Remedial Officer – Head Office at First Community Bank

We wish to fill in the above vacancy in our Head Office, Financing Department. Details of the position are as follows:-

Job Summary

• To ensure that an acceptable PAR is maintained with the acceptable level while supporting the business unit in line with agreed Service Level Agreements (SLAs).

Key responsibilities

• Ensure Non-performing Accounts and overdrawn accounts in my portfolio at Risk ratio (PAR) not exceeding 5% at all times. This is through taking prompt remedial action.
• Coordinate follow- up of accounts with the affected branches and sharia audit at all times to ensure they take action at the right time.
• Initiate reschedule and restructure of Non- performing accounts based on merit ensuring the bank`s interest is taken care of at all times.
• Ensure that handling of Non performing accounts is done in a sharia compliant way at all stages and in compliance with the bank`s Financing policy.
• Ensure that an acceptable level of remedial support is provided to all business units in line with agreed Service Level Agreements (SLAs).
• Timely follow up and recoveries of all the overdrawn accounts to minimize provisioning and lose of income to the bank.
• Liaising with key stakeholders including regional coordinators, branches and the assigned regional debt collectors so as to ensure that NPFs are arrested before they turn to delinquency and ensure that all necessary steps are taken to reduce the PAR in all the branches under the region.
• Timely and accurate preparation and submission of all reports in relation to the NPF`s and OD accounts in relation to the different categories of interest. These include weekly and monthly reports as well reports requested by auditors, CBK inspectors or any other interested parties on the portfolio.
• Escalating cases of un- authorized overdrawn accounts and fraud, and red flags on NPF`s before bank starts to suspend income to the concerned parties and seeking interventions from authorities including risk and compliance.
• Timely resolving of all customer queries that arise on accounts that have been placed under the remedial actions or debt collections and in a professional manner.
• Handling transactions related to the excess reports (ENC`s & other inward cheque accommodations) after the approval from management financing Committee. This will go hand in hand in ensuring that, for all the accommodations done, the accounts will be prepared and submitted to the Assistant manager, Remedial Unit for follow up with the Branch Managers.
• Keeping and updating database in respect of all the OD accounts and NPFs.
• Preparing reports on procedures taken to solve the NPF`s and OD accounts and conducting studies to identify the bank options and alternatives to solve the problems and forward reports in that regard to the
• Remedial/recovery to the assistant manager financing.
• Studying and reviewing all the documents related to defaulted loans, analyzing the financial data, and collect the required information and give a directive on the way forward for this accounts.
• Ensure proper records are kept in the file for all meetings with defaulters to have good audit trail. These files must be kept safe in the store at all times to prevent incidences of losing documents and files.
• Timely follow up and update of files handled by debt collectors as well as legal unit to ensure remedial action is ongoing till the logical conclusion of the case.

Requirements

Qualifications:

• Hold a Bachelors Degree in Business, or finance related field. Masters degree an added advantage. CPA/ACCA professional qualification will be an added advantage
• Have a minimum of 3 years relevant work experience in Financing with proven result oriented track record.
• Knowledge of credit and non performing debts policies and other regulatory requirements e.g. CBK prudential guidelines among others Knowledge of basic law relating to debt recovery
• Knowledge of the latest development in credit risk management tools and software applications and banking products
• Possess good knowledge of securities and legal issues relating to lending
• Minimum 3 years experience in banking industry or a financial institution.
• A proven record of successfully managing a portfolio.
• Ability to work conscientiously and independently with minimal supervision
• 2.2 Competencies & Attributes:
• Interpersonal skills to effectively communicate with and manage expectations of customers and other stake holders.
• Analytical skills, understanding and interpretation of facilities as structured and options available in the process of structuring plans for turning around non-performing loans.
• Knowledge and effective application of all relevant banking policies, processes, procedures and guidance to consistently achieve required compliance standards or benchmarks.
• Planning and organizing skills for effective planning and execution of tasks and deliverables within timeframes and budget.
• Excellent written and oral communication skills for effective relationships with different stakeholders.
• Quality orientation to ensure consistency in adhering and uphold performance standards for Service Level.
• Agreements and quality of documentation.
• Self-empowerment to enable development of open communication, teamwork and trust that are needed to support performance and customer-service oriented culture.
• Have the ability to make prompt decisions and be independent in problem solving in assigned duties
• Honest with impeccable integrity (high ethical standards).
• Computer skills: Must be adept in use of Ms Word, Excel, and Access, power-point, Internet and email