Details
Application deadline 2021-11-15 Business / Employer name FINCA MIcrofinance Bank Company Industry Banking & Finance Job Level Mid-level Work TypeFull TimeMinimum Qualification BachelorYears of Experience 2 years Number of Positions1
Description
Summary
The recovery officer will work closely with the collections and Recovery team at head office and will be reporting to the Head of the collection and recovery at FINCA Microfinance Bank in all matters in connection to portfolio quality from the time of loan origination to its full repayment. He/she is closely working with the branch collection and recovery team, to ensure portfolio quality meets the required standards and with the approved limit of FINCA credit risk appetite.
ESSENTIAL DUTIES include the following. Other duties may be assigned.
Participate in Head Office Arrears Committees which takes place in accordance with FINCA procedure.
Monitor and report on arrangements made with late payers/debtors for outstanding debts to ensure collection agents are properly engaged as per their contract.
Analyse data and prepare reports in all matters in connection to portfolio quality of the bank and write off the collection. He/she will always maintain loans written off records including the pledged securities and plans their full recoveries as early as possible.
Monitor the work and conduct of collection agents to ensure they are working per the signed agreements and any breach thereof should immediately be noticed and reported and appropriate legal action taken against them. He/she shall make sure all collections from successfully conducted auctions are directly deposited into FINCA accounts immediately.
Plans and communicates appropriate recovery action and refer matters to debt collection agents where necessary. Liaise with debt collection agents regarding overdue assets until finalized.
Reconcile outstanding overdue assets and raise associated costs in regard to recovery action.
Recommend overdue assets that require to be written off and also changes and continual improvement to debt recovery procedures to ensure a fair and equitable approach.
Prepare and issue correspondence in relation to debt recovery policy and procedures. Provide advice to late payers to help negotiate a reduction in any amounts owing.
Investigation and allocation of unidentified and lost payments in collaboration with respective branches.
To work closely with legal department and make follow up of all court cases arise from recovery process so as to provide feedback and update to the management.
To keep and safeguard all collateral failed to be sold during recovery auctions where necessary
Perform all other duties assigned to him/her by supervisor
QUALIFICATION AND COMPETENCE
Have a Postgraduate diploma or Degree from a recognized University in any discipline of study
Understanding of legal processes in relation to debt recovery
Understanding of credit policies and procedures.
At least 2 years working experience in collection and recovery
ATTRIBUTES
Flexible attitude to responsibilities and work hours.
Demonstrate a tolerance and understanding of the cultural diversity within the community.
Work in accordance with the principles of equity, access and fairness.
Apply for this job
Please send your CV and application letter
+255 (22) 2212200; +255 (0) 755 980 350 | info@fincatz.org
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