Legal Collections Officer at Momentum Credit

Job description

Are you a practising advocate, eager to tap into the operational side of credit and collections from a legal perspective? Momentum Credit needs you!

Momentum Credit provides working capital solutions to small businesses and individuals. The Collection Officer will play a crucial role in performing loss mitigation and recovery activities regarding delinquent or charged-off accounts.

The successful candidate will report to the Portfolio Manager and will not supervise any staff initially. Momentum Credit believes in allowing its team to explore their potential and they fully support each member at each phase of their career progression towards career growth.

Picture of Success

Success shall be evaluated on the progress of attaining the following goals by: Specific dates/timelines and specific targets set out as:

Daily

• Register LBL Chattel/ Security Agreement. This will involve:
• Registering the Security Agreement, prior to disbursement
• Emailing client of notification of Security Agreement registration
• Uploading on Mambu

Register IF Chattel/ Security Agreement. This will involve:

• Registering the Security Agreement, prior to disbursement
• Emailing client of notification of Security Agreement registration
• Uploading on Mambu

Register Guarantees Chattel/ Security Agreement

• Registering the Security Agreement, prior to disbursement
• Emailing client of notification of Security Agreement registration
• Uploading on Mambu

Represent MCL at Legal Hearings

• Attend legal hearings on Momentum’s behalf
• Advice on strategy for litigations
• Update the Portfolio Manager on litigation progress

Affidavits

• Swear Affidavits on Momentum’s behalf

Issue Repossession Letters

• Issue Demand Letter – 14 Days after days in arrears
• Issue Letter of Instructions – 21 Days after days in arrears, as instructed by PM Collection Officer
• Issue Disposition Letter – On the day the vehicle is repossessed

File Litigation Documents

• Keep abreast with all litigation processes
• Liaise with the company layer on all litigation cases

Insurance Cases

Follow up on all Insurance cases pending, within

Ensure Momentum’s entire fleet is insured at all times

Legal Compliance • MCL + Third Party

Weekly

• Report on Logbook Registration and outstanding registrations and escalate any Issues to the Portfolio Manager
• Attend the departmental meetings and make a meaningful contribution
• Train/ update portfolio team on new legal practices and processes

Monthly

• Maintain a PAR under 7%
• Maintain a Collection efficiency of 85%

Minimum Requirements

• Bachelor’s Degree in a relevant field
• An advocate of the High Court of Kenya with a current advocate’s practicing certificate
• Minimum 2 years work experience in a relevant role
• Sound understanding of the regulatory environment with respect to statutory and regulatory authorities
• Excellent knowledge of corporate, regulatory and company law, rules and norms
• Strong time planning and multi-tasking skills, and attention to detail
• Strong strategic thinker with self-determination
• Highly motivated and ambitious individual with unquestionable integrity