Debt Recovery Officer at KUSCCO Ltd

Job Purpose

• To ensure that all approved and disbursed loans are fully repaid as per the agreed terms and conditions to prevent loss to the society due to non-repayment.
• To manage non-performing loans to preserve capital.

Duties and Responsibilities

• Monitoring society’s portfolio at risk and ensuring a performing loan book
• Ensuring timely preparation and release of demand notices to members whose loans are overdue.
• Aggressively follow up on non-performing loans
• Preparation of monthly and quarterly reports on debt recovery
• Managing all the securities registers and monitor the status of available securities.
• Discharging securities where respective members have cleared their loans as per laid down procedures.
• Extracting, confirming and transmitting CRB information to licensed Credit Reference Bureaus.
• Manage storage and sale of repossessed collaterals
• Assigning members’ loan accounts in default to debt collectors.
• Liaise and monitor the execution of the recovery exercise by the third parties involved including auctioneers, lawyers and debt collectors
• Responding to members’ queries and complaints.
• Undertaking field visits for recovery activities
• Champion credit information sharing as may be required
• Follow up legal cases where recovery action is challenged in court
• Monitor and regulate the debt collection costs within the approved limits
• Ensure the recovery exercise fully complies with the statutory regulations and guidelines;
• Perform any other duties as may be assigned from time to time

Minimum Academic and Professional Qualifications

• Minimum of Bachelor’s degree in Finance or Accounting or any business-related field.
• Qualifications in Credit Management/Debt Collection will be a definite advantage
• A member in good standing of a relevant professional body.
• Minimum of 3 years’ experience in debt collection within the financial service industry

Knowledge and Attributes

• 28 Years of age and above.
• Fully conversant with lending in the Kenyan business environment
• Excellent negotiation and communication skills.
• Experience in working with targets and strict deadlines.
• Good planning, analytical and monitoring skills.
• Proficiency in computer applications