Now hiring – Recovery and Debt Collection Manager

 

 

JOB TITLE: RECOVERY AND DEBT COLLECTION MANAGER
DIVISION: CREDIT & OPERATIONS
UNIT: HEAD OFFICE
SECTION: DEBT RECOVERY UNIT
REPORTS TO: HEAD OF CREDIT & OPERATIONS

 

JOB DESCRIPTION

Reporting to the Head of Credit and Operations he /she will ensure compliance with internal credit policies and procedures, best practices and CBK prudential guidelines to facilitate management of credit risks within tolerable levels. The Job holder will ensure that ALL approved and disbursed loans are full repaid as stipulated in the terms and conditions to prevent loss to the institution due to prompt non-repayment.

  1. KEY MEASURABLE GOALS.

  • Ensure the PAR is maintained within the institutional targets.
  • Ensure prompt realization of loan securities.
  • Ensure high TAT on insurance claims processing.
  • Adherence to internal credit policies and loan administration procedures regarding collections.
  • Ensure the recoveries against write-offs target is achieved
  • Mentor and training of the department personnel
  1. KEY RESPONSIBILITIES.

  • Ensure one day arrears management for all disbursed loans
  • Liaising with Head of Credit & finance to ensure appropriate adjustments are made to the provisions for Bad & doubtful debts as per prudential guidelines in order to comply with IFRS requirement
  • Record and maintain a track of all the recovery progress for all loans in arrears
  • Prepare weekly arrears reports for all the branches and follow with them to ensure full repayment.
  • Prepare demand letters and ensure that they are forwarded to the defaulting customers.
  • Prepare debt collection instructions to external service providers to facilitate recovery as per the debt recovery guidelines.
  • Prepare reports and make recommendations on bad debts to be written-off to the management for approval.
  • Processes and maintain an updated register on loan related insurance claims and ensure prompt reimbursement.
  • Monitor debt collection response cycles and contacts as well as credit control performance
  • Overall assessment of Non-Performing Advances, Debt Recovery success rate, critically reviewing the amounts due in an efficient and cost-effective way.
  • Manage resource scheduling and the determination of priority of work and procedures to maximize production output and success levels.
  • Report and monitor all risks associated with debt recovery
  • Generate compliance reports for use in decision making and performance appraisals
  • Monitor, on a continuous basis, all transactions to ensure that unusual and suspicious transactions are reported to the Money Laundering Reporting Officer (MLRO)
  • Implementing and enforcing the board approved AML, KYC & CFT policy in as far as is applicable within debt recovery.
  • On case by case basis, assessing Bank’s positioning and its ability to recover amounts due without forced realization of securities held as far as possible. Detailed negotiations with defaulting clients for facilities restructure.
  • When realization of securities is inevitable, ensuring that the process is handled procedurally in order to avoid delay through intermittent litigation and potential risk exposure.
  • Undertaking periodic review of securities held against all non-performing facilities to ensure these are perfected and that no dilution happens during debt recovery period.
  • Planning and closely coordinating the debt recovery process with various stakeholders including Lawyers, Valuers and auctioneers to avoid undue delay and recovery cost escalation.
  • Liaising with head of Credit & Operations to ensure provisioning held against bad & doubtful debts are adequate and in compliance with the prudential guidelines.
  • Where the bank is represented in court by other witnesses, ensuring these witnesses are well prepared with factual information and absolute clarity on the background of each case.
  • Do any other duties that may be assigned by the Management.

Education

Business Degree, with a desired understanding of ICT, MS Excel, Access

Knowledge and skills

  • 4 years’ experience in credit and debt collection. Two must be in management
  •  Knowledge in credit management is an obvious advantage
  • Legal knowledge in commercial law will be an added advantage
  • Practical experience in Lending and recovery
  • Speed and accuracy

Experience

  • 3-5 years

Personal attributes

  • Capacity and willingness to work for long hours and within strict deadlines.
  • Excellent interpersonal skills
  • High degree of confidentiality
  • Analytical mind
  • Knowledgeable on the Financial services sector
  • Assertive
  • Honest
  • Highly organized
  • Creative and Innovative
  • Proactive and fast decision maker

Applicants should send their CVs and testimonials to info@sumacmicrofinancebank.co.ke on or before December 05, 2020.