Zonal Technical Manager - Commercial Real Estate Finance , Mumbai

Job Description

Roles and Responsibilities

Mortgage policies on acceptable collaterals

Indian real estate sector is an unorganized industry. Property is a state subject matter & development norms vary with each state / city. Regulator has imposed several restrictions on real estate lending and hence fine tuning of policy on collateral acceptable is required for individual locations. Each state has different land laws, development rules, municipal byelaws, and local practices differ. This role is very vital in formulation of state level policies which will adequately secure banks interest and help business grow in line with competition. Develop strong understanding of Real estate Industry & keep an update on changes in local property byelawsReal estate being a dynamic industry Regional Technical manager keeps pace with industry changes by visiting locations to understand changing trends in prices, land development & construction byelaws, legal procedures followed locally with respect to mortgage of property. Technical manager shall visit offices of development authorities / Municipal corporations to understand development byelaws with respect to permissible FSI / FAR, open spaces, ht restrictions, changes in master plans which will affect the property valuations. This will enable to check the correctness of valuation reports given by valuation agenciesMonitoring of valuers / lawyersThere is a close interaction with these vendors on transactions and any proposed changes in land laws, building byelaws, development plans which will affect the real estate industry in locations. Existing valuer s lawyers who do not have the desired knowledge levels are recommended for replacement. Interaction with credit teamNorth Mortgage credit team consists of more than 65 credit managers, and credit team interacts with regional Technical manager on collateral related issues and seeks guidance on valuation and legal reports provided by the empaneled agenciesTraining of credit teamRole of technical manager is very critical to develop strong understanding within the group about valuation practices, legal processes, property appraisal norms, knowledge about building byelaws & local market practices, changes in development norms, changes in real estate prices in order to effectively manage the portfolio backed by property. He will need to Train credit and sales team on various collateral aspects (valuation and legal appraisal) as mentioned above. Address out of policy collateral deviationsAddress issues related to acceptance of collaterals due to non-availability of certain title documents, market value variances, acceptance of properties which are not in line with municipal byelaws / development plans or mortgage policies and suggest alternative to ensure business continuity and at the same time mitigate & safeguard Banks interest by adhering to regulatory guidelines. Track property price movements/Stress test on the PortfolioRegional Technical manager tracks the property trends in his region on a quarterly basis. A structured research report is published every quarter based on average capital values of residential & capital and rental values for commercial properties. This requires regular visits to locations, study on prices in new projects launches, demand & supply relationship, knowledge on changes in town planning & development plans if any. Policy changes are affected on assessment of these trends such as LTVs and discounting margins have been reduced during real estate slump. He will also need to do a regular stress test on the portfolio if there is a down fall in the real estate prices.PAR Audits on valuation reportsTechnical manager monitors the empanelment valuers to achieve the desired consistence on valuation and its reporting. PAR audits are conducted and published every month to ensure all locations follow laid down formats & policies. Technical manager also sample checks the valuations of properties as given by valuers by visiting the property and analyzing the factual market values Additional ResponsibilitiesWork closely with the Regional Technical Managers for amendments / new roll out of property Advisory / Guidance notes for newer Geographies (Semi urban / Rural areas) in line with Banks Objective.Develop a framework where product specific directions, Business escalations are managed effectively in co-ordination with credit and Business seniors which are in best interest of the bank with concurrence of all stake holders.Ensure implementation of action points on valuation Audits / RIC feedback on the valuers by taking appropriate action (show cause notices/ termination) in collaboration with regional credit & Regional tech Manager & ensure uniform implementation of policies and valuation methodologies.To develop strong fraud prevention and risk mitigation methodologies to ensure adequate control checks on valuations reports. Identify newer Avenues and processes for greater efficiency in collateral risk management and credit delivery and to drive process team to implement the solutions for the same. Drive technological changes to ensure adequate control checks are built in system on collateral policies, to ensure the same are effectively implemented by underwriting teams. Co-ordinating with CSU team/IT Team for system enhancement with Policy Changes.,

Keyskills :
btstransmissiongsmreal estate lendingenvironmental impact assessmentstress testnew projectsmarket valuerisk managementrisk mitigationfraud preventionlegal proceduresland developmentbusiness continuityfinding opportunitieslegal reports