Loan Recovery Assistant at Mhasibu Savings and Credit Cooperative Society Limited

Overall purpose of the Job

Responsible for analysing, negotiation and follow up loan of accounts in default/arrears for recovery in line with the credit policy

Duties and responsibilities

• Aggressively follow up on nonperforming loans through telephone calls, emails and text messages
• Management of direct debits by extracting the direct debits from loan forms, processing and submitting to the banks, monthly reconciliation, follow up and reporting performance.
• Management of check off by sending Check off advice and clearance letters to members and employers, Follow up and reporting performance.
• Communicating and issuing default notices as per policy
• Attending to members inquiries on matters relating to their accounts.
• Refunding guarantors amounts deducted from them with respect to defaulted loans in cases where defaulters have made payments.
• Processing invoices from the debt collectors and other service providers in the recovery section.
• Preparing periodical reports on delinquent loans and accounts
• Verification of member information/documents and bank statements whilst assessing loans.
• Enforcing the tier System on the deposit contributions.
• Guarantor Substitution in line with the policy
• Any other lawful duty that may be assigned from time to time.

Minimum academic and professional qualifications required

• A Bachelor’s Degree in Accounting, Finance, Business/Credit Administration, Co-operative Management or equivalent,
• A professional qualification in accounting i.e. CPA K/ACCA/ACA/CFA or Credit administration and a member of a relevant professional body is an added advantage,
• Minimum 2 years relevant work experience,
• Successful candidates will be required to meet the requirements of Chapter 6 of the constitution of Kenya by obtaining the necessary documentation.