Associate, Debt Recovery at I&M Bank

Purpose

The Debt Recovery Associate maintains a good relationship with the customers and tries to resolve any issues or disputes. The role holder will also be responsible for updating the records of the accounts and following the legal procedures for debt recovery.

Primary Responsibilities

• Monitor, collect and manage problem account portfolio within all customer segments and return the accounts to performing status, reduce slippage into NPL and/or recover entire outstanding accounts as well as fulfil any other duty assigned by the Senior Manager – Debt Recovery all towards contributing to improving the Bank’s credit risk profile and asset quality.
• Demand, and enforce repayment of the assigned problem accounts.
• Collect and writeback to profit and loss from assigned accounts within set targets.
• Monitor arrangements for payments from problem account holders.
• Attending public auctions as Credit Bank’s representative.
• Liaise with Legal Department on recovery litigations and where legal interpretations are required.
• Conduct detailed negotiations with customers, obtain commitment to implement appropriate strategies and actions to cure accounts as well as collect overdue payments.
• Analyze and recommend for approval turnaround/cure propositions, strategies and actions demonstrating well thought out judgement.
• Manage customer relationships where turn around strategies have been activated to ensure cure of accounts as well as manage the Banks credit risk exposure.
• Proactively manage relationships with key stakeholders, internal and external including service providers, potential off takers of assets held as collateral, etc.
• Represent the Bank in lenders meetings for syndicated or problem accounts.
• Prepare and submit required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
• Prepare and submit regular and adhoc problem account reports as required.
• Maintain proper Debt Recovery documentation. Ensure timely issue of relevant notices to customers that form the debt recovery process, ensure that all 90+ days past due files are properly maintained and have up to date file notes and ensure data integrity for all 90+ days past due is maintained.
• Ensure data integrity & quality control of facilities is maintained.

Person Specifications

• 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