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.
- 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.
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
NMB Bank Plc is an Equal Opportunity Employer. We are committed to creating a diverse environment and achieving a gender balanced workforce.
Female candidates and people living with disabilities are strongly encouraged to apply for this position.
NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
Job closing date : 17-Aug-2023