Vacancies at Old Mutual Kenya

JOB SUMMARY

Working closely with the Head of Debt Management, he /she will ensure compliance with internal credit policies and procedures, best practices and CBK prudential guidelines to facilitate management of credit risks within tolerable levels.

The Job holder will execute the institution’s collections strategy of reducing the portfolio at risk for the 1-30 days book as per laid out policies, procedures and guidelines while implementing suitable debt management strategies so as to minimize further impairment with the main aim of ensuring minimal provisions and lowest graduation to Non-Performing Loans (NPLS) category.

KEY MEASURABLE GOALS

• Ensure that 1-30 days PAR for the entire bank is within target. 
• Ensure that 1-30 days PAR for all the Credit Product portfolios is within target.
• Ensure that forward rolls (Spillages) are minimized and maintained within the acceptable limit. 
• Ensure 100% utilization of collection system and recording of all collection activities.  
• Ensure that the collection process is promptly enforced and there is no gap delaying any recovery process.
• Adherence to internal credit  policies and loan administration procedures regarding collection and debt recovery.

 KEY RESPONSIBILITIES

• Ensure early arrears management by enforcing the collections process across the bank. 
• Ensure all loan repayments for all disbursed loans are paid on or before the due dates.
• Ensure review of daily overdrawn and excess reports to detect operationally delinquent accounts (identification and follow-up with Branch Managers on overdrawn accounts without limits) and follow up for prompt regularization.
• Record and maintain a track of all loan follow up progress for all loans in arrears.
• Manage the entire portfolio (Retail, SME and Community) to ensure subsequent losses are minimized through the effective implementation of collections activities as laid out in the collection’s strategies. Specifically, meet the service metrics detailed in the annual job objectives.
• Arrange for weekly remedial meetings for high arrears regressing branches for immediate remediation.
• Prepare daily/weekly arrears reports for all the branches and follow up with them to ensure full repayment.
• Ensure all loans are managed within the agreed buckets and all cases contained from getting to non-performing category.
• Work closely with the Branch managers and branch teams in the management of arrears.
• Prepare demand letters and ensure that they are forwarded to the defaulting customers.
• Work closely with the Debt Recovery Unit (DRU) to ensure that all files transition from one bucket to the other with proper documentation to facilitate recovery.
• Prepare reports and make recommendations on any early warning signs on accounts to management for prompt corrective action.
• Prepare and maintain an updated register on loan related insurance claims and ensure prompt reimbursement.
• Report and monitor all risks associated with collections.
• Consult with the legal department before entering into counter agreements with defaulting customers.
• Visiting defaulting customers and counterparties to initiate and enforce repayment.
• Reduction in the Non-Performing Loan (NPL) book thus lower loan loss provisions.
• Ensure that all loans are booked with employers and that there are prompt loan repayments from employers for retail loans.
• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery.
• Ensure monthly compliance self-assessment are done, documented and reviewed by management for use in decision making and performance reviews.
• Review and authorization of transactions done by the collection’s officers.
• Timely closure of any complaints relating collections and recovery.
• Development and growth of the collections team as well as ensuring high productivity.
• Monitor, on a continuous basis, all transactions to ensure that unusual and suspicious transactions are reported to the Money Laundering Reporting Officer (MLRO)
• Implementing and enforcing the board approved AML, KYC & CFT policy in as far as is applicable within retail credit.
• Do any other duties that may be assigned by the Management.

QUALIFICATIONS & EXPERIENCE

• A Bachelor's degree in Business, Finance, Accounting, or a related field. Professional certifications in credit management are a significant advantage.
• A minimum of 5 years of progressive experience in credit management, debt recovery, and/or collections within the banking or financial services industry.
• In-depth knowledge of lending and credit administration processes
• Strong understanding of banking law and the legal framework for debt recovery in Kenya.

SKILLS AND COMPETENCIES

• Demonstrated ability to lead, motivate, and develop a high-performing team.
• Analytical Thinking: Exceptional analytical and problem-solving skills to diagnose portfolio health and identify risk trends.
• Outstanding written and verbal communication skills, with the ability to negotiate effectively and communicate complex information clearly to various audiences.
• Highest level of honesty, integrity, and a strong sense of confidentiality.
• Resilience and Initiative: Capacity to work under pressure, manage long hours, and make proactive, timely decisions.
• A professional approach to engaging with customers while enforcing repayment terms.

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Job Description

Delivery of the budget for both Grow pensions Business Sales through brokers, independent agents, tied agents and direct sales.

KEY TASKS AND RESPONSIBILITIES

• DELIVERY OF BUDGET – Ensure the set budget for pensions is realized for the year.
• MARKET INTELLIGENCE – Obtain market information in respect of Corporate and pensions business and ensure the information is used for product improvement so that our product offering remain relevant and continue to meet customer expectations
• PROPOSALS FOLLOW UP:
  • Ensure proposals are delivered within the agreed timelines.
  • Follow up competitiveness of proposals sent out.
• Driving business and ensuring sustained growth, focusing on achieving/ surpassing sales targets.
• Expanding business reach and proactively creating new sales leads/ opportunities.
• Constantly interacting with prospects and maintaining cordial business relationship with key clients.
• Expanding channel business by sourcing new partners as well as maintaining efficient business relationships with existing partners to enhance growth of business operations.
• Handling high value sales, addressing minor details and identifying areas of improvements in customer service.
• Undertaking business case assessment to enhance channel sale relations, as well as assessing and evaluating new products.
• Managing an efficient sales cycle (sales pipeline) and value based service  cycle through use of deal pipelines to drive the following business goals: -
  • Identify Target customer
  • Meeting to determine needs
  • Client acquisition
• Account Service Plan – client/intermediary visits, policy documentation, credit control, claims management, SLA’s etc.
• Ensure that proper management of accurate, quality and timely business reports.
• Monitor competitor activity and advise the business on opportunities/threats that are presented by such activities.

Risk Management, Internal Governance and Compliance

• Understanding and enforcing company policies and risk control measures in relation to handling of new clients.
• Escalate risks/control breaks to management when identified.  Assist in management of those risk/control breaks
• Compliance to all regulatory requirements and internal policies

Anti-Money Laundering (Aml) Expectation

The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

SKILLS AND COMPETENCIES

• Decision Making,
• Initiating Action,
• Business Development, Key Accounts Management, Contractual Evaluation & Negotiation
• Ability to interact at all levels./stakeholder management
• Setting Strategies/ Sales Target, Clientele Development, Sales Management
• Coordination, Competitor Analysis
• Product Management, Customer Care
• Vendor Management
• Communication & Interpersonal, Leadership, Analytical Thinking Skills

KNOWLEDGE & EXPERIENCE

• Technical Knowledge,
• At least 3 years’ experience

QUALIFICATIONS

• Bachelor degree Marketing, Commerce or Business Administration
• Sales experience
• Pensions and Employee Benefits training and experience will be an added advantage

KEY RESULT AREAS & PERFORMANCE INDICATORS

• Meeting set revenue targets measured periodically
• Timely delivery of proposals and quotations
• The amounts of new revenue placed through targeted distribution channel partners.
• Debtor days for Distribution Channel partners
• Expense controls for Profitability of accounts placed
• The number of suggested new solutions to clients and distribution channel partners
• Timely periodical reports to seniors

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Job Description

The main aim and purpose of the role is to ensure that there is delivery on daily production through taking personal responsibility for work allocated as well as collaborating effectively with other team members. Production should be within service delivery standards set by the standardized operating procedures. This role also responds to administrative queries per the set timelines. This role is responsible for building and maintaining relationships with other departments that its dependent on.

KEY TASKS AND RESPONSIBILITIES

Operational Efficiency

• Manage time, tasks, and outputs to meet predetermined requirements, task cycle times and/or work deadlines.
• Follows standardised operating procedures, provides administrative support, delivers on daily production standards, and adheres to service and quality standards.
• Onboard new customers on administrative data system following laid down guidelines as: KYC, AML & Screening Process (Done at BSO Stage), Sanction screening, PEP due diligence, Customer Risk Rating, Ultimate Beneficial Owners Identification.
• Requirements as per the checklist on new business form
• Independent verification of the National ID card through IPRS

Data Management - Protection and Privacy – Ensure only clean data is introduced into the system and ensure privacy of client data is maintained as aligned to the Data Protection Act of 2019. Ensure alignment and conforming to BU Data Governance Frameworks.

Customer Service

• Communication to customers once account is opened (Email/SMS)
• PIN verification
• Response to general account opening queries

Behavioural skills/competencies

• Ability to flexible, agile and adaptable to change.
• Time management and ability to prioritize.
• Ability to communicate and work well within a team.
• Ethics & Integrity

Risk & Compliance Management, Control Environment, and Internal Governance

• Escalate risks/control breaks to management when identified.  Assist in management of those risk/control breaks.
• Assist in audit management process as required by manager.
• Compliance to all regulatory requirements and internal policies

Financial Management

• Personal input in management of unit’s budget by avoiding wastage of resources and expenses.

 SKILLS AND COMPETENCIES

• Good communication skills (written & oral)
• Positive attitude to work.
• Good assessment, analytical and problem-solving skills
• Ability to interact at all levels. /Stakeholder management
• Financial management & report writing skills.
• Proven planning, co-ordination, and time management skills
• Business Awareness – Financial markets
• Keen - attentive to detail

KNOWLEDGE & EXPERIENCE

• At least 2 years’ relevant experience
• Knowledge of financial service operations and financial markets
• Technical Knowledge – product, process, and KYC/AML compliance requirements knowledge.
• Customer Care

QUALIFICATIONS

• Business related Degree