Debt Recovery Officer - Faulu at Old Mutual Kenya

Introduction

Reporting to the Debt Recovery Manager the job holder 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 ensure that ALL approved and disbursed loans are full repaid as stipulated in the terms and conditions,

Minimum Requirements

• 2 years' experience in credit and debt collection
• Knowledge in credit management is an obvious advantage
• Proficiency in T24 skills
• ICT Qualifications; MS Excel , MS Access
• 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 organised
• Creative and Innovative
• Proactive and fast decision maker

Job Specification

• Ensure one day arrears management for all disbursed loans
• Record and maintain a track of all the recovery progress for all loans in arrears
• Prepare weekly arrears reports for all the branches and follow with them to ensure full repayment.
• Prepare demand letters and ensure that they are forwarded to the defaulting customers.
• Prepare debt collection instructions to external service providers to facilitate recover as per the debt recovery guidelines.
• Prepare reports and make recommendations on bad debts to be written-off to the management for approval.
• Processes 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
• Manage resource scheduling and the determination of priority of work and procedures to maximize production output and success levels.
• Report and monitor all risks associated with debt recovery
• 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 debt recovery.
• Do any other duties that may be assigned by the Management.