Recovery Officer

2 weeks ago

Nairobi, Nairobi Area, Kenya Inkomoko Full time

Inkomoko's vision is an Africa with thriving communities where young people and refugees are engaged, communities have access to relevant innovations for self-determination, and where African solutions are unleashed to solve African problems.

About the Opportunity

The Recovery Officer Key responsibility will be to alert, follow up, recover defaulted loans by conducting site visits, coordinating with local authority, manually settling overdue, blocking accounts of overdue clients, and solving the problems with overdue and defaulted clients.

We are hiring for Nairobi, Mombasa, Eldoret & Garissa.
Responsibilities
Loan monitoring (40%)

Monitor the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
Identify and escalate repayment irregularities for further management action
Preparation of monthly portfolio report for Management decision
Preparation of weekly portfolio reports for credit review meetings
Compute weekly PAR report including; product, individuals and SMES PAR analysis
Evaluate product performance through collection and data analysis
Provide weekly report on turnover on loan accounts
Maintain an effective trigger reporting system of credit impairments and propose corrective actions
Provides support to Loan officers, loan managers and compliance officers on Non-performing loans
Call, visit and send periodic reminders to loan customers on scheduled repayments
Conduct post disbursement spot checks on customers to confirm loan performance and utilization
Monitoring defaulters' repayments to stop recurrent non-compliance
Maintain PAR level in compliance with CBK regulations
Follow up with Finance department to reconcile payments received and real time transaction postings
Responsible for achieving monthly PAR target
Negotiate payment plans with defaulters
Initiate receivership process with the lawyer

Debt recovery (60%)

Monitor allocated portfolio of delinquent loans facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within predetermined broad policy guidelines and regulation to minimize credit losses
Ensure compliance to Inkomoko's Credit Policy and Procedures regarding management of debt recovery process
Maintain and prepare monthly collections reports, updates and status
Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
Undertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recovery
Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
Ensure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with lawyer
Develop and continuously review credit and recovery policies and procedures ensuring their compliance.

Minimum Qualifications
The Recovery officer will be a trusted partner of Inkomoko Trustee clients, and basic qualifications Include:

A university degree in Finance, Business Administration or other related field.
Must speak fluent English, and Swahili. Knowledge of other local languages is a plus.
Minimum of 2 years banking of MFIs experience in a credit monitoring /loan recovery role.
Knowledge of MFIs or banking operations, credit risk management, fraud management, Loan Recovery and Debt Management
Prior experience dealing with customers/debt collection
Decisive individuals with ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors pay off the entire debt
Comfort with the civil court system, and previous experience in litigation preferred
Unrelenting perseverance, personal integrity, and critical thinking skills
Must be able to legally work in Kenya

What You'll Get

This role is inside a high-growth, mission-driven social enterprise

By joining, you'll access:
Competitive salary, and potential KPI-based bonus
Incredible company culture, including deep investment in your learning and growth
Diverse colleagues and policies that show our commitment to equity and inclusion
Talented, passionate, and committed team colleagues across the region
Ability to make a significant social impact to your community
Generous health insurance, staff savings, parental leave, sabbatical, and more benefits.

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