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Officer, Consumer Collections

Closing: Nov 6, 2022

This position has expired

Published: Oct 31, 2022 (29 days ago)

Job Requirements

Education:

Work experience:

Language skills:

Job Summary

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Ensure focused attention on and closely monitor the performance of an assigned portfolio of past due as well as non-performing loans. A clearly defined strategy for returning the accounts to performing status or exit must be documented and approved in each case.
Academic:

  • University degree Upper 2nd Class Honors or 3.0 GPA

  • Professional:

  • Computer literate
  • Relevant professional qualification in Banking, Risk Management and Law an added advantage.
  • Desired work experience:

    • At least 2 years work experience in a bank or financial services institution of which 1 year should have been in Remedial Management (Debt Collections and/or Recoveries).


    Responsibilities
    Ensure focused attention on and closely monitor the performance of an assigned portfolio of past due as well as non-performing loans. A clearly defined strategy for returning the accounts to performing status or exit must be documented and approved in each case.
    Academic:

    • University degree Upper 2nd Class Honors or 3.0 GPA

  • Professional:

  • Computer literate
  • Relevant professional qualification in Banking, Risk Management and Law an added advantage.
  • Desired work experience:

    • At least 2 years work experience in a bank or financial services institution of which 1 year should have been in Remedial Management (Debt Collections and/or Recoveries).


    Financial 60%
    • Daily follow up and handling of all past due accounts under assigned portfolio

  • Collection of past due amounts from funded accounts.

  • Telephonic Collections: calling customers and obtaining PTPs, calling third parties e.g insurance brokers, underwriters to follow up on premium refunds.

  • Analysis of accounts in past due, raising red flags and recommending to the Bank through the supervisor, exit or rehabilitation strategies, and in case of discount/waiver request, can recommend discount or waiver not exceeding 10% of the total exposure of an account.

  • Management, collection and recovery of outstanding amounts under assigned portfolio of past due accounts with a view of minimizing impairment charges from bad loans.
  • Monitoring the repayment plans: diarizing and following up
  • Recommending delinquent accounts to be placed on lock-up (classified/downgraded) and those to be exempted.
  • Liaising with and co-opting the assistance of all
  • Negotiating with clients and coming up with suitable exit strategies for delinquent accounts within assigned portfolio.
  • Business Units as may be necessary to arrange recovery of arrears accounts.
  • Taking appropriate actions as per the applicable process flow
  • Foreclosure (security realization) processing as appropriate
  • Working Liaising with independent collection agents for collection reports and invoicing payments

  • Any other duty as may be assigned by the supervisor
  • Collation and submission of quality data/reports in a timely manner or as may be required from time to time.


  • Internal business processes 10%
    • Meeting regulatory compliance requirements and consistency in adherence to and effective application of established policies, processes, procedures and tools in achieving optimal efficiency and cost effectiveness.

  • Optimal utilization of available technology e.g T24,OMNI-IBPS,CHEQUE-POINT ,collection system etc.
  • Audit ratings - Satisfactory

  • CBK Inspection ratings - Satisfactory

  • ORSA (Own Risk and Solvency Assessment)ratings
  • Customer 20%

    • Ensuring effective customer communication through calls, emails, issuance of demand letters and notices etc.

  • Quality of credit service standards and maintenance of TAT as per policy.
  • Clear Communication and excellent relationship management in handling assigned portfolio of delinquent accounts.
  • Learning and growth 10%

    • Self-development

    Performance Management


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