Stanbic IBTC Bank Recruits Property/Asset and Leasing Officer

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa's financial system for 150 years, and now spans 16 countries across the African continent.

If you are really committed to building your future career, then you need to work with a bank that has earned an unrivalled global reputation for trust, innovation, and service. As the largest bank in Africa, we now operate in 38 countries worldwide focussing on emerging market opportunities

We are recruiting to fill the above position of:

Job Title: Property/Asset and Leasing Officer

Job ID: 11890

Job Location: Nigeria

Position Description

• Acquire suitable premises to meet the Bank’s network needs, arrange for a rental assessment to be undertaken on the offered property, undertake market rental surveys and negotiate the best possible market related lease terms and conditions on new leases, renewals and relocations, early termination of existing leases (if required by the Bank), relocations, closures and sub-letting in respect of the Bank’s network needs in leased and bank-owned buildings.
• Reduce the Bank’s rental exposure where premises are vacated prior to the expiry date of the lease by negotiating sub-lease agreements or cancellation of existing lease agreements.
• Protect the Bank’s interests by undertaking a due diligence on properties offered to lease.
• Manage expiry dates pertaining to leased premises and ensure that lease agreements are renewed six months prior to the lease expiry date.

4.2 Purchase of property

• Purchase suitable premises to meet the Bank’s network needs.
• Arrange for a valuation assessment to be undertaken on the offered property.
• Undertaking a due diligence on properties offered to the Bank for purchase.

4.3 Bank owned buildings

• Retain existing third party tenants, if their business and tenure contributes to the Bank’s profits and the building’s needs.
• Vacant premises will first be offered to the Bank and other Bank entities.
• If the Bank does not require the premises, the premises will be offered to the public.
• When leasing to a third party, the Bank’s exposure will be fully protected through effective documentation, due diligence on prospective tenant, financial control and records.
• Ensure that the Bank’s property is well maintained.

NB: Where necessary and as applicable, the above points (4.1, 4.2 and 4.3) includes ATM sites, Branch premises, land, residential property, expatriate accommodation, warehouse property and Boarding Houses.

5. Functional Responsibilities:

5.1 Acquire Leased premises for the Bank and Bank entities

• Acquire suitable leased premises to meet the Bank’s network needs.
• Arrange for a rental assessment to be undertaken on the offered property.
• Protect the Bank’s interests by undertaking a due diligence on properties offered to lease.
• Obtain property title documentation and arrange for Legal Department to undertake property ownership due diligence.
• Undertake market rental surveys, and where necessary, appoint a property company to undertake a rental assessment if premises are not presently leased to the Bank.
• Compile motivations for approval to renew a lease agreement or for a lease over a new property (if rental, period and due diligence is acceptable).
• Once the lease is approved, arrange for Lessor and agent to be paid (plus all taxes).
• Request Legal Department to draft the lease agreement.
• Take vacant possession or the property. Collect keys and drawings of the property.
• If necessary, place a security guard at the premises.
• Arrange for Legal Department to draw up the lease. On receipt of a draft lease, check that the lease is correct in terms of Lessee and Lessor details, rental, the premises, period, etc.
• Ensure that the Lease is signed by the Lessor and Lessee. Ensure that the original lease is filed in safe custody. A copy of the lease is to be filed for easy access within the office.
• A second copy of the lease is to be sent to Stanbic Africa, 3rd floor, 5 Simmonds Street, Johannesburg, South Africa for capture on the Stanbic Africa Data Base.
• Arrange payment of rental. Ensure that taxes are also paid.
• Six months before an existing lease expires, send an offer to renew to the Landlord.
• Maintain a reliable and up-to-date electronic lease renewal diary and ensure that details of lease agreements for all accommodation on the Stanbic Data Base are correct;
• Negotiate lease renewals, closures, addition/reduction of area and relocations by identifying suitable premises according to needs and affordability in desirable areas.
• In the case of sub-letting, the successful sub-tenant is to be evaluated in terms of normal credit rating criteria.
• Prepare of detailed motivation to the Bank detailing terms and conditions of sub-letting or lease cancellation for approval to proceed.

5.2 Purchase property for the Bank’s own use

• Purchase suitable premises to meet the Bank’s network needs.
• Arrange for a property assessment to be undertaken on the offered property.
• Protect the Bank’s interests by undertaking a due diligence on properties offered to purchase.
• Obtain property title documentation and arrange for Legal Department to undertake property ownership due diligence. At the time of requesting a due diligence over the property, simultaneously ensure that approval of the purchase is sought from the Central Bank of Nigeria.
• Should the purchase price and due diligence report be acceptable, compile a motivation for authority to purchase. Once purchase is approved, arrange for seller and agent to be paid (plus all taxes).
• Request Legal Department to draft purchase documentation.
• Take vacant possession or the property. Collect keys and drawings of the property.
• If necessary, place a security guard at the premises.

5.3 Bank owned buildings

• Ensure that “To Let” signs on vacant premises.
• Offer vacant premises to existing Bank tenants. If not required by the Bank, offer the vacant premises to other tenants within the building.
• Create a “vacant premises” file for all Bank owned buildings (also place on data base).
• Network with reputable Property Brokers/Agents to lease vacant premises.
• Undertake a market rental survey to establish market rental for vacant premises.
• Retain existing tenants by being proactive towards their needs.
• Professionally deal with problems to ensure long term relationships.
• Renew lease agreements at market rentals and ensure that rental is collected in advance.
• Ensure that executed lease documents are placed in Safe Custody. Place a copy on file and submit a copy to Stanbic Africa in Johannesburg for capture on the data base.
• Continually update Johannesburg Data Base and ensure that all records are up to date and correct at all times.
• Ensure that Bank owned buildings are well maintained and that external cyclical maintenance programs are in place.
• Ensure that rental and operating costs are collected from Tenants.

5.4 Reports and meetings

• Maintain an efficient and accurate management reporting system on the Department’s activities.
• Attend meetings and be well prepared for every meeting.
• Assist with the implementation of all approved plans and ensure that time frames are met.

5.5 Service delivery

• Relationship building with internal and external customers, property brokers, landlords and colleagues.

5.6 Subordinates

• There are two subordinates: Property Administrator and Leasing Administrator
• Arrange ongoing training, motivation, team work and development of staff.
• Perform interim and annual appraisals, address shortcomings and training/upskilling as and when required.
• Implement counsel and performance meetings to address and solve problems and carry out proper line management human resource practices in terms of training and job descriptions.

5.7 General

• Have a sound knowledge of the property market and market rentals in particular, through regular liaison with Landlords, Property Developers and Brokers.
• Ensure that an aggressive leasing profile is maintained in the property market by negotiating the best possible lease terms and conditions with Property Agents, Property Developers and Property Owners utilising knowledge of letting market conditions and rentals.
• Maintain close contact and liaison with the Bank regarding the co-ordination and establishment of the Bank into new premises.
• Exercise problem solving skills to effectively solve leasing and purchase related problems experienced by the Bank.
• Ensure that executed lease documents are placed in Safe Custody. Place a copy on file and submit a copy to Stanbic Africa in Johannesburg for capture on the data base.
• Once the purchase of a property is concluded and registered, ensure that a copy of the Occupancy Agreement/Title Deed is placed on file and the original is placed in safe keeping with Legal Department.
• Continually update the Johannesburg Data Base and ensure that all records are up to date and correct at all times.
• Compile and monitor budgets.

Required Skills and Qualifications
Leasing:

• Analyze, draft and negotiate real estate lease proposals and leases, and make appropriate recommendations. Work with tenants and brokers to attract and maintain tenants and achieve favorable lease terms. Work with and manage attorneys to effectively resolve legal issues.
• Manage the leasing/tenant review process.
• Manage the leasing/lease files process.

Management:

• Develop strategic business plans for each asset that will govern its daily operations, its ultimate positioning in the market place and define its potential holding period.
• Possess strong working knowledge of the mechanics of real estate, including but not limited to ability to abstract leases, interpret accounting reports and obtain and analyze market and demographic information.
• Manage property operations for multiple asset types including retail, office, industrial and multi-family.
• Develop and maintain a complete understanding of each asset for which you are responsible, including its market position and all underlying factors that may influence it.
• Manage the tenant improvement/capital improvement/commission process (i.e., tracking conditional and unconditional lien releases, capital payment approval and processing, variance analysis) in an efficient and timely manner.
• Conduct market research (update demographic and market information for each asset area for strategic planning and reporting purposes).
• Review property management reports. Work closely with property managers to develop strong relationships through sound leadership.
• Track weekly status reports from property managers (multi-family assets).
• Understand architectural plans and contracts, engineering studies, schedules, and how to craft lease language when appropriate to protect the landlord.
• Review and negotiate contracts for architectural, construction and other consulting services.
• Maintain detailed and complete work files (i.e., progress checklists, work lists, agenda, orderly and organized work environment).
• Supervise the completion of lease abstracts for new leases.
• Assume responsibility for the acquisition/due diligence process, including the selection of appropriate property managers and leasing agents, initial capital and operating budgets as well as review and approve acquisition underwriting assumptions.
• Develop tracking schedules for new developments, construction projects, capital projects, etc.
• Analyze appraisals, market, and economic reports.

Financial Analyses:

• Supervise the completion of asset valuations (hold/sell analyses and annual and quarterly valuations) in an efficient and timely manner.
• Perform general analysis functions (i.e., CAM reconciliation’s, PM contracts, RFPs, construction and vendor contracts).
• Prepare, review and approve budgets that will implement your strategic business plans.
• Review cash flow models.
• Review and understand the inputs to financial models and how they were derived.

Client Relations/Reporting:

• Manage the reporting process (business plans and monthly and quarterly reports) in an efficient and timely manner.
• Prepare annual portfolio review materials including preparing and delivering written and verbal annual portfolio reviews to trustees, consultants, and client staff.

Required Competencies

• Degree in Estate Management/Land administration.
• Member of the Nigerian Institute of Estate Surveyors and Valuers.
• At least 3 - 5 years on the Job experience
• 26 - 35 years of age.

Mode of Application
Interested and qualified candidates should:
Click here to Apply

Application Deadline: 9th August, 2013