Job Reference C.R.O./2018
Job Description
The collections& recovery officer collects on designated high risk delinquent accounts, maintains good customer relations with borrowers and effectively solves problems in an effort to resolve account delinquency and prevent losses.
Duties for the Collections And Recovery Officer Job
- Formulation and implementation of sound policies, strategies and systems that will ensure effective and efficient execution of repayment, inspection & compliance and recovery functions in the Board;
- Continuous and timely updating of loan accounts with periodical repayments to reflect accurate customer balances;
- Efficient recovery of all matured loans; Carrying out field inspections to ensure compliance by various parties on recoveries.
- Continuous monitoring of loan repayment for timely detection of non-payment and or stoppage; Carry out investigation and auctioneering/prosecutions of non-compliant parties;
- Collaborate with relevant stakeholders in tracing defaulted loanees and initiating recovery measures; To manage debt collection agencies contracted to recover outsourced loan defaulters;
- To ensure the attainment of Loan repayment & recovery department targets and objectives;
- Advise the Head of Credit on all matters relating to debt management and loan recovery;
- To ensure the development & implementation of succession planning policies through the establishment of coaching & mentorship programs; and Preparation and submission of periodic repayment and recovery reports to the Head of Credit for onward discussion by the management and the Board.
- Ensure effective loan repayment & recovery controls to manage PAR
- Assist in developing and maintaining the SACCO’s operational risk management, framework, polices and guidelines
- Assist in Inculcating operational risk management culture by operational risk awareness programmes to the staff.
- Monitor the environment to identify regulatory/legal/business/industry changes that could impact the SACCO
- Develop, maintain and operational risk key indicators in the key business processes and report to management and risk committees
- Review of operating losses summary data to ensure that key control themes are identified and that risk mitigation actions are adequate;
- Consult with business units regarding resolution of operational risk issues including regulatory examination recommendations;
- Ensure that operational risk models to measure operational losses are developed and implemented;
- Review the capital charge for operational risk and ensure accuracy
- Ensure Bank-wide compliance with Bank act regulations on operational risk
- Review Risk Management Self-Assessment and plans and provides commentary on operational risk issues to the assigned Enterprise Risk Management Officer;
- Lead or participate in bank-wide and industry operational risk related committees as requested;
- Partner with colleagues in the Business Units and Corporate support departments to develop corporate standards and promote awareness of ERM’s role and objectives;
- Develop and maintain close ties with Business Units to ensure informal early warning communication channels in place to identify business developments that potentially impact the Bank’s operational risk profile;
- Any other lawful duties as may be assigned from time to time by the Head of Credit or the C.E.O.
Collections And Recovery Officer Job Requirements
- Proven experience, as a collection and recovery manager or similar role in credit department
- Strong business acumen
- Sufficient knowledge of modern management techniques and best practices in recovery.
- Ability to meet business targets and goals
- Excellent organizational skills
- Be of exemplary integrity and honesty
- Must be empathic to Customer needs
- Be decisive and possess quick judgment skills
- Possess excellent business writing skills
- Be proactive and initiative
- Have excellent communication and interpersonal skills
- Must be self- motivated and be ready to work with minimum supervision
- Be a team player
Preferred Qualifications
- A relevant degree or Diploma.
- A professional qualification in credit is an added advantage.
- At least 5 years’ experience in a financial institution.
- Be between 30 – 45 years of age.
DISCLAIMER
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.
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