Debt Recovery Officer at Middle East Bank Kenya Ltd

JOB PURPOSE STATEMENT / POSITION OBJECTIVE

The Debt Recovery Officer is responsible for managing a designated portfolio of delinquent credit facilities (post-90 days past due). The objective is to develop and implement effective strategies, within the bank's policy guidelines and regulatory framework, to minimize credit losses and ensure the profitability of the asset portfolio in alignment with the bank's business goals.

KEY RESPONSIBILITIES
Analyzing Facilities' Performance:

• Monitor and analyze the performance of credit facilities.
• Identify facilities requiring restructuring.
• Prepare and present approval memos for the restructuring of facilities.

Vendor Management:

• Manage relationships with valuers, investigators, auctioneers, and other vendors in the debt recovery space.
• Ensure vendors adhere to agreed-upon standards and timelines.

Customer Negotiations:

• Meet with customers to discuss and negotiate repayment plans.
• Develop and implement tailored repayment solutions to meet both customer needs and bank objectives.

Third-Party Follow-Up:

• Follow up with garnishees, employers, and other third parties who may owe funds to the bank's customers.
• Ensure payments assigned to the bank are collected promptly.

NPL Ratio Management:

• Monitor and manage the Non-Performing Loan (NPL) ratio.
• Ensure the NPL ratio remains within the approved annual targets.

Portfolio Monitoring:

• Daily monitoring of an allocated portfolio of delinquent term loans and facilities (post-90DPD) to determine reasons for delinquency.
• Apply sound credit judgment and collections strategy within predetermined policy guidelines to minimize credit losses.

Collections Follow-Up:

• Utilize existing collections reports and systems to follow up with clients within the portfolio to recover arrears.
• Undertake timely collections actions through effective communication and negotiation with customers.

Escalation of Collections Exceptions:

• Quickly identify and escalate collections exceptions that require approval or alternative recovery actions to the reporting line.

Liaison with Business Units:

• Work closely with business network units within the bank to implement appropriate measures on the collection’s portfolio.
• Offer alternative solutions for customers as necessary.

Diary Management:

• Maintain an accurate diary of collections actions undertaken on the portfolio including meetings, legal notices & court dates.
• Ensure timely follow-up of due actions.

Customer Service:

• Respond to customer complaints and queries.
• Escalate unresolved cases for Management review and advice.

Reporting and Documentation:

• Prepare regular reports (as required from time to time) on collections activities and portfolio performance.
• Maintain accurate and up-to-date records of all interactions and agreements with customers.

Compliance and Regulation:

• Ensure all collections activities comply with internal policies and external regulations.
• Stay updated on changes in collections laws and regulations to ensure compliance.

Additional Duties:

• Perform any other duties assigned by the immediate supervisor as required.

KEY PERFORMANCE METRICS

• NPL Ratio Management
• Rate/Value of recoveries made per annum
• Value of right backs made per annual
• Number of facilities successfully restructured.
• Vendor Management and TAT

CANDIDATE SPECIFICATIONS EXPERIENCE

• At least 5 years’ experience in a debt recovery/collections function preferably in a commercial bank.
• University degree in a Business-related field from a recognized institution. A degree in Law will be an added advantage.
• Certifications in Credit Analysis/Risk, Debt Recovery

COMPETENCIES AND ATTRIBUTES

• Communication skills (written and verbal)
• Great Inter-personal skills
• Strong Negotiation and Influencing skills
• Analytical and numerical skills
• Spreadsheets/Database/Excel Skills e.g. pivot tables, VLOOKUP, HLOOKUP, Power query, etc.
• Planning and personal organization
• Problem solving skills
• Credit Report Writing
• Service excellence
• Operational excellence
• Customer handing techniques
• Financial analysis & risk assessment