Job Advert: Corporate Debt Recovery Manager
Job Summary: The Job holder will be, responsible for reviewing the Bank’s non-performing and distressed assets, and developing appropriate strategies to ensure timely remediation and recovery of amounts due hence minimizing losses to the bank.
The Incumbent will report to the Head of Credit and will be responsible for:
- Establish a robust debt recovery systems which should be geared towards reducing NPL ratio
- Formulate recovery strategies for non-performing loans
- Ensure that provisions are maintained at the prescribed levels
- Ensure completion of appropriate and timely collection actions by the debt collections team in line with collection objectives
- Drive the reduction of non-performing loans through debt recovery, upgrading and restructures
- Demand and follow up of Non Performing debts through review of files and discussions with debtors regarding their repayment proposals
- Support all branches in minimizing incidences of loan default
- Correspond with service providers e.g. Auctioneers, debtor collectors, auctioneers, Valuers, investigators and lawyers and track their performance
- Raise red flags on performance trends and forecasts of certain facilities, or industry sector and initiating pro-active strategies and recommendations of credit policy changes
- Exercise delegated discretion relating to management of NPA loans
- Manage cost through vetting service providers fees, as well as optimal utilization of resources under their control
- Oversee that the collections book is managed within various parameters and ensuring that debt recoveries procedures are followed in compliance with the statutory requirements, Banking Act and CBK prudential guidelines
- Recommend write down/off, upgrading and downgrading of facilities as per Bank’s policy.
- Recommend stoppage on interest accrual on non-performing accounts as per Bank’s Policy
- Management of debt recovery Unit’s leave plans to ensure that they are consumed within the year and in case of emergency, leave approval is given and immediately reported to the Head of
- Credit Risk and HR and relevant support documents are sought from the staff and submitted to HR for records within stipulated time.
- Mentor, motivate and coach monitoring and debt recovery team
- Ensuring recoveries procedures are followed in compliance with the statutory requirements, Banking Act and CBK prudential guidelines
- Ensure effective utilization of collections systems to ensure high efficiency effectiveness and service level standards are achieved by team.
- Identify risks in the debt collections environment and drive for effective measures to mitigate the risks.
- Ensure daily and monthly reports are actioned by team within SLA.
- Ensure the department achieves a minimum rating of satisfactory in any audit
- Bachelor degree in business or Finance
- 5 years experience in corporate lending / recoveries
- Knowledge of CBK’s prudential guidelines on lending and provisioning
- Knowledge of land laws and debt recovery
- Experience in leading a team
- Professional qualifications in accounting and banking an added advantage
- Advanced communication skills
- Investigation and probing skills
- Broad knowledge of industry and operations
How to apply
If you are up to the challenge & fit the required profile, please apply highlighting your qualification, experience and career aspirations match the requirement for this position.
Application should be sent latest 10th May 2019 clearly indicating the position you are applying for on the Subject to: