Reporting Structure

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Job Requirements

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Main Duties

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.

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.
• 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.

 

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Other Requirements

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

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Location : Tanzania: Dar es Salaam Dar Es Salaam
Industry :Banking And Financial Services
Company : Exact Manpower Consulting Ltd