Credit Risk Analyst
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I am a driven, hardworking individual that takes charge and run with an opportunity or challenge. Making sure all deliverables are met within designated timelines. I have a passion for solving complex problem statements via practical solutions either working on my own or within a team structure of specialists leveraging off different views, inputs, and experience to come to a holistic solution.
I have c. 20 years’ experience working, travelling and understanding the African continent, corporates, and financial institutions, navigating through the various and ever changing political-, economic- and operational challenges. I also overlay this with the larger geopolitical and economic challenges and developments on the global level and the potential spillover effects and repercussions of the jurisdiction or region covered. I am forward looking in identifying potential changes on a Macro level and what that could mean for a country, corporate or financial institution operation thereof.
My core expertise is around Country Risk and Credit Risk (FI, Corporates etc) with a specific, but not limited to Africa, India and China. Therefore, any Country Risk or Credit Manager Role in the Financial industry space, should be suitable. It can be either a Credit or Risk role for Financial institutions that take risk in those jurisdictions or even at an Advisory level for companies or institutions looking at clients that want to do business via clients or direct investments in these jurisdictions.
Also advising or assisting in determining strategies and investment risk for Fund Managers or Funds with assets (or likely additional investments) in these jurisdictions – i.e. identifying the underlying country risks as well as client specific credit risk and profile. Even insurance companies running contingent or direct risk in their insurance portfolios where they are exposed to these countries or clients operating there.
Date: February 2022 – To date
Employer: Rand Merchant Bank South Africa
Position: Head of Country Risk
▪ Lead and manage the Country Risk team (5 Analysts) to ensure that Country- and Credit Risk strategies align to Bank Risk Management frameworks to contribute to portfolio growth, sustainability and compliance across the Bank and broader FirstRand Group.
▪ Highlighting key Country Risks to applicable Credit Committees and Business Forums. Country Risks include:
o Economic o Political o Legal o Sovereign o Security and Terrorism
▪ Propose mitigating steps and solutions for cross border transactions to minimize above risks when doing business in different jurisdictions.
▪ Identify early warning signals and potential impact of that on the Banks cross border portfolio and capital at risk.
▪ Stress testing of government finances and solvability regarding ability and willingness to service its debt.
▪ Maintaining in-house rating (PD) and Loss Given Default (LGD) models to rate a Country’s Credit Risk and assign a sovereign LGD.
▪ Maintaining in-house Country Ceiling models and Country Rating Piercing models/methodologies to assist with corporate/transactions rated above the sovereign.
▪ Writing and updating of a Country Risk Framework, detailing credit risk appetite (prudential limits) for the Bank in selected geographical areas of the world (specifically Africa, India and China), per risk class (risk rating bracket) and for each individual country. Understanding the impact of cross border exposure on the Bank’s capital position and overall balance sheet – thus preserving/appeasing external rating agencies (and shareholders) that we don’t unduly take excessive risk.
▪ Advising and guiding numerous business units through difficult and complex cross border transactions, navigating them (and help mitigate) key country risks.
▪ Contribute and updating the FirstRand Group’s “house-view” of forecasts on key economic variables and risk scenarios of jurisdictions where the Group has subsidiaries Also a voting member of the FirstRand Macroform, signing-off on above views.
▪ Member of various committees and business forums.
Date: March 2021 – December 2021
Position: Head of Treasury & Risk Treasury:
▪ Oversee of cash management initiatives and prioritization of all payments across the Group of Companies.
▪ Management of all Bank and lender relationships and credit limits.
▪ Establishes short-term borrowing needs.
▪ Recommends alternative financing strategies.
▪ Oversees issuing letters of credit.
▪ Manages bank guarantees.
▪ Acts in a lead role in capital structure, debt management to ensure the most efficient use of the company’s capacity and borrowed monies.
▪ Assists Finance with developing key inputs into the balance sheet, income statements and cash flow statements for annual plan. Risk & Compliance:
▪ Ensure that the Company complies with all legislative or regulated requirements and keep abreast of changes.
▪ Established and compiled the Group’s Risk register (quarterly Risk and Compliance Report) submitted to the Risk and Audit committee. Identified key operational, economic and financial risks to the Group and how to monitor, improve or mitigate them as best possible.
▪ Attend to all legal papers served on Kamoso Africa. Review all legal contracts regarding supply and offtake agreements as well as terms with any contractor contracts.
▪ Writing and implementing key policies:
o Group credit card policy o Company mobile phone and car policies o Conflict of interest policy o Payment supervision and process policy
Date: June 2018 – January 2021
Employer: Rand Merchant Bank Botswana (RMBB) – Credit
Responsible for the management of the Corporate and Investment Banking (CIB), State Owned Enterprises (SOE’s) and Financial Institution lending portfolios from a credit perspective, valuing over BWP 4.5bn (c. USD450m) for RMB Botswana.
▪Managing a team of 5 Credit Origination Analysts.
▪Supervision of annual credit reviews and new originated credit applications, facilitating the credit approval process under the mandated approval body or committees.
▪Pro-active management of potential stressed Clients, Economic sectors etc. by implementing additional credit enhancements and collateral.
▪Member of in-country credit committees.
▪Member of both RMB Botswana and FNB Botswana Exco committees, focussed on strategy, efficiency and best practise.
▪Training and up-skilling Credit Originators in the Credit team.
▪Writing of credit policies and putting in place prudential and portfolio limits for the management of concentration risks.
Support and input provided to:
o Provisioning of the portfolio according to IFRS 9 standards;
o Early Risk Management (ORM) and Debt Restructuring Committees and Clients;
o Business strategies;
o The origination and structuring of new and complex business transactions providing support and structuring solutions.
o Property Finance (Development- & Fund Managers);
o Resources;
o Fast Moving Consumables & Distributers;
o Retail.
o Botswana Power Corporation (BPC);
o Botswana Development Corporation (BDC);
o Water Utilities Company (WUC);
Date: January 2016 – May 2018
Employer: Rand Merchant Bank – Diversified Credit
▪Responsible for analysing the credit quality of a portfolio of clients including the following:
Non-Financial Institution Clients:
▪Pension Funds;
▪Asset Managers;
▪Medical Aid Schemes;
▪Unit Trust Funds;
▪Brokers
▪Mining & Resources;
▪Telecommunication & IT;
▪Retail;
▪Determining the credit quality of each client by analysing the latest financial statements, assessing its repayment profile (stress testing in cases), assessing the quality of management and the macro- and sectoral environment in which it operates.
▪Using above mentioned information to generate a Probability of Default (PD) and Loss Given Default (LGD) ratio for each counterparty;
▪Annually presents and propose the Rating, LGD and Facilities for approval at Credit Committee;
▪Have a thorough understanding of the type of product (or transactions) that is marked for each client and ensure that Credit is satisfied with the Credit Risk profile of the client vs. product mix extended to it;
▪Working with business (front office) in the structuring of more complex transactions to minimise our risk;
▪Fostered productive relationships with both internal and external clients.
▪The Diversified Credit Team was established during January 2016 with the aim of developing new Junior Analysts and giving them sufficient Credit Risk background over a number of sectors and asset classes. Once experienced Credit Analysts are then placed in specialised Credit Teams.
▪I was selected to join the team to help mentor and guide the new appointments through the various Credit Risk models, systems and general credit assessment skills.
Date: 2014 & 2015
Position: Senior Financial Institution (Bank) Analyst
▪Managing Credit Risk of a portfolio of banks in Africa with the special focus on West Africa in particular, Angola; Nigeria and Ghana;
▪Analysing each individual bank’s credit risks by considering financial statements and cash flows. Also understanding the asset quality, capital buffer and liquidity needs;
▪The writing of a banking sector report for each of these countries, doing peer comparisons, determining the 1st & 2nd tier banks and managing Rand Merchant Bank’s (RMB) total exposure against all of the banks in each country under its Country Risk limit;
▪Presenting and proposing a PD, LGD and credit limits for each bank at the Credit Committee.
▪Creating a credit “heat map” with early warning signals for the Angolan and Nigerian banks – noting the underlying economies reliance on oil exports. Understanding the potential impact of an oil price shock could have on the banking system and individual banks;
▪Above “heat map” tracked, currency movements, stock prices (where available), oil dynamics and outlook, USD availability in the market, individual bank bond yields and on the ground information provided by RMB’s or First National Bank (FNB) operations in the specific countries. Both country and bank visits also proved vital to the overall analysis. This heat map was circulated every week to RMB’s risk executives;
▪During this period I also attended the Global Markets Credit Committee as a Risk Executive for both Bank- and Country risk applications.
Date: 2009 – 2013
Position: Head of Country Risk at Rand Merchant Bank
▪Managing a cross border Country Risk portfolio of US$5.6bn of which Africa accounted for US$3.6bn and China and India US$1.42bn.
▪Creating and developing in-house rating (PD) and LGD models to rate a Country’s Credit Risk and assign a sovereign LGD;
▪Created a cross border LGD methodology for non-SA transactions and structures;
▪Creating and implementing an in-house system to integrate and manage Country Risk limits and exposures to be used in portfolio management;
▪Building and managing a Country Risk team consisting of 6 - 8 Analysts for the Bank – at that point in time there was not an internal team of analysts, as this risk function was mostly outsourced to an external party;
▪Creating and updating the Country Risk Framework, detailing Credit Risk appetite (prudential limits) for the Bank in selected geographical areas of the world (specifically Africa, India and China), per risk class (risk rating bracket) and for each individual country. Understanding the impact of cross border exposure on the Bank’s capital position and overall balance sheet – thus preserving/appeasing external rating agencies (and shareholders) that we don’t unduly take excessive risk;
▪Advising and guiding numerous Business Units through difficult and complex cross border transactions, navigating them (and help mitigate) key country risks. Some of the main transactions were:
o Ghana – Contributed in Rand Merchant Bank being one of the lead arrangers of the annual Cocoabod syndication loan (>US$1bn);
o Ghana - Kpone IPP Power Project (Cenpower): US$150m;
o Ghana - Tullow: Reserve based loan, Revolving credit & pre-settlement facilities: US$100m;
o Nigeria - Oando Wings property development: US$100m;
o Angola - Trade and working capital line, via BPC (LC exports to Angolan Government) relating to infrastructure spent of c. US$600m o Tanzania - METL Group: Working capital facilities of c. US$50m
Date: 2006 – 2009
▪Weekly update reports; monitoring countries on a daily basis;
▪Annual review and presentation of countries to the Main Credit Committee;
▪Monthly Risk Analysis reports/updates on selected country (on request). Analyse market developments (EMBI spreads, stock markets, currency ext.), Macro-economic indicators and Policy changes – assessing change in Sovereign/Country Risk. In light of the global economic/commodity downturn during 2007/2008, monitoring changes in commodity prices (oil, copper etc.) and the impact of that on selected countries like Angola, Nigeria, Zambia etc.
▪Assist to compile a monthly sovereign/country “Heatmap” – identifying possible stress areas/regions and deteriorating sovereign creditworthiness.
▪Drafting of annual Country Risk Analysis reports on selected EM and African countries. Analysing in detail the country’s macro-economic/social economic indicators and assessing the underlying country risk.
▪Reporting/Presenting on these countries at the Main Credit Risk Committee and provide recommendations of the country’s credit worthiness and assigning Sovereign rating to the country.
▪Identify main Country Risk areas (political/operational/economics) in a potential jurisdiction to facilitate/advise business units with its deal structure to mitigate these risks as far as possible.
▪Assist the Business units to identify possible growth areas (new business), cross border that matches the Banks risk appetite and the business unit’s expertise/competitive advantage.
▪Portfolio Management: Managing/monitoring of overall country limits/exposures per country, geographic area and division – monitoring concentration risk in business sectors, countries etc.
Date: 2004 – 2006 Employer: NKC Economists
BCom Econometric Honours Degree 2003
BCom Econometric Degree 1999-2002
