Head of Collection - Retail Client Job at Standard Chartered Bank

JOB PURPOSE

• Management and administration function, responsible and accountable for Collections and Recoveries for Retail Clients in Kenya
• Ensure compliance to Group Credit Policy and process standards
• Manage delinquency and recoveries within budgeted and forecasted  levels
• Manage and control all aspects of Credit Risk within Credit Dept including credit loss minimization and collection & recoveries maximization
• Formulate and implement Collections and Recoveries strategies and action plans
• Capacity tracking, management and planning to ensure adequate collection resources for the unit at all times for the delivery of business objectives
• To manage and control all matters relating to delinquent Retail Clients accounts by constantly reviewing collection procedures and ensuring early recovery actions are taken to maximise prospects of full recovery
• Highlight and analyze credit failures to identify ways of improving the Credit Approval process
• Robust control environment within the collections and recoveries function

Key Roles and Responsibilities

GENERAL MANAGEMENT

• Establishment and implementation of the Collection strategy
• Manage the day -to-day operations of collections activities by effective implementation of collections strategies
• Manage and control all aspects of Credit Risk within Credit Dept including credit loss minimization and Collection & recoveries maximisation
• Monitor performance of Collections team against targets and by matching activities to daily action reports and delinquent account reports
• Manage, motivate and train staff to ensure team’s performance is optimised
• Monitor individual and team performance to ensure team's collection targets are achieved
• Effective management of collection operations to meet the net credit loss as well as the credit cost goals of the business
• Setting right collection strategies to optimize collection results
• Pre charge off of unsecured/secured products, manage flow rates to prevent accounts from charging off
• Post charge off collection to maximize net recovery
• Customer segmentation and prioritization strategies at front end
• Accounts  Provision and charge off in line with the Group Credit Policy
• Responsible for agency strategies and debt sales strategies
• Maintenance of the capacity plan on a timely basis and validation of the assumptions
• Review operational processes within collections to identify opportunities to streamline operations, improve service and minimise losses to Credit Centre
• Manage solicitors throughout the litigation process to ensure appropriate service is provided to Collections team, and that Recoveries are optimized with minimal legal costs to the Bank
• Interpret MIS statistical information relating to performance of Collections e.g. delinquency ratios, flow rates, volume of recoveries made etc
• Post charge off collection to maximize net recovery
• Customer segmentation and prioritization strategies at front end
• Accounts  Provision and charge off in line with the Group Credit Policy
• Responsible for agency strategies and debt sales strategies
• Maintenance of the capacity plan on a timely basis and validation of the assumptions
• Review operational processes within collections to identify opportunities to streamline operations, improve service and minimise losses to Credit Centre
• Manage solicitors throughout the litigation process to ensure appropriate service is provided to Collections team, and that Recoveries are optimized with minimal legal costs to the Bank
• Interpret MIS statistical information relating to performance of Collections e.g. delinquency ratios, flow rates, volume of recoveries made etc                                                               
• Maintain performance record of Credit Reference Bureau and advice management on the performance
• Manage the relationship with repossession and debt collection companies
• Manage the relationship with external debt collection agencies  CONTROL RESPONSIBILITIES
• Assist the Country Credit Head to review potential delinquency areas for all Asset Products, identify potential risks and design and implement improvement plans
• Ensure that the Unit’s service level standards are met and that third party service level agreements are adhered to
• Ensure reconciliation of the Recoveries account is maintained on a timely and correct basis under maker- checker controls
• Ensure monthly reconciliation of Provision and Interest in Suspense accounts and timely submission of declarations to Finance
• Provide feedback concerning changes in customer payment behaviour to other parts of the credit group/team and to Product or Business Manager so that appropriate changes can be made to policies and procedures and business strategy
• Highlight and analyze credit failures to identify ways of improving the credit approval process
• Ensure credit checks are conducted on customers with delinquent accounts in order to assess collection prospects AUDIT REVIEW, DELEGATION & APPROVAL
• Ensure that the department service level standards are met & that third party service level agreement is adhered to
• Produce relevant MIS for the Country Credit Head and senior Management
• Write-off/charge-off uncollectible debts within delegated authorities
• Maintain goodwill
• Ensure CST exceptions are within Group set thresholds via timely execution of controls by the collections and recoveries team FINANCIAL
• Undertake primary responsibility for early warning advice to Senior Management of previous unforeseen or unbudgeted evolving portfolio risk
• Prepare and manage collection capacity forecasts & plan
• Timely and correct preparation of LI forecasts in conjunction with Portfolio Monitoring and Reporting team. LEGAL, REGULATORY, ECONOMIC AND COMPLIANCE

Qualifications and Skills

• Graduate + minimum 4 year experience in Credit preferably Debt recovery or COSC + 6 years all round Banking & Debt recovery experience.
• Quality focused proactive leader able to effectively communicate ideas to colleagues at all levels
• Knowledge of business processing, management information systems & company technology
• Full knowledge of core products, markets and main competitors
• Computer literacy
• Logical with accurate eye for detail
• Proactive, flexible and resilient team player
• Practical working knowledge of company, industry & banking guidelines & regulations
• Highly customer focused with high level of interpersonal and communication skills – listening, negotiating & training
• Ability to plan, co-ordinate, motivate & build teams
• Project management skills