Senior Associate, Retail Collections

Qualifications and Work Experience:

• Minimum of three (3) years of continuous experience in debt management, collections, or recoveries role, preferably within a banking or financial services institution.
  
• Bachelor’s degree in finance, Business Administration, Accounting, Economics, or a related field.
  
• Strong understanding of credit policies, debt collection practices, and regulatory compliance within the financial sector.
  

Skills and Competencies:

Personal Skills/Attributes:

• Good business communication (written and verbal) skills.
  
• Should possess strong negotiations and good interpersonal skills and be able to interact with all levels of personnel within and outside the Bank.
  
• Proficiency in the use of computers - MS office, relevant banking software.
  
• Good problem solving and analytical skills.
  
• Good judgment and decision-making skills.
  
• Ability to work independently, with minimal supervision.
  
• Ability to work with large volumes of work.
  

Day to day Collections and recoveries:

• Monitoring allocated accounts daily and instituting timely corrective measures to avoid delinquency.
  
• Contacting clients in default to ensure repayments are received.
  
• Ensure the set collections targets and flow rates are met.
  
• Implementing the set strategies and methodologies to reduce volume of past due accounts and write offs.
  
• Updating the collections systems with All clients’ discussions and following up as per agreement with clients.
  
• Recommending restructures where needed.
  
• Follow up with the collection agencies and process instructions on a timely basis (where applicable).
  

Account monitoring and inputs to process improvements:

• Analyzing settled debts and recommending closure of the accounts.
  
• Highlight any credit failures as first level of contact with these issues to provide lessons learnt to improve the credit approval process.
  
• Maintain MIS related to performance of the accounts and escalates trends for inputs in policy changes and product development.
  
• Reviewing processes within collections and recoveries to identify risk and opportunities to streamline operations, service delivery and minimize losses.
  
• Work with solicitors during the litigation process to ensure optimal collections and recovery with minimal cost to the bank.
  
• Recommending improvements to the collections systems.
  

Others:

• Ensure legal, regulatory and Bank policy and procedure compliance through the collections process.
  
• Other duties assigned from time to time.
  

Decision making and accountabilities:

• Collections and recoveries have a direct impact on bank’s financials.
  
• Recommend accounts for restructuring and write off.
  
• Highlighting areas of weaknesses in policy and processes.
  
• Highlight any credit failures as first level of contact with these issues to provide lessons learnt to improve the credit approval process.
  
• Review processes and recommend improvements.