Debt Recovery Manager at DTB Bank

Job Opportunity: Debt Recovery Manager at DTB Bank

Full Time | December 31, 2023 | Banking Jobs

Job Overview: Debt Recovery Manager at DTB Bank

DTB Tanzania – Diamond Trust Bank (Tanzania) Limited

DTB Bank invites applications for the position of Debt Recovery Manager. The ideal candidate will be responsible for the recovery of bad debts (NPLs and Written-Off Facilities) in compliance with internal policies, regulatory guidelines, and legal framework requirements.

Key Responsibilities:

1. Engage previous account custodians to review account status and recommend optimal recovery strategies.
2. Facilitate and participate in negotiations with defaulters in various sectors, including Corporate, SMEs, Retail, Credit Cards, IPF, and Asset-Based Financing.
3. Monitor debt collectors, auctioneers, and service providers to ensure efficient performance as per agreed Service Level Agreements.
4. Collaborate with the legal department for ongoing litigation cases and provide analysis for recovery strategies.
5. Attend court sessions and manage property disposal through various auctions.
6. Support Receivers & Managers in executing receivership activities.
7. Ensure timely booking and updating of all repayments/collections in the system.
8. Visit and verify the physical existence and condition of collateral.
9. Recommend impairments provision and write-offs.
10. Handle clients’ queries/concerns and maintain good relationships.
11. Prepare and submit debt recovery reports to relevant forums.
12. Participate in the formulation, development, and implementation of Debt Recovery Management Guidelines and Strategies.
13. Set and execute debt recovery targets.
14. Ensure all internal paperwork, filing, and documents are in order.
15. Support Junior Debt Recovery Officers in executing recovery strategies.
16. Collate lessons learned for process improvement.
17. Perform other departmental duties as assigned by the supervisor.

Qualifications and Experience:

• University Degree in Business Administration, Banking, Finance, Accounting, Economics, Law, or equivalent.
• Certification in Loan Work-Out and Debt Recoveries is an added advantage.
• Minimum of 5 years’ experience in loan work-out or debt recovery management.
• Clear understanding of debt recovery processes and credit life cycle.
• In-depth knowledge of the legal framework related to lending.

Personal Attributes:

• Confident and effective communicator (verbal and written).
• Driven, initiative-driven, and motivated.
• Excellent negotiation and persuasion skills.
• Ability to meet deadlines and handle multiple tasks.
• Strong planning and multitasking skills.
• Interpersonal skills and persistence under pressure.
• Good time management and customer service skills.
• Ability to adapt quickly and work effectively in a fast-paced environment.
• Integrity.

Key Performance Indicators:

• Percentage of total collection/recoveries from bad debts managed under Debt Recovery Management Function.
• Cycle time (Annual Performance Review).

Application Procedure:

If interested and meet the requirements, send your application to: recruitment2023@diamondtrust.co.tz by December 11, 2023. Only successful candidates will be contacted. DTB is an equal opportunity employer and does not charge for applications.

Note: Please mention the job title in the subject line of your email.