD's from those agreed at Financial Close against those as depicted in the monthly RCC data. Highlight any variations to Business and Credit as well as TMU's Collateral Steerco representatives.Co-ordinate the submission of league tables (if applicable).Ongoing deal management on ACBS:Ensure facility limits are maintained in line with the agreements;
Final Maturity Dates are correct;
Availability Period end dates are correct;
Unutilised facility balances are cancelled at Availability Period end dates.Manage all expiring facilities on ACBS:Identify all expiring facilities per the daily Facility Master Repor;
Where facilities are to be extended, extend the final maturity date on ACBS as per the executed amended legal agreements;
Should executed amended legal agreements not be available prior to the initial expiration date on ACBS, obtain Credit Approval to extend the final maturity date on ACBS to an interim date until such time as amended executed legal agreements are available and book funding accordingly.Actively manage deal covenants via ACBS generated Covenant Master Tracking report and update all covenants on ACBS as applicable.Follow up and manage outstanding fees and the recovery thereof in conjunction with Product Control and Loans Admin:Review and follow up on all outstandings as per the monthly debtors age analysis as distributed by Product Control;
Follow up and resolve all overdue items reflecting on the Past Due Report as distributed by Loans Admin.Raise any known risks and concerns on deals being managed to Credit and Front Office.Submit revised capital repayment profiles to Loans Admin for loans that are to be consolidated at rate reset dates and for loans that have been refinanced.Obtain annual Credit Review Papers from Credit and perform a thorough read through before loading onto DMS.Coordinate and conclude the Secondary Sales Process for the Distribution Team for any assets that are sub participated or sold down to another Buyer.Coordinate the early prepayment of any facilities with Loans Admin, Business, Money Markets and Credit including finalising Breakage Costs (if any).Advise Product Control to recognise any fees that are still being amortised for any deals prepaid before their final maturity date.For bi-lateral deals, coordinate the return of security to the Borrower upon final repayment of the facility and advise the Collateral Management team to mark the deal as obsolete on STOC.Cancel all facilities that are fully repaid on ACBS and DMS and inform Credit to do the same on Adaptive.Ensure Client Coverage is made aware of all impending and existing clients whose KYC status is non-compliant by perusing all KYC lists which are electronically circulated. This would especially apply to deals which are not yet fully drawn.Resolve deal specific queries, including queries from internal and external auditors.Assist with any specific BU projects that may require the assistance of TMU e.g. providing MI, performing a business analysis or testing of any existing or new systems.Attend TMU meetings, Business WIP meetings, IBO Townhall sessions, Business off-sites and client meetings (if possible).Complete Personal Development Plans on an annual basis and update these regularly as and when applicable. Set up regular meetings with line manager to discuss progress.Adhere to all regulatory and compliance requirements.Adopt the SBG PACT values at all times:Purposeful Collaboration:Attend and participate in team, IBO and BU meetings.
Actively engage with all internal stakeholders such as Business, Loans Admin, Product Control, Credit, Collateral, etc.
Ask questions and challenge the status quo.
Willingly share knowledge with fellow TM's.Active Recognition:Utilise the Beyond Excellence program to nominate colleagues who have performed well.Candid Engagement:Actively engage with Line Managers in performance feedback sessions.
Raise issues and concerns with Management and/or Human Capital.Total Accountability:Take full ownership and responsibility for your deals throughout the deal life cycle.
Preferred Qualification and Experience
Undergraduate degree in Commerce, Business Science or equivalent tertiary education.FAIS compliant
Yes / No
Preferred Experience Experience within a Transaction Management or equivalent Middle Office environment; orExperience within a Finance Team; orExperience within an Internal Audit team; orExperience as a Credit Manager; orCompletion of Articles with a bank or auditing firm.
Financial and numerical skillsRisk ManagementProject ManagementComputer LiteracyAbility to understand and interpret legal documents