About the Role
Reporting to the Credit Manager the ideal candidate is responsible for identifying, evaluating and monitoring the non-performing loan accounts and implementing a recovery strategy and executable action plan to achieve timely and maximum recovery at a minimal cost and appropriate turnaround time.
The role holder will be responsible for managing a portfolio of delinquent facilities across the applicable credit and exposure dimensions that Frictionless Enterprises Limited operates [Company, Company Employee & Individual] and within policy guidelines.
The incumbent should understand the context of stakeholder [Company & employee] and individual’s problems, identify and resolve problems with unpaid facilities, credit services and or loans.
Key Responsibilities:
- Submission of all credit reports, including recoveries of all credit facilities including Access to Earned Wage, Salary Advance, Loans and Premium Financing, and facility classification movements.
- Setting strategies in place that reduce and or facilitate the minimization of late and payment default
- Developing contact plans [pre and post payment dates using appropriate tone and technique] for customers either by electronic communication, calling, or visiting them with an aim of negotiating a settlement of the arrears.
- Recording and tracking new commitment to repay the debt (PTPs), determining if the debt can be collected, and accordingly recommending/initiating the recovery process.
- Proactively following up on defaulted loans and undertaking field visits where necessary for recovery.
- Identifying and escalating deceased or disabled clients to the Credit Manager for review or collection termination.
- Achieving the monthly collection targets as assigned by the Credit Manager.
- Maintaining loan ageing analysis schedule, and following up with defaulted clients and organizations on recoverability of the outstanding loan balances.
- Preparing weekly and monthly reports on performance of portfolio at risk.
- Initiating demand and reminder letters to all defaulting employee and documenting the action plans.
- Preparing approval requests to the management for negotiated settlements and follow up until account is fully settled and the balance paid off.
- Liaising with the business development team, account managers, and customer success teams to ensure that arrears are below the agreed threshold.
- Addressing queries from clients in respect to ongoing debt recovery matters being handled by external Advocates on behalf of the Power.
- Preparing defaulters list for onward forwarding to CRB and external debt collectors.
Qualifications/Experience:
- Holders of a business-related degree from a recognized university or an equivalent.
- At least 2-4 years’ work experience in debt collection in banking, microfinance or a financial service related organization.
- Demonstrate a clear understanding of the recovery process with a sound understanding of the credit life cycle and debt recovery techniques.
- Should have sound knowledge of credit risk management.
- Excellent negotiation and communication skills.
- Experience in working with targets and strict deadlines.
- Good planning, analytical and monitoring skills.
- Proficiency in computer applications such as spreadsheets.
- Exhibit excellent customer service standards at all times while handling clients.
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