Collections Manager at Old Mutual Kenya

KEY MEASURABLE GOALS.

• Ensure that 1 day to 30 days PAR for the assigned portfolio of branches is within target.
• Ensure that 1 day to 30 days PAR for all the Credit Product portfolios is within the assigned target.
• Provide reports on historical and projected trends credit collections. 
• Ensure prompt issuance of collateral realization of loan securities.
• Ensure high TAT on insurance claims processing.
• Adherence to internal credit policies and loan administration procedures regarding debt recovery.

KEY RESPONSIBILITIES.

• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery.
• Ensure all loan repayments for all disbursed loans are paid on or before the due dates.
• Ensure review of daily excess reports to detect operationally delinquent accounts (identification and follow-up with Branch Managers on overdrawn accounts without limits) and follow up for prompt regularization.
• Record and maintain a track of all loan follow up progress for all loans in Arrears.
• Manage the entire portfolio (Retail, SME and Community) to ensure subsequent losses are minimized through the effective implementation of collections activities as laid out in the collection’s strategies.
• Specifically, meet the service metrics detailed in the annual job objectives.
• Prepare daily/weekly arrears reports for all the branches and follow up with them to ensure full repayment.
• Ensure all loans are managed within the agreed buckets and all cases contained from getting to non-performing category.
• Work closely with the Branch managers in the management of arrears
• Prepare demand letters and ensure that they are forwarded to the defaulting customers.
• Work closely with the Debt Recovery Unit (DRU) to ensure that all files transition from one bucket to the other with proper documentation to facilitate recovery.
• Prepare reports and make recommendations on any early warning signs on accounts to management.
• Prepare and maintain an updated register on loan related insurance claims and ensure prompt reimbursement.
• Monitor debt collection response cycles and contacts as well as credit control performance.
• Report and monitor all risks associated with collections.
• Consult with the legal department before entering into counter agreements with defaulting customers.
• Reduction in the Non-Performing Loan (NPL) book thus lower loan loss provisions.
• Ensure that all loans are booked with employers and that there are prompt loan repayments from employers for retail loans.
• Generate compliance reports for use in decision making and Performance appraisals.
• Monitor, on a continuous basis, all transactions to ensure that unusual and suspicious transactions are reported to the Money Laundering Reporting Officer (MLRO)
• Implementing and enforcing the board approved AML, KYC & CFT policy in as far as is applicable within retail credit.
• Authorization of transactions done by the collection's officers
• Timely closure of customer issues.
• Self and team development.
• Performance management of self and teams.
• Coaching and mentoring.
• Do any other duties that may be assigned by the Management.

STAFF SUPERVISION RESPONSIBILITIES

Staff Reporting Directly to the Job Holder

• Collections officers

Others Reporting Indirectly

• Branch Credit Officers

Education

• Business Degree

Desirable

• Proficiency in computer applications, Credit & Risk Management course

Experience, Knowledge and Skills

• 5 years’ experience in credit and debt recovery.
• Knowledge in credit management and banking is an obvious advantage.
• Knowledge on Law relating to banking.
• -Practical experience in Lending and recovery
• -Speed and accuracy

Personal Attributes

• Capacity and willingness to work for long hours and within strict deadlines.
• Excellent interpersonal skills
• High degree of confidentiality
• Analytical mind
• Knowledgeable on the Financial services sector
• Assertive
• Honest Highly organized
• Creative and Innovative
• Proactive and fast decision maker

Physical demands

• Physically fit and versatile and able to work on a computer for long hours.

Skills

• Banking, Credit, Credit Control, Credit Management, Credit Risks, Customer Follow-Ups, Debt Collections, Debts Recovery, Decision Making, Facilitation, Financial Products, Lending, Management Reporting, People Management

Education

• Bachelor Of Business