The Recovery Manager will be responsible for leading and supervising a team of Senior Recovery Officers and will oversee the recovery process for individuals or entities facing financial distress. This role involves developing strategies to recover outstanding debts or mitigate financial losses. You will work closely with a team to analyze cases, negotiate settlements, and implement recovery plans while adhering to legal and regulatory guidelines.
Minimum Qualifications
The Recovery Manager will be a trusted partner of Inkomoko clients, and basic qualifications Include:
- A university degree in Finance, Business Administration or another related field
- Must speak fluent English. Knowledge of other local languages is a plus
- Proven experience in debt collection, recovery, or credit management, with demonstrated leadership and supervisory skills
- Knowledge of MFIs or banking operations, credit risk management, fraud management, Loan Recovery and Debt Management
- Prior experience dealing with customers/debt collection
- Decisive individuals with ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors pay off the entire debt
- Comfort with the civil court system, and previous experience in litigation preferred
- Unrelenting perseverance, personal integrity, and critical thinking skills.
What You'll Get
This role is inside a high-growth, mission-driven social enterprise. By joining, you’ll access:
- Competitive salary, and potential Goal-based bonus
- Incredible company culture, including deep investment in your learning and growth
- Diverse colleagues and policies that show our commitment to equity and inclusion
- Talented, passionate, and committed team colleagues across the region
- Ability to make a significant social impact to your community
- Generous health insurance, staff savings, parental leave, sabbatical, and more benefits.
Team Leadership and Supervision (30% time)
- Lead, motivate, and supervise a team of Senior Recovery Officers to ensure high performance and productivity.
- Set clear performance expectations and goals for the team and conduct regular performance evaluations and feedback sessions
- Provide ongoing coaching, training and development opportunities to enhance the skills and capabilities of team members
- Oversee the day-to-day operations of the recovery team.
- Assign cases and prioritize workload to ensure timely action.
- Monitor progress and provide guidance to team members.
- Train new team members on recovery procedures, tools, and systems.
- Offer guidance and support to team members facing challenging cases or complex situations.
- Foster a collaborative and supportive work environment focused on achieving recovery goals.
Collaborate with Legal, Compliance and Conduct Financial Analysis (20% time)
- Work closely with legal counsel to ensure compliance with laws and regulations governing debt recovery activities.
- Provide input on legal strategies and assist in preparing legal documentation.
- Stay updated on relevant legal developments and industry best practices.
- Review financial statements, credit reports, and other relevant documents to assess debtors' financial health and repayment capacity.
- Analyze collateral and other assets to determine their potential value in the recovery process.
- Use financial modeling techniques to forecast recovery outcomes and assess risks.
- Conduct regular reviews and audits of recovery activities to ensure compliance with laws, regulations, and internal policies.
- Analyze financial situations to determine the most effective recovery approach.
Loan monitoring (30% time)
- Devise customized recovery plans based on individual circumstances and debt types.
- Identify potential risks and opportunities for maximizing recovery outcomes.
- Monitor the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
- Identify and escalate repayment irregularities for further management action
- Preparation of monthly portfolio report for Management decision
- Preparation of weekly portfolio reports for credit review meetings
- Evaluate product performance through collection and data analysis
- Provide weekly report on turnover on loan accounts
- Maintain an effective trigger reporting system of credit impairments and propose corrective actions
- Provides support to Recovery officers, Loan officers, loan managers and compliance officers on Non-performing loans
- Conduct post disbursement spot checks on customers to confirm loan performance and utilization
- Monitoring defaulters' repayments to stop recurrent non-compliance
- Maintain PAR level in compliance with Central Banks regulations
- Follow up with Finance department to reconcile payments received and real time transaction postings
Debt recovery (20% time)
- Monitor allocated portfolio of delinquent loans facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within predetermined broad policy guidelines and regulation to minimize credit losses
- Ensure compliance to Inkomoko’s Credit Policy and Procedures regarding management of debt recovery process
- Maintain and prepare monthly collections reports, updates and status
- Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
- Undertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recovery
- Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
- Ensure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with lawyer
- Develop and continuously review credit and recovery policies and procedures ensuring their compliance
