Collections Officer Business, Premium and Personal segments at I&M Bank

This role is responsible for managing the Bank’s delinquent accounts, through the maintenance of accurate records, provision of customer service and the monitoring of payment plans.

PRIMARY RESPONSIBILITIES:

• Monitor allocated accounts daily and institute timely corrective measures to avoid delinquency.
• Regular contacting of clients in default through calls, emails, and other collections channels to ensure repayments are received.
• Ensure set collections targets and flow rates are met.
• Analyze paid up debts and recommend closure of the accounts especially small balances accounts.
• Develop, implement, and review strategies and methodologies to reduce volume of past due accounts and write offs.
• Highlight any credit failures as first level of contact with these issues to provide lessons learnt to improve the credit approval process.
• Liaise directly with clients, third parties and colleagues in departments to maximize collections performance whilst also ensuring good client outcomes.
• Provide regular Collection trends and achievement reports. Review periodic reports presented to various committees.
• Monitor OD limits and ensuring that expired limits are renewed on time.
• Conduct regular review and feedback to improve the collection system on loan origination system (LOS).
• Liaise and manage of external debt collectors.
• Prepare and send notifications to customers.
• Maintain updated knowledge of all banking policies and procedures.
• Assist with departmental audits and trainings.

PERSON SPECIFICATIONS

• At least 3 years’ relevant experience in Collections.
• Bachelor’s degree in a Business-related field from a recognized Institution.
• General understanding of Banking Act and CBK Prudential guidelines.
• Ability to write complex letters, comprehensive reports and to perform complex calculations.
• Excellent problem solving and decision-making skills.
• Good time management and exceptional customer service.
• Knowledge of high-volume collections, and collection procedures and practices.
• High attention to detail and excellent organizational skills.
• Strong Negotiation skills.