About the Role
The Resident Engineer will execute scrutiny of the valuation reports, technical reports, project progress report and cash flow statements related to the Contract / Real Estate financing facilities being granted by the bank. He shall conduct periodic visits to the projects’ sites under Contract / Real Estate financing to compile the Progress reports. The incumbent will coordinate with the External Consultant engaged by the bank for the evaluation of the Contracts / Projects financed by the Bank, and will meet Business Groups and clients, contractors, promoters and consultants of the projects. The job holder shall be working in line with QCB / CBK and internal policy guidelines to mitigate the risk inherent in project / contract / real-estate financing and ensure proper assessment of cost and effective monitoring of projects / contracts financed by the Bank. The incumbent will also coordinate activities pertaining to the assessment and valuation of assets used by the Bank’s corporate clients offered as collateral for credit facilities, and will ensure that all securities / collaterals are properly valued based on current market prices. The incumbent will also identify and maintain close contact with qualified evaluating firms, as approved by the Bank.
Detailed Roles and Responsibilities Include
- Perform all activities, as assigned by the Head of Risk (KWT), in compliance with local regulations, Doha Bank’s policies and approved Technical Evaluation Unit’s P&P (@HO). Co-ordinate closely with the Sr. Technical Eng. at the HO (in the CCU / CRMD) before finalizing and submitting to the reporting authorities.
- Maintain highest standards of confidentiality, professional conduct, ethics and integrity in the provision of services in the section.
- Analyze the proposals and feasibility studies submitted by clients requesting for Real Estate Finance / Project Finance; verify the reasonableness of the assumptions and provide opinions regarding the construction cost, revenues, durations etc.
- Verify the performance, skills and capabilities of the contractors and consultants proposed to carry out the project / contract financed by the Bank. Assist in evaluating the resources of the contractor to verify its ability to execute the underlying contract being considered for Bank’s financing.
- Assess performance capability of the sub-contractors to be appointed / engaged by the contractor to execute the underlying contracts financed by the bank.
- Verify all factors involved in project financing including, but not limited to the scope of work, BOQ, Variation Orders, Extension of Time, etc.
- Review the agreement between the promoter and the contractor to verify the scope of work, project duration, contract value and payment terms and conditions. Attend kick off meeting with Consultants and Contractors, as and when needed.
- Review the reasonableness of cash flow submitted for project finance and the LC’s breakdown and other requirements.
- Review the certified invoices submitted by the Contractor in light of the achieved work on site and recommend payment releases, as applicable.
- Review LC requests under projects financed, as and when a technical engineering verification is required, compared to the previously verified LC schedule against actual progress on site.
- Prepare and/or generate and provide Quarterly Progress Reports on all projects financed by the bank and personally conduct site visits, as directed by the reporting authorities.
- Attend periodic progress meetings with Project Consultants and Contractors and to report back to the management.
- Make necessary arrangements for property evaluation from external evaluators and carry out internal property evaluations when deemed necessary.
- Participate in preparing the Watch List of the Kuwait Branch by identifying the early warning signs related to projects financed by the Bank.
Education & Experience Required
- University graduate with a degree in Civil Engineering.
- 5-7 years of relevant experience, out of which at least 2 years must be in a similar role in banking industry.
- Preferred Kuwaiti national, bilingual (Arabic & English) is an advantage.
If you meet the above requirement email your updated CV in English on email@example.com (mention in the subject line the position applying for).
Please Note: Only the shortlisted candidates will be contacted.