Vacancies at Old Mutual Kenya

JOB SUMMARY

Working closely with the Manager Collections, the job holder will ensure that ALL approved and disbursed loans are fully repaid as stipulated in the terms and conditions to prevent loss to the institution due to prompt non-repayment and support branches to minimize risks to the Bank. He/she will have specific emphasis on Collection of 1-30 DPD for all bank loans with the main aim of ensuring minimal provisions and lowest graduation to NPL.

KEY TASKS AND RESPONSIBILITIES ​

KEY MEASURABLE GOALS

Ensure the Portfolio at Risk (PAR) is maintained within the institutional targets.

Ensure high TAT on insurance claims processing.

Adherence to internal credit policies and loan administration procedures regarding collections.

KEY RESPONSIBILITIES

• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery.
• Ensure all loan repayments for all disbursed loans are paid on or before the due dates.
• Ensure review of daily 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.
• 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 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.
• Prepare and maintain an updated register on loan related insurance claims and ensure prompt reimbursement.
• Monitor debt collection response cycles and contacts as well as credit control performance.
• Report and monitor all risks associated with collections.
• Consult with the legal department before entering into counter agreements with defaulting customers.
• 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.
• Generate compliance reports for use in decision making and Performance appraisals.
• Do any other duties that may be assigned by the Management

SKILLS, KNOWLEDGE & COMPETENCIES

• Capacity and willingness to work for long hours and within strict deadlines.
• Excellent interpersonal skills
• High degree of confidentiality 
• Analytical mind
• Knowledgeable on the Financial services sector
• Assertive
• Honest
• Highly organized
• Creative and Innovative
• Proactive and fast decision maker
• Physically fit and versatile and able to work on a computer for long hours.
• Knowledge in credit management and banking is an obvious advantage.
• Knowledge on Law relating to banking

QUALIFICATIONS & EXPERIENCE

• Business Degree
• Proficiency in computer applications, Credit & Risk Management course (Desirable)
• 3 years’ experience in credit and debt recovery.
• Practical experience in Lending and recovery -Speed and accuracy (Desirable)

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JOB SUMMARY

Working closely with the Debt Recovery Manager, the Job holder will ensure focused attention and closely monitor the performance of an assigned portfolio within all business segments of the Bank with a clearly defined strategy for returning the accounts to performing status or exit.

KEY TASKS AND RESPONSIBILITIES

KEY MEASURABLE GOALS

• Ensure the PAR is maintained within the institutional targets.
• Ensure timely recoveries of the NPAs
• Ensure prompt realization of loan securities.
• Ensure high TAT on insurance claims processing.
• Ensure efficiency and high performance of External Service providers
• Ensure the recoveries against write-offs target is achieved

KEY RESPONSIBILITIES

• Ensure compliance with the Bank’s policies and regulatory requirements pertaining collection and debt recovery.
• Execute the institution’s strategy in reducing the NPA portfolio as per laid out guidelines in the institution’s credit policy.
• Management, collection, and recovery of outstanding amounts under assigned portfolio with a view of reducing the non-performing portfolio as per communicated targets.
• Restructuring and curing of accounts within the assigned portfolio to ensure maximum recovery of banks assets hence minimizing on loan loss provisions.
• Negotiating with clients and coming up with suitable exit or rehabilitation strategies for non-performing accounts within assigned portfolio.
• Ensuring that non-performing loans are properly priced to minimize income leakages.
• Highlight and analyze credit failures to identify ways of improving Credit Approval process.
• Effective use of allocated resources to minimize costs.
• Recovery of all loans that get to NPL and ensure that due process is followed in the realization of collateral.
• Monitor loan repayments globally and initiate/recommend course of action.
• Instruct and follow up with External Service providers on NPA matters i.e., debt collectors, auctioneers, tracking companies, valuers etc. 
• Conduct client visits (on a need basis) and telephone calls to follow up on payments from NPA debtors. 
• Ensure the written-off portfolio is tracked and recovered as per the bank’s objectives.
• Report on NPAs (Write offs, Collections, Security Cover etc.) on a regular pre-determined basis and provide information for stakeholder reporting
• Ensure the recovery process is fully implemented as documented and take corrective actions for any exceptions.
• Ensure a record is maintained with track of all the recovery progress for all loans in NPL and there is ease of access to recovery documentation.
• Ensure 100% utilization of the collections system as well as other systems that may be implemented to aid recoveries in the bank
• Ensure 100% closure of all recovery related complaints in the CRM as per SLA.
• Ensure weekly NPL update reports are prepared for all the branches and follow with them to ensure full repayment.
• Ensure demand letters are prepared in a timely manner and the same are well documented as required by law.
• Ensure reports are prepared and recommendations made on bad debts to be written-off to the management for approval. 
• Ensure an up-to-date register on loan related insurance claims is maintained and ensure prompt reimbursement from underwriters.
• Follow up all cases under litigation to ensure that they are concluded as well as prepare regular updates on each case.
• Ensure all costs associated with recoveries are minimized including negotiation with service providers on recovery costs.
• Ensure prompt settlement of service providers fees after thorough review and approval.
• Report and monitor all risks associated with debt recovery
• Generate compliance reports for use in decision making and performance appraisals
• Do any other duties that may be assigned by the Management.

SKILLS, KNOWLEDGE & COMPETENCIES

• Capacity and willingness to work for long hours and within strict deadlines.
• Excellent interpersonal skills
• High degree of confidentiality 
• Analytical mind
• Knowledgeable on the Financial services sector
• Assertive
• Honest
• Highly organised
• Creative and Innovative
• Proactive and fast decision maker
• Physically fit and versatile and able to work on a computer for long hours.
• Knowledge in credit management and banking is an obvious advantage.
• Knowledge on Law relating to banking

QUALIFICATIONS & EXPERIENCE

• Business Degree
• Proficiency in computer applications, Credit & Risk Management course (Desirable)
• 3 years’ experience in credit and debt recovery.
• Practical experience in Lending and recovery -Speed and accuracy (Desirable)