Loan Recovery Officer at Mhasibu Savings and Credit Cooperative Society Limited

We are a dynamic, well-established Savings and Credit Co-operative Society in the country for all professionals with membership spread globally. We are seeking to recruit highly qualified result- oriented individuals for the positioned a Loan Recovery Officer.

JOB PURPOSE

• Responsible for managing non-performing loans by identifying, monitoring, and implementing collections' action plans to ensure the PAR is within the recommended levels.

SKILLS & COMPETENCEIS

• Assist the Loans Recovery Manager in the formulation and implementation of loans recovery policies and strategies.
• Analyze delinquent accounts and initiate recovery from deposits as stipulated in the credit policy.
• Defaulters' follow-up calls to ensure loans are paid as per the repayment schedules and giving members alternative modes of payment such as restructuring.
• Managing all securities registers through recording new securities, storage and monitoring the status of charged securities.
• Discharging securities where respective members have cleared their loans as per laid down procedures. f) Listing all loan accounts with CRBS with keen interest in defaulters and updating status (delisting) once paid. g) External Debt collection management by confirming monthly payments, updating assigned portfolio balances, responding to queries relating to debt collectors matters.
• Identifying and recommend new accounts to be assigned to external debt collectors after recovery.
• Circulating reminder notices and communication on loan default to members in line with the credit policy.
• Identify accounts in default secured with collaterals and recommend for disposal.
• Attending to members inquiries/concerns on matters relating to recovery and default.
• Ensure timely and accurate reporting on defaulters and loan performance on a monthly basis.
• Verification of membership Withdrawal requests and Risk assessment on account closure.
• Direct debit management.
• Marketing and selling of society products and services and
• Any other lawful duties that may be assigned from time to time.
• Nature of Decision Making
• Operational

KNOWLEDGE, SKILLS AND EXPERIENCE

• Minimum level of academic qualification, skills and knowledge required to perform effectively in the role:
• A Bachelor's Degree in Finance or Accounting or Credit Administration or Co-operative Management or any other related field.
• Successful candidates will be required to meet the requirements of Chapter 6 of the constitution of Kenya by obtaining the necessary documentation.
• Minimum level of professional qualification required to perform effectively in the role:
• Certified Credit Professional (CCP) or CPA-K/ACCA.
• A Member of a relevant professional body is an added advantage.
• Minimum level of personal and professional experience required to perform effectively in the role:
• Credit Management.
• Minimum months or years of experience required to have to be appointed to the position:
• Minimum 3 years relevant experience in credit management.

KEY PERFORMANCE INDICATORS

• Implementation of the Loan recovery policy and procedure.
• Day's sales outstanding.
• Required Loan Provision.
• Collector effective index.
• Portfolio at Risk (PAR of less than 5%).
• Bad debts to sales ratio.
• The percentage of outbound calls resulting in promise to pay. Technical Skills:
• Planning and organizing skills.
• Judgement and decision making.
• Analytical abilities.
• Credit monitoring skills.
• Interpersonal skills.
• Emotional intelligence.
• Accounting and numerical skills.
• Credit risk/security evaluation.
• Portfolio management.
• Empathy.