Faulu MFB - Debt Recovery Officer

KEY TASKS AND RESPONSIBILITIES

KEY MEASURABLE GOALS

• Ensure the PAR is maintained within the institutional targets
• Ensure timely recoveries of the NPAs
• Ensure prompt realization of loan securities
• Ensure high TAT on insurance claims processing
• Ensure efficiency and high performance of External Service providers
• Ensure the recoveries against write-offs target is achieved

KEY RESPONSIBILITIES

• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery
• Execute the institution’s strategy in reducing the NPA portfolio as per laid out guidelines in the institution’s credit policy
• Management, collection, and recovery of outstanding amounts under assigned portfolio with a view of reducing the non-performing portfolio as per communicated targets
• Restructuring and curing of accounts within the assigned portfolio to ensure maximum recovery of banks assets hence minimizing on loan loss provisions
• Negotiating with clients and coming up with suitable exit or rehabilitation strategies for non-performing accounts within assigned portfolio
• Ensuring that non-performing loans are properly priced to minimize income leakages
• Highlight and analyze credit failures to identify ways of improving Credit Approval process
• Effective use of allocated resources to minimize costs
• Recovery of all loans that get to NPL and ensure that due process is followed in the realization of collateral
• Monitor loan repayments globally and initiate/recommend course of action
• Instruct and follow up with External Service providers on NPA matters i.e., debt collectors, auctioneers, tracking companies, valuers etc.
• Conduct client visits (on a need basis) and telephone calls to follow up on payments from NPA debtors
• Ensure the written-off portfolio is tracked and recovered as per the bank’s objectives
• Report on NPAs (Write offs, Collections, Security Cover etc.) on a regular pre-determined basis and provide information for stakeholder reporting
• Ensure the recovery process is fully implemented as documented and take corrective actions for any exceptions
• Ensure a record is maintained with track of all the recovery progress for all loans in NPL and there is ease of access to recovery documentation
• Ensure 100% utilization of the collections system as well as other systems that may be implemented to aid recoveries in the bank
• Ensure 100% closure of all recovery related complaints in the CRM as per SLA
• Ensure weekly NPL update reports are prepared for all the branches and follow with them to ensure full repayment
• Ensure demand letters are prepared in a timely manner and the same are well documented as required by law
• Ensure reports are prepared and recommendations made on bad debts to be written-off to the management for approval
• Ensure an up-to-date register on loan related insurance claims is maintained and ensure prompt reimbursement from underwriters
• Follow up all cases under litigation to ensure that they are concluded as well as prepare regular updates on each case
• Ensure all costs associated with recoveries are minimized including negotiation with service providers on recovery costs
• Ensure prompt settlement of service providers fees after thorough review and approval
• 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
• Do any other duties that may be assigned by the Management

SKILLS, KNOWLEDGE & COMPETENCIES

• 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 organised
• Creative and Innovative
• Proactive and fast decision maker
• Physically fit and versatile and able to work on a computer for long hours
• Knowledge in credit management and banking is an obvious advantage
• Knowledge on Law relating to banking

QUALIFICATIONS & EXPERIENCE

• Business Degree
• Proficiency in computer applications, Credit & Risk Management course (Desirable)
• 3 years’ experience in credit and debt recovery
• Practical experience in Lending and recovery -Speed and accuracy (Desirable)