Vacancies at Sidian Bank

JOB PURPOSE

The job holder is responsible in ensuring effective and timely recovery of loans by engaging clients directly, negotiating repayment solutions, and minimizing non-performing loans (NPLs), in line with the Bank’s credit policy and customer service standards. 

KEY RESPONSIBILTIES 

• Collections Strategies
• Customer Experience
• Risk & Compliance

MAIN ACTIVITIES

Collections Strategies:

• To proactively identify delinquent accounts (1 to over 90days) and promptly rectify the default to ensure minimal attrition to Non-performing category for the digital loans products.
• Ensure cure rate (Arrears collections) of 95%(Minimum).
• Ensure roll rate (Attrition) of 5% maximum.
• Ensure that demand letters as per the payment diary are generated and dispatched within 2-days and the respective telephone follow ups made.
• Issue pre-listing notices when the facilities are over 60 days in arrears.
• Track and document early detection of problem accounts and ensure that they are escalated and acted upon as per collections strategy.
• Strictly monitor payment arrangements to ensure compliance and escalate hardcore cases to the next level.
• Promptly attend to customers’ requests and queries either through call backs, email or mailing requested documents.
• Provisions not to exceed set budget through proactive management of overdue facilities.
• Implement Credit monitoring policies. i.e. exercise the enforcement process of recovering debts through constant calling, sending of SMS’s, demand letters & emails, issuance of notices and ensure that no losses are incurred in terms of Credit Monitoring in conjunction with Legal department.

Customer Experience:

• Giving customers information relating to the balances and general account status information to facilitate payments and Provide feedback concerning customer payment behavior to management.
• Prompt calling of customers using the payment diaries produced on a daily basis. Generally, manage and control all matters relating to delinquency.
• Minimizing customer complaints and ensure all customer complaints are closed within the reporting period.
• Giving customer feedback on time. This involves activities like sending client’s statements as per their request and responding to any queries that they may have.
• Encouraging customers to take up more loans and open up business accounts as a means of income generation to the bank.

Risk & Compliance:

• Check for sources of funds on loan repayment and escalate any suspicious or undeclared source to Compliance Unit.
• Responsible for immediately alerting the MLRO on suspicious transactions or activities noted in customers’ accounts. Any inconsistent activities or transactions, any suspicious accounts, any attempted accounts or transactions, must be investigated and reported to the compliance function immediately, placing a clear basis of suspicion.
• Attend training and maintain knowledge of and comply with all bank policies and procedures including Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing laws, rules and regulations.
• Participate or undertake Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing bank programs on a regular basis e.g. taking attestations, self-assessment tests, filling in compliance questionnaires as required
• Comply and not to knowingly participate or assist in any violation of Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing laws, rules, regulations or internal policies, procedure and guidelines.
• Report suspected money laundering cases to their respective heads of units or to the Money Laundering Reporting Officer as soon as such incidents occur immediately with a clear basis of suspicion.

DECISION MAKING AUTHORITY

• Reports to the Manager – Early Collections

ACADEMIC BACKGROUND

• Bachelor’s degree in a Business-related field;

WORK EXPERIENCE

• At least two (2) years’ experience in banking operations, with sound exposure to credit or lending and Credit monitoring.
• Professional Banking qualification (ACIB) or Credit Administration/Credit Monitoring will be an added advantage
• Proven track record of consistently exceeding set targets.
• Versatility, flexibility, passion and commitment to quality service delivery.
• Knowledge in legislation relating to perfection of securities and requirements by regulating bodies.
• Good understanding of SIDIAN Credit risk policy.
• Good understanding of Credit risk policies and procedures
• Good understanding of CBK regulatory framework and pertinent regulations impacting borrowing customers.
• Highly effective communicator with excellent interpersonal and motivational skills.
• Solid performance management and motivational skills.
• Excellent relationship building and stakeholder management skills.
• Strong planning, analytical, decision-making, lateral thinking and project management skills.
• Good understanding of Credit risk policies and procedures

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JOB PURPOSE

The job holder will be responsible for overseeing and managing digital loans (Mobile loans, Taasi – Pochi and Fuliza Products) Portfolio at Risk & NPL accounts (Normal to Loss) to ensure sustenance of a high-quality portfolio across all sectors of the Bank and strategizing for returning the accounts to performing status or and reducing slippages/attrition between buckets and into NPL. In addition to this, the role-holder will undertake any other duty as assigned by the Senior Manager – Remedial Unit.

KEY RESPONSIBILTIES 

• Monitor assigned portfolio to deter further roll over to next buckets ensuring reduction in numbers and in figures.
• To ensure effective and efficient rehabilitation, collections, and recovery of outstanding amounts in the Pre-NPL & NPL. 
• To implement and manage Pre-delinquency, PAR and NPL Strategies.
• Collaborate with business units and product owners in enhancing and giving feedback on the digital loan products.
• Assign accounts to external debt collectors, review daily promises to pay, ensure confirmation of payments are promptly done.
• Ensure invoices from external debt collectors are received, confirmed and processed on time.
• Assessing performance of external service providers to ensure adherence to the bank’s standard agreements such as ensuring professional indemnities for service providers.
• Adherence and adoption of the Pre-NPL watch list and monitoring policies and processes

MAIN ACTIVITIES

Collections & Debt Recoveries Strategies

• Ensure accounts in arrears are contacted, and all discussions and agreement are well documented in E-collect and tracked.
• Guides and mentors’ staff to identify opportunities where distressed debt solutions can be provided to customers and staff alike in order that they can be rehabilitated back to the performing loans portfolio
• Designs the required strategies and formulates effective tactical plans to maximize collections on unwilling customers through instituting legal and collections actions in the most efficient manner to reduce the monthly impairment charges
• Ensures that in-house and outsourced collections strategies are effectively executed in order to achieve agreed collections rates. The outsource strategies must be driven in collaboration with the Vendor manager
• Operates within delegated authority levels and ensures that subordinates have the requisite mandates to perform their daily tasks
• Actions delegated tasks from the Senior Manager Remedial within specified deadlines and reporting requirements
• Ensures consistency in the execution of Bank policy and procedures in order to adhere to all laid down governance requirements regarding actions instituted in the Digital loans portfolio.
• Ensures continuous improvement on set performance benchmarks in order to yield optimal performance levels
• Evaluates and improves on existing practices within collection in order to ensure continued effectiveness and processing efficiencies
• Represents the Bank during Court Cases as the primary witness and liaises directly with Bank’s Legal department
• Signs Legal documentation where required within mandate on all matters handed to legal
• Supports the appointment of vendors within mandate

Customer Service

• Minimizing customer complaints and ensure all customer complaints are closed as per the SLA.
• Giving customers information relating to the balances and general account status information to facilitate payments and provide feedback concerning customer payment behavior to management.
• Prompt calling of customers using the payment diaries produced on a daily basis. Generally, manage and control all matters relating to delinquency.
• Giving customer feedback on time. This involves activities like sending client’s statements as per their request and responding to any queries that they may have.

Risk & Compliance

• Ensure full compliance with the Bank’s Credit Policy, Central Bank of Kenya guidelines and appropriate provisions of the Banking Act.
• Comply with the banks Anti Money Laundering (AML) & Combating the Financing of Terrorism (CFT) policy as defined by CBK prudential guideline
• Ensure that confidentiality and integrity of the Bank’s information is maintained at all times in line with cyber security and information security guidelines
• Ensure responsibility for using personal data by following the data protection principles under the data protection act and make sure the information is used fairly, lawfully and transparently and used for specified, explicit purposes.
• Ensure compliance with all banks policies, procedures and all statutory requirements.
• Ensure proper systems/documentations are in place to effectively manage AML/CFT risks and strict compliance with the Banking laws, the prudential guidelines and regulations issued by CBK, and other legal guidelines that may be issued by the government or other industry stakeholders, from time to time.

DECISION MAKING AUTHORITY

• Recommend to management problematic accounts 
• Identify and recommend key learning lessons on lending decisions from accounts in NPL
• Identify and earmark accounts for write-off

ACADEMIC BACKGROUND

• Bachelor’s degree in a Business-related field;
• Master’s degree is an added advantage.

WORK EXPERIENCE

• Minimum of Three (3) years’ experience debt collection with bias in digital loans collections
• Professional Banking qualification (ACIB) or Credit Administration/Credit Monitoring will be an added advantage
• Proven track record of consistently exceeding set targets
• Versatility, flexibility, passion and commitment to quality service delivery
• Knowledge in legislation relating to perfection of securities and requirements by regulating bodies.
• Good understanding of Credit risk policies and procedures

SKILLS & COMPETENCIES

• Good understanding of CBK regulatory framework and pertinent regulations impacting borrowing customers.
• Highly effective communicator with excellent interpersonal and motivational skills.
• Solid performance management and motivational skills.
• Excellent relationship building and stakeholder management skills.
• Strong planning, analytical, decision-making, lateral thinking and project management skills.
• Good understanding of Credit risk policies and procedures