Collections Manager at Old Mutual Kenya

JOB SUMMARY

Working closely with the Head of Debt Management, he /she will ensure compliance with internal credit policies and procedures, best practices and CBK prudential guidelines to facilitate management of credit risks within tolerable levels.

The Job holder will execute the institution’s collections strategy of reducing the portfolio at risk for the 1-30 days book as per laid out policies, procedures and guidelines while implementing suitable debt management strategies so as to minimize further impairment with the main aim of ensuring minimal provisions and lowest graduation to Non-Performing Loans (NPLS) category.

KEY MEASURABLE GOALS

• Ensure that 1-30 days PAR for the entire bank is within target. 
• Ensure that 1-30 days PAR for all the Credit Product portfolios is within target.
• Ensure that forward rolls (Spillages) are minimized and maintained within the acceptable limit. 
• Ensure 100% utilization of collection system and recording of all collection activities.  
• Ensure that the collection process is promptly enforced and there is no gap delaying any recovery process.
• Adherence to internal credit  policies and loan administration procedures regarding collection and debt recovery.

 KEY RESPONSIBILITIES

• Ensure early arrears management by enforcing the collections process across the bank. 
• Ensure all loan repayments for all disbursed loans are paid on or before the due dates.
• Ensure review of daily overdrawn and 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.
• Arrange for weekly remedial meetings for high arrears regressing branches for immediate remediation.
• 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 and branch teams 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 for prompt corrective action.
• Prepare and maintain an updated register on loan related insurance claims and ensure prompt reimbursement.
• Report and monitor all risks associated with collections.
• Consult with the legal department before entering into counter agreements with defaulting customers.
• Visiting defaulting customers and counterparties to initiate and enforce repayment.
• 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.
• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery.
• Ensure monthly compliance self-assessment are done, documented and reviewed by management for use in decision making and performance reviews.
• Review and authorization of transactions done by the collection’s officers.
• Timely closure of any complaints relating collections and recovery.
• Development and growth of the collections team as well as ensuring high productivity.
• 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.
• Do any other duties that may be assigned by the Management.

QUALIFICATIONS & EXPERIENCE

• A Bachelor's degree in Business, Finance, Accounting, or a related field. Professional certifications in credit management are a significant advantage.
• A minimum of 5 years of progressive experience in credit management, debt recovery, and/or collections within the banking or financial services industry.
• In-depth knowledge of lending and credit administration processes
• Strong understanding of banking law and the legal framework for debt recovery in Kenya.

SKILLS AND COMPETENCIES

• Demonstrated ability to lead, motivate, and develop a high-performing team.
• Analytical Thinking: Exceptional analytical and problem-solving skills to diagnose portfolio health and identify risk trends.
• Outstanding written and verbal communication skills, with the ability to negotiate effectively and communicate complex information clearly to various audiences.
• Highest level of honesty, integrity, and a strong sense of confidentiality.
• Resilience and Initiative: Capacity to work under pressure, manage long hours, and make proactive, timely decisions.
• A professional approach to engaging with customers while enforcing repayment terms.