Senior Officer - Recoveries (1 Position)

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Senior Officer – Recoveries (1 Position)

Reporting to the Manager Remedial & Recoveries – Retail, the role holder will be responsible for proactively managing written-off recoveries for Retail Banking accounts in order to boost the recoveries on the P&L and to ensure full compliance with internal and statutory regulations and guidelines on asset quality to minimize losses to and maximise revenue for the Bank.

KEY ACCOUNTABILITIES:

Manage recoveries on the written off accounts under retail Banking.
Make collection calls and/or conduct field visits.
Develop repayment plans on customers’ financial situation and advise customers on alternative repayment options.
Resolve and provide customer service regarding loan related matters. Communicate and follow up effectively with customer queries, disputes etc.
Process customer instructions within set TAT guidelines.
Issue repayment reminders and /or demand notices.
Updating customer files.
Enlist the support of the Manager- Remedial & Recoveries-Retail to resolve more complicated loan matters and identify root causes of non-payment.
Prepare and Present cases to ICC that are within the mandate of ICC.
Refer matters to Legal in a timely manner when turnaround of a payment plan of a written off facility is breached or not possible and ensure foreclosure and/or recovery actions are done in the most cost-effective manner and within set procedures to minimize losses & negative publicity (reputational risk).
Process release of securities for accounts that have been paid off.
Support the Collection Support officer in Following up on Insurance claims and related documentation.
Recommend accounts to be outsourced to our external debt collectors for unsecured loans and litigation depending on the matter.
Creating awareness to other bank staff on portfolio management.
Initiate and follow up the foreclosure process within the guidelines of the Foreclosure and manage property acquired as a result of foreclosure.
Deal with stake holders eg Auctioneers & Bailiffs, External Lawyers and External Debt Collectors.
Any other duty as advised.

KNOWLEDGE, SKILLS, AND EXPERIENCE REQUIRED:

Bachelor’s Degree in Economics, Statistics, Commerce, Business Administration or equivalent.
4 years’ experience in a Financial Institution with at least 1 – 2 years’ experience in credit approval & structuring, credit administration and debt recovery.
Credit administration and credit analysis skills are an added advantage.
Thorough understanding of the Bank’s Credit policies.
Thorough knowledge of FIA/IFRS guidelines & regulations on asset quality.
Basic understanding of the legal framework.
High standards of performance and Control of Quality
Leadership, management (Initiative, decision making, dispute resolution, good customer service, very good negotiation skills).
Proficiency in computer packages specifically Word, Excel and PowerPoint.
Knowledge of Bank governing laws and regulations.
Relationship management skills.
Excellent numerical skills.
Computer skills.
Negotiation and presentation skills.
Possess excellent interpersonal, written and oral communication skills.
Willingness to travel extensively and to work long hours where required to achieve the Bank’s objectives.
Demonstrated knowledge of banking regulations, policies and procedures relating to Loan Workout processes.
Knowledge and understanding of the laws, processes, and documentation about foreclosures, legal action, and solvency/bankruptcies, and recovery of delinquent commercial loans.
Proficient in the use of Microsoft Office applications and utilization of various applications for loan collections & recovery.
Excellent understanding of the banking act and prudential guidelines.
Good knowledge of banking products and evolving credit risk management systems.
Business Management / Knowledge.
Financial Management.
Project & Data Management.
Change Management.
Accounting / Budgeting skills.
Risk Management, ability to identify and take corrective steps.
Credit evaluation skills (restructure debt).