Assistant Manager – Debt Recovery at I&M Bank

PURPOSE:

The role is responsible for

• Overall responsibility for the delivery of recovery strategies to a portfolio of Asset Finance (Hire Purchase) & other loan accounts experiencing financial distress.
• 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 realises 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 &/or regularly under Watch categories with arrears &/or excesses.
• The job entails a balance between safeguarding customer relationship and the need to ensure recovery of outstanding debt with minimal delays.
• Ultimately responsible for all classified Non-performing accounts.
• Acts as a point of contact for the Debt Recovery team in the various Credit, NPA forums to discuss specific problem cases, trends and recommend solutions or strategies that can inform future lending policies.

PRIMARY RESPONSIBILITIES:

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 BCC, NPA & CRMC 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.

PERSON SPECIFICATIONS

Academic Qualifications

• Bachelor of Commerce, Specialization in Accounting

Professional Qualifications

• Diploma in Credit Management.
• CPA (preferred)
• Professional Banking qualifications (e.g. ACIB)

Experience

• 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