Officer; Debt Collection and Recovery (Fixed Term – 1year)
Job Location :
Head Office
Job Purpose:
The Officer; Debt Collection and Recovery will be responsible for
collecting and implementing recovery strategies by coordinating with
branches, debt collectors, Legal Counsel and Receiver Managers to
recover from non-performing loans and written off exposure to minimize
bank’s losses and risks.Recommended:
Main Responsibilities:
Responsible for recording amount collected, reconciliation, including
amount routed in Loan recovery and collection accounts and provide
report on a monthly basis.
Responsible for managing the recovery process by engaging debt
collectors/auctioneers through realization of security using appropriate
means.
Work with debt collectors/auctioneers and ensure all engagements are followed up and reports are provided on monthly basis.
Ensure that all accounts that are out of order are rectified immediately
by communicating to branch and customers via calls, where necessary
schedule meetings to agree on recovery plans; schedule personal field
visits where necessary and issue letters i.e. issuance of default and
demand notices for accounts managed by the unit (i.e. above 90 days
arrears).
Review all accounts at risk in one’s portfolio and ensure regular follow up on customers to pay arrears.
Support case review in order to understand the issues surrounding the case, verify security held, and determine the action plan.
Check and confirm that all Instructions generated have been sent for
approval and all previously generated instructions affecting the
portfolio are actioned.
Raise settlement requests to champion post discussion with Manager for approval.
Read Also:
Confirm that all operational errors previously affecting accounts have
been fixed and raised and escalated in case of unresolved cases.
Manage the recovery process through repossession, valuation and
realization of security through appropriate means in order to maximize
profitability from the assigned auctioneer.
Monitor the Receiver/Receiver Manager’s performance and control of receivership expenses.
Monitor implementation of agreed repayment plan and its adherence on
tripartite agreement between Debt Collection Agencies (DCA), Bank and
the client
Managing and coaching DCAs / Field Officers (FOs) for accomplishing collection targets / set goals.
Oversee and recommend allotment of debt for collection either by an external collector or internal Legal Counsel.
Manage agency capacity plan on who will hire collectors as per number of accounts referred to them (Account per Collector Ratio)
Ensure NPL for all segments is minimized through aggressive following up on the accounts assigned to Debt Collection Agencies.
Manage the main collection recovery account of write-off loan book.
Knowledge and Skills:
Business understanding of the bank’s loan products.
Understanding of end-to-end credit process
Bank credit policies, procedures and systems, Credit Appraisal, Restructuring, Computer skills
Attention to detail, coaching, communication, influencing, managing
relationships, negotiation, time management, self-directed work,
promoting a risk management culture.
Qualifications and Experience:
Bachelor’s degree or its equivalent in Banking/Commerce/
Accounting/Economics/Finance or related studies from recognized higher
learning institution.
Banking experience of more than 1 year preferably in Special Asset
Management, Business Support, or Workout Unit in a Commercial Bank, with
Asset management exposure
Read Also:
NMB Bank Plc is an Equal Opportunity Employer. We are committed to
creating a diverse environment and achieving a gender balanced
workforce.
Female candidates and people living with disabilities are strongly encouraged to apply for this position.
NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
Job closing date : 17-Aug-2023
