Specialist: Business Rescue needed at IDC

QUALIFICATIONS: 

• Minimum requirements: The incumbent must have commercial qualifications e.g. BCom with post graduate degree / CA(SA)
• MBA / MBL would be an advantage
• Legal Qualification would be an advantage

KNOWLEDGE AND EXPERIENCE:

• At least 5-8 years’ experience in a Turnaround and Restructuring environment – businesses experiencing distress.
• Experience in Business Rescue advisory and processing
• 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 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 SBUs and Post Investment Segments in respect of their clients who are showing early signs of operational and/or financial stress. 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 1) diagnose cause of distress and 2) 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 meetings
• Prepare and present regular monitoring submissions to Portfolio Monitoring Committee
• Provide efficient service to both internal and external stakeholders/clients;