Debt Recovery Manager at Old Mutual Kenya

Job Description

Working closely with the Credit Administration Manager, He/She will determine what new accounts will be established for new customers by reviewing and researching credit payment history and obtain further information if necessary. Will review and adjust credit lines on a regular basis or when requested for existing accounts and will revoke lines of credit upon receipt of external information pertinent to financial strength of account. Will be enforcing the company’s credit policy. In this role, will be engaged in conducting credit investigations and collecting delinquent accounts and will communicate all credit related issues to senior management.

• Assist in developing sound, acceptable credit policies
• Analyze delinquent accounts and prepare report on highest risk accounts including recommendations for resolution.
• Reconcile transactions and balances to maintain accurate accounts
• Check for credit viability on requests for extended terms, and evaluate various adjustments or exception documents
• Maintain bad debt recovery records
• Monitor receivables and collections and provide updates of receivables and provide appropriate reporting procedures
• Identify problem accounts and provide regular updates of receivables to management
• Negotiate payment programs with delinquent customers
• Identify accounts requiring collection agency or legal action and coordinate collections with third party contractors.
• Monitor violations of credit policies, provide analysis, conclusion and recommendations, present findings to senior management and suggest actions/penalties to be taken when appropriate
• Develop processes and procedures for evaluating customer financials and setting and changing credit lines/limits, as well as credit holds; implement liens as necessary to major delinquent account as approved.
• Generates legal documents used in the credit function.
• Do any other duties and responsibilities as may be assigned by the management.

Education

• Bachelor Commerce: Banking (Required)

Closing Date:10 October 2022