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Associate Debt Recovery Manager

Closing: Jul 10, 2024

23 days remaining

Published: Jun 11, 2024 (7 days ago)

Job Requirements

Education:

Work experience:

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Job Summary

Contract Type:

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Job Purpose:

The Associate Debt Recovery Manager is a seasoned professional responsible for overseeing and leading a debt recovery team, leveraging more than 5 years of experience, with at least 2 years in a leadership role within a major bank. The role involves managing the end-to-end debt recovery process and implementing strategic initiatives to optimize recovery outcomes.


Responsibilities

Job Purpose:

The Associate Debt Recovery Manager is a seasoned professional responsible for overseeing and leading a debt recovery team, leveraging more than 5 years of experience, with at least 2 years in a leadership role within a major bank. The role involves managing the end-to-end debt recovery process and implementing strategic initiatives to optimize recovery outcomes.


Key Responsibilities:

Team Leadership:

Lead and motivate the debt recovery team, providing guidance and support.

 Foster a collaborative and high-performance team culture.

Debt Recovery Strategy:

 Develop and implement effective debt recovery strategies.

 Strategize on how to better use allocated resources to minimize costs

 Analyze market trends and recommend adjustments to recovery approaches.

 Attending public auctions on behalf of FSI

 Conduct periodic client outreach to follow up on payments

Portfolio Management:

 Oversee the management of a diverse debt portfolio.

 Monitor and analyze portfolio performance against set targets.

 Maintain records tracking the loan recovery process for loans in NPL

 Help clients develop suitable exit strategies for the allocated book.

Negotiations and Settlements:

 Conduct negotiations with debtors to achieve optimal settlements.

 Collaborate with legal teams for escalated cases and settlements.

Risk Management:

 Assess and manage risks associated with the debt recovery process.

 Implement measures to mitigate potential losses.

Performance Reporting:

 Prepare and present regular reports on debt recovery performance.

 Highlight key trends, challenges, and recommendations for improvement.

 Collect and write off profit and loss from assigned accounts.

Compliance:

 Ensure adherence to regulatory requirements in all debt recovery activities.

 Stay informed about changes in legislation affecting debt recovery.

Stakeholder Engagement:

 Collaborate with internal stakeholders, including legal, risk, and finance teams.

 Represent the debt recovery function in cross-functional meetings.


Manage other key internal and external stakeholders like service providers.


Job Specifications:

Academic Qualifications:

 Bachelor’s Degree in Finance, Business, or a related field.

Professional Qualifications:

 Relevant professional certifications in debt recovery or related areas.

Work Experience:

 Over 5 years of experience in debt recovery.

 Minimum of 2 years in a leadership role heading a debt recovery team in a major bank.

Competencies:

 Strong leadership and people management skills.

 In-depth knowledge of debt recovery processes and strategies.

 Excellent negotiation and communication skills.

 Analytical mindset with a focus on data-driven decision-making.

Ability to navigate and adapt to a dynamic and challenging environment.




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