Full-Time Debt Recovery Manager Jobs
The UAP Old Mutual Group comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisition resulted in Old Mutual Kenya and UAP Holdings (www.uapoldmutual.com) as well as Faulu Microfinance Bank (www.faulukenya.com) forming one of the largest financial services groups with a growing footprint in East and Central Africa. The Group currently has operations in Kenya, Uganda, Tanzania, South Sudan and Rwanda.
We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.
DEBT RECOVERY MANAGER, FAULU- ROLE SIZE N (1 POST)
Working closely with the Head of Credit, he /she will ensure compliance with internal credit policies and procedures, best practices and CBK prudential guidelines to facilitate management of credit risks within tolerable levels. The Job holder will execute the institution’s strategy in reducing the NPA portfolio as per laid out guidelines in the institution’s credit policy. He/ She will ensure that ALL approved and disbursed loans are fully repaid as stipulated in the terms and conditions to prevent loss to the institution due to non-repayment.
Key Measurable Goals
- Ensure the PAR is maintained within the institutional targets.
- Ensure prompt realization of loan securities.
- Ensure high TAT on insurance claims processing.
- Adherence to internal credit policies and loan administration procedures regarding debt recovery.
- Ensure the recoveries against write-offs target is achieved
- Ensure timely recoveries of the NPAs
- Project relevant trends that affect the collectibles of the portfolio and isolate potential problem areas
- 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 etc.
- Extract, confirm and transmit CRB information to licensed Credit Reference Bureau Conduct client visits (on a need basis) and telephone calls to follow up on payments from NPA debtors.
- Report on NPAs (Write offs, Collections, Security Cover etc.) on a regular pre-determined basis and provide information for CBK reporting.
- Ensure one day arrears management for all disbursed loans is fully executed.
- Ensure a record is maintained with track of all the recovery progress for all loans in arrears
- Ensure weekly arrears reports are prepared for all the branches and follow with them to ensure full repayment.
- Ensure demand letters are prepared and ensure that they are forwarded to the defaulting customers.
- 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.
- Monitor debt collection response cycles and contacts as well as credit control performance
- Manage resource scheduling and the determination of priority of work and procedures to maximize production output and success levels.
- 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 my area of responsibility
- Do any other duties that may be assigned by the Management.
Qualifications and experience
- Business Degree.
- 5 years’ experience in credit and debt recovery.
- Knowledge in credit management and banking is an obvious advantage.
Knowledge and Skills
- Proficiency in computer applications
- Credit and Risk Management course
- Practical experience in Lending and recovery
- Speed and accuracy
- 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
- Highly organized
- Creative and Innovative
- Proactive and fast decision maker
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