All matters pertaining to the day-to-day operations for the LFCRD function, support services to business units and administrative matters thereto.
Day-to-day operations of the following units: -
Redemption
Custodian
Discharge & Settlement
Office Services
JOB PURPOSE
Provides leadership and strategic oversight across multiple related teams, with full accountability for performance and outcomes covering Redemption, Custodian, Discharge & Settlement, and Office Services.
Drives section wide process improvement initiatives, resources planning, and priority setting, ensuring effective allocation of people and resources.
Identifies and resolves complex technical and operational issues to improve processes and manage both internal & external customer expectations.
Act as the primary liaison with outsourced vendors, including Iron Mountain Berhad for customer security documents management and Crown Management for non-security documentation storage.
Holds Power of Attorney for ABMB, AIS, and AIBB.
KEY RESPONSIBIITIES
Overall responsibility for the management of the following units: -
Redemption, Custodian, Discharge & Settlement, and Office Services, including related projects supporting Corporate Banking, Commercial Banking, SME, Consumer Banking portfolio for ABMB, AIBB and AIS.
Overseas day-to-day support functions, ensuring full compliance with Group policies, regulatory requirements, and statutory guidelines.
Accountable for adherence to the LFCRD Manual, Standard Operating Procedure (SOP) and Service Level Agreement (SLA).
Supervises and develops staff through coaching and training, strengthening technical capability, reinforcing core values, and building a high performing, collaborative team.
Performs additional duties as assigned by the Head, Group Central Operations.
Redemption
Issues redemption statement for Business, Consumer, Staff, Personal and Hire Purchase loans for all branches nationwide under ABMB & AIS, in full compliance with Bank Negara Malaysia turnaround time requirements.
Handles and responds to redemption statement requests from lawyers and branches promptly and accurately.
Maintains and updates notice dates, early redemption penalty fees, system massages and related parameters.
Verifies and ensures accuracy of outstanding loan balances, early settlement penalties, ZEC fees, undrawn amounts, and legal fees in accordance with the Letter of Offer, with confirmation obtained from the Customer Collection team.
Coordinates with Koperasi Pembangunan for Personal (KOOP) loans to confirm applicable KOOP fees and ensures these are correctly included in the redemption statements.
Liaise with the Custodian Unit to confirm complete documentation prior to issuance of redemption statement.
Dispatches redemption statements to customers and coordinates with lawyers and branches for collection.
Prepare and submits weekly performance reports for management review of the Redemption Unit.
Settlement & Discharge
Settlement and release of security documents for Business, Consumer, Staff, Personal and Hire Purchase loans nationwide under ABMB & AIS, in full compliance with Bank Negara Malaysia turnaround time requirements.
Attends to requests from lawyers and branches for settlement and release of security documents.
Prepares accounting entries for CASA debits and refund of excess to borrowers.
Coordinates with the Consumer Collection team to confirm applicable legal fees.
Verifies the redemption amounts collected aligned with the Letter of Offer and the issued redemption statement.
Ensures all redeemed loans reflect a zero balance after posting entries.
Requests security documents from the Custodian Unit and release them to the borrower’s appointed solicitor.
Updates and maintains all required details in the Master Tracker to generate settlement letters, covering letters to lawyers, checklists, MRTA letters and related documentation.
Identifies and escalate suspicious or potentially money laundering activities to Risk Unit in compliance with Anti-Money Laundering (AML) requirements.
Prepares and submits weekly performance reports for management review of Redemption Unit.
EPF Issuance
Issues EPF withdrawal statements for Consumer Housing loans across all branches nationwide under ABMB & AIS.
Responds to EPF statement requests from customers and branches in a timely manner.
Verifies outstanding loan balances and legal fees against the Letter of Offer, with confirmation obtained from the Consume collection team.
Coordinates with the Custodian Unit to confirm documentation completeness
Inputs and maintains all relevant details in the Master Tracker and generates EPF statements via ILS
Dispatches of EPF statements and notifies branches for customer collection.
Custodian
Ensure safekeeping of all security documents by lodging received documents into the vault and OSP within the stipulated turnaround time, with all withdrawals properly monitored and accounted for.
Monitors and follows up on pending or outstanding security documents from solicitors after loan disbursement, ensuring timely tracking and closure of all cases.
Oversees the issuance of Security Completion Certificates (SCC) within agreed turnaround time.
Ensure the Master Tracker for pending security documents is consistently updated, accurate, and complete.
Ensures prompt tracking and follow-up on missing documents with Land Offices, Solicitors, Developers, and relevant parties, including arrangements for replacement or CTC where required.
Tracks and monitors compliance with covenants imposed for business loans.
Reviews and prepares payment memos for solicitors’ bills relating to replacement of security documents, as well as payments for OSP bills and invoices.
Covenant Tracking
Covenant tracking in relation to covenants imposed in the Letter Offer / Letter Advise for customer to comply for new loan or facility disbursed with covenants
Follow-up on Compliance of Covenant
Reporting of non-compliance/breach of covenant
Security Compliance Certificate (SCC)
Preparation of Security Compliance Certificate (SCC) for Corporate and Commercial Customer ONLY (For SME Customer SCC no longer required)
Service Quality & Office Services
Overall, in-charge to provide guidance to the team in handling any late payment charges, investigate, obtain approval, liaison with multiple parties ie. sales, solicitor(s), customer(s).
Manage service quality matters and CRM.
Other Primary Job Responsibilities
Responsible for proper policies and controls in place of the Bank’s credit administration matters of the above-mentioned areas.
Responsible for staff management, development and succession planning.
Responsible for implementing a proper tracking system to improve efficiency and turnaround time, accurate and timely submission of reports to management and BNM.
Responsible for guiding the team on Compliance to Group Policy, regulatory and statutory guidelines/rulings.
The incumbent is accountable for ensuring compliance with internal and external regulatory rules and regulations.
