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Business Related, Debt Related Jobs, Finance Related Jobs,
Assistant Manager – Debt Recovery
The role is responsible for
- Responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realizes the maximum return in the shortest possible time.
- Responsible for a portfolio made up of fast depreciating & highly moveable assets, thus a need to ensure prompt & speedy strategies & actions to recover debt.
- Ensure that the bank does not incur losses in terms of non- performing loans under the bank’s portfolio. This is achieved through constant engagement with bank’s branches and customers whose accounts are already in the NPA category.
- The job entails a balance between safeguarding customer relationship and the need to ensure recovery of outstanding debt with minimal delays.
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Debt Management and control:
- Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding debt settlement and implementation of debt settlement proposals.
- Lead proactive formulation and implementation of strategies on managed exits/recoveries.
- Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the I&M brand.
- Prepare and submit necessary returns to the local regulatory authorities and Head Office on impaired debts
- Ensure that the necessary approvals are obtained as per the delegated approval matrix for strategies and expenditure whenever necessary.
- Prepare and submit required reports to the Board Credit Commitee, Non Performing Accounts & Credit Risk Management Committees in a timely manner and working on provisions.
- Ensure data integrity & quality control of facilities is maintained.
- Prepare summons instructions to external lawyers, valuers, auctioneers and other professionals to manage recovery of debts through the courts & professionals, including disposals of debtors’ assets.
- Manage relationships with external service providers such as receivers, liquidators, reppossesors, valuers, auctioneers, lawyers, debt collectors, etc who provide services in relation to Debt Recovery.
Risk & Control Objectives
- Process the recovery of debts whilst ensuring compliance with local legal, regulatory requirements and the bank’s internal procedures.
- Ensure satisfactory Internal or External Audit Reports
- Ensure satisfactory Conformance assessments
- Ensure Impairment Management and MI Reporting is produced accurately and on time.
- Bachelor of Commerce, Specialization in Accounting
- Diploma in Credit Management.
- Professional Banking qualifications (e.g. ACIB)
- Experience in both corporate relationship management and credit risk analysis
- Experience in dealing with senior management of corporate entities
- Good knowledge of the local legal system, insolvency law and security issues, and the options available to the Bank.
Skills and Attributes
- Good credit risk skills
- Effective communicator.
- Excellent negotiation and influencing skills
- Good relationship management skills
- Strong commercial awareness
- Good interpretation and decision making ability
- Strong analytical and numerical skills
- Strong communication and report writing skills
- Good knowledge of Microsoft Excel and other spreadsheet/database applications
- Strong planning, coordination and time management skills
Closing: 16th September 2022.
Senior Manager – Debt Recovery
The Job holder will be responsible for reviewing the Bank’s non-performing and distressed assets for all segments and developing appropriate strategies to ensure timely remediation and recovery of amounts due hence minimizing losses to the bank. The individual will lead a sizeable team, engage with management and Board in delivering key results with minimal supervision.
The Incumbent will report to the Head of Debt Recovery and will be responsible for:
- Developing and guiding Debt Recovery and Remedial unit in reviewing all non-performing facilities and developing appropriate strategies to ensure efficient and cost-effective recoveries.
- Recommending and implementing debt restructures/renegotiations where appropriate to return bad debts to performing book by having suitable conversations/meetings with customers.
- Working with Business units and Credit Managers to promptly remediate any weaknesses identified on the portfolio to reduce events of default.
- Providing appropriate inputs to Board and Management Committees to ensure identified gaps in the lending process are addressed.
- Working with legal team to drive appropriate legal recoveries options and ensuring the due procedures are adhered in order to avoid potential litigation risk or adverse publicity.
- Planning and closely coordinating the Debt Recovery process with various stakeholders, including Lawyers, evaluators and auctioneers amongst others. For cases in court, ensuring the relevant evidence in support of the Bank’s case is properly documented and representing the Bank as a witness as and when required.
- Providing periodic reports to Management and Board Committee’s on the Recovery Status of non-performing portfolio, with clear recommendations on the way forward or closure.
- Liaising with the different stakeholders to ensure provisions held are in compliance with the Prudential Guidelines and IFRS9 requirements.
- Providing input in loan product development and portfolio quality through regular feedback on learning points to avoid underwriting bad credits.
- Periodic training of staff on matters relating to non-performing assets.
- Keeping abreast with and proactively acting on market developments that may adversely impact on the banks success to recover loans.
- Responsible for overseeing all activities within a team.
- Responsible for keeping track of and structuring various tasks, employees and documents.
Qualifications and Competencies:
- Bachelor’s degree in any business-related field.
- Professional qualifications/certifications in CPA/AKIB/Loan Management etc will be an added advantage.
- Masters in a business-related field such as Strategic Management, Economics, Finance, and Operations etc.
- At least 4 years’ experience at managerial level, with board reporting responsibilities.
- Thorough understanding and practice of CBK guidelines and IFRS9 requirements.
- Experience in handling complex corporate recovery cases including receiverships, arbitrations and re- negotiations.
- Legal background will be added advantage.
Closing: 16th September 2022.
Officer – Debt Recovery
- Monitoring , collecting and managing problem account portfolio within all customer segments and returning the accounts to performing status, reducing slippage into NPL and/or recover entire outstanding accounts as well as fulfilling any other duty assigned by the Senior Manager – Debt Recovery all towards contributing to improving the Bank’s credit risk profile and asset quality.
- Demanding and enforcing repayment of the assigned problem accounts.
- Collecting and writing back to profit and loss from assigned accounts within set targets
- Monitoring arrangements for payments from problem account holders.
- Attending public auctions as Credit Bank’s representative.
- Liaising with Legal Department on recovery litigations and where legal interpretations are required.
- Conducting detailed negotiations with customers, obtaining commitment to implement appropriate strategies and actions to cure accounts as well as collect overdue payments.
- Analyzing and recommending for approval turnaround/cure propositions, strategies and actions demonstrating well thought out judgement.
- Managing customer relationships where turn around strategies have been activated to ensure cure of accounts as well as managing the Banks credit risk exposure.
- Proactively managing relationships with key stakeholders, internal and external including service providers, potential off takers of assets held as collateral, etc.
- Representing the Bank in lenders meetings for syndicated or problem accounts.
- Preparing and submitting required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
- Preparing and submitting regular and adhoc problem account reports as required.
- Maintaining proper Debt Recovery documentation. Ensuring timely issue of relevant notices to customers that form the debt recovery process, ensuring that all 90+ days past due files are properly maintained and have up to date file notes and ensuring data integrity for all 90+ days past due is maintained.
- Ensuring data integrity & quality control of facilities is maintained.
Risk & Control Objectives
- Processing the recovery of debts whilst ensuring compliance with local legal, regulatory requirements and the bank’s internal procedures.
- Ensuring satisfactory Internal or External Audit Reports
- Ensuring Impairment Management and MI Reporting is produced accurately.
- Bachelor’s Degree in Commerce, Finance, Economics, Mathematics, or other quantitative or science degree in related fields;
- Proven track record of consistently meeting set targets.
- Agility, versatility, passion, and commitment to quality service delivery.
- Knowledge in legislation relating to lending and lending portfolio management.
- Have at least 2 years’ experience in a credit recoveries role.
- Excellent knowledge of data analysis and Microsoft Excel Skills will be an added advantage.
Closing: 17th September 2022.