Associate Debt Recovery Manager

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.

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.