Senior Specialist- Business Rescue needed at Industrial Development Corporation

Qualifications:

Minimum requirements:

• Commercial qualifications e.g. BCom with post graduate degree
• MBA / MBL would be an advantage

Knowledge and Experience:

• At least 8-10 years’ experience in a Turnaround and Restructuring environment – businesses experiencing distress.
•  Experience in Business Rescue advisory
•  Knowledge of business and the diversity of risks that may affect businesses.
• Good understanding of different types of security.
•  Good working knowledge of Chapter 6 in the Company’s Act, Contract, Taxation, IFRS and Insolvency legislation.
• Good knowledge of Industry standards, technology trends and best practices

Roles and Responsibilities

• Provide advice and support to Sector Business Units (SBUs) and Post Investment Segments in respect of clients who are showing early signs of operational and/or financial stress.
• Assist in recommending the suitable Business Rescue Practitioner
• Attend all meetings to do with the specific Business Rescue process

Plan and execute the Business Rescue process of IDC clients experiencing distress through:

• Carry out Business Reviews to diagnose cause of distress and  ascertain reasonable prospect of client becoming operationally and financially viable;
• Determine the optimum Rescue solutions that will improve the company’s viability,
• Determine the optimum Financial/non-financial Restructuring intervention that can be implemented to support the Rescue strategy
• Influence the Business Rescue process for the benefit of the IDC;
• Evaluate Business Rescue plan presented by the Business Rescue Practitioner and recommend changes;
• Safeguard IDC’s Security position through maintaining and/or improving the recoverability of IDC’s exposure,
• Draft and present submission reports to various decision making committees,
• Review drafted legal agreements to ensure they capture the IDC credit committee approval
• Closely monitor the implementation of the Business Rescue strategy through attending Creditors meetings; Interaction with key stakeholders; regular client visits; etc.
• Regularly update the Business Advisory & Turnaround monitoring platform (SAP) iro tracking progress against process and status update notes;
• Attend and contribute to the monthly Business Advisory & Turnaround Portfolio Management meeting
• Prepare and present regular monitoring submissions to Portfolio Monitoring Committee
• Provide efficient service to both internal and external stakeholders/clients

Job Requirements

TECHNICAL COMPETENCIES

• Business Turnaround & Rescue
• Financial modelling
• Analytical/Diagnostic Skills
• Business/Commercial Acumen
• Problem Solving/Solution Generation
• Client Insights & Focus
• Formulating strategies and concepts
• Report writing Skills
• Project Management Skills
• Stakeholder Management