Collections and Debt Recovery Officer at

2 months ago

Nairobi, Nairobi Area, Kenya Umba Full time

Umba utilizes advanced methods to optimize risk exposures in emerging markets lacking traditional banking services.

Job Summary:

The role of Collections and Debt Recovery Officer involves efficiently collecting overdue debts while upholding positive customer relationships.

Key responsibilities include:

  • Achieve 100% Collection Targets: Ensure debts are collected meeting or exceeding set targets.
  • Debt Recovery Procedures: Strictly follow company policies and procedures related to debt collection.
  • Debt Prevention: Provide proactive advice to clients to avoid debt collection situations.
  • Vendor and Service Provider Management: Maintain relationships with various service providers involved in the recovery process.
  • Risk Management: Keep the standard portfolio at risk below a specified percentage to mitigate financial risk.
  • Asset Liquidation: Ensure proper asset liquidation according to established procedures.
  • Progress Reporting: Generate daily reports on collection progress and provide updates to management.
  • Car Track Monitoring: Daily monitoring and reporting for car tracking systems.
  • Debt Collection Tracking: Maintain accurate debt collection reports and monitor PAR %.
  • Internal Control Systems: Ensure internal controls are in place to minimize associated risks.
  • Risk Mitigation Recommendations: Identify potential risks and provide mitigation recommendations.
  • Active Listening: Engage in active listening with debtors to understand their situations.
  • Negotiation Skills: Utilize negotiation skills to establish payment plans.
  • Repossession Management: Manage repossessed vehicles efficiently.
  • Asset Sales Promotion: Market and advise on asset sales post-auction for fund recovery.
  • Coordination with Third Parties: Collaborate with external parties for timely execution during the recovery process.
  • Debt Status Maintenance: Maintain accurate records of debt statuses and data submission.
  • Data Security and Confidentiality: Uphold security and confidentiality of information.
  • Ad Hoc Duties: Perform other duties as directed by management.

Education and Qualifications:

A Bachelor's degree in finance, business administration, accounting, economics, or related fields is preferred.

Prior experience in debt collection, credit management, or risk management is desirable, with Banking Experience considered a plus.

Familiarity with financial services industry, ability to analyze financial data, strong communication skills, attention to detail, problem-solving skills, and proficiency in Microsoft Office Suite are required.

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