Recovery Officer
1 month ago
ABOUT THE COMPANY
Inkomoko supports entrepreneurs to grow their businesses in order to improve livelihoods, create jobs, and help communities thrive.
Founded in 2012, Inkomoko has worked with more than 41,000 entrepreneurs across East Africa, including thousands of refugee entrepreneurs. Inkomoko provides a combination of training, consulting, access to finance, and market-level systems change. We are the largest lender to refugee entrepreneurs in Africa.
Inkomoko has +250 staff in 20 offices across Rwanda, Kenya, and Ethiopia, and is expanding in 2023 into South Sudan. Through Inkomoko's 2030 strategic plan, we are adding 4 additional countries to serve more than 550,000 entrepreneurs and growing our $30M loan fund.
JOB SUMMARY
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.Minimum QualificationsThe 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 ManagementPrior experience dealing with customers/debt collectionDecisive individuals with ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors pay off the entire debtComfort with the civil court system, and previous experience in litigation preferredUnrelenting perseverance, personal integrity, and critical thinking skillsMust be able to legally work in Kenya
RESPONSIBILITIES
Loan monitoring (40%)Monitor the credit portfolio and evaluate the risk of potential default while recommending recovery solutionsIdentify and escalate repayment irregularities for further management actionPreparation of monthly portfolio report for Management decisionPreparation of weekly portfolio reports for credit review meetingsCompute weekly PAR report including; product, individuals and SMES PAR analysisEvaluate product performance through collection and data analysisProvide weekly report on turnover on loan accountsMaintain an effective trigger reporting system of credit impairments and propose corrective actionsProvides support to Loan officers, loan managers and compliance officers on Non-performing loansCall, visit and send periodic reminders to loan customers on scheduled repaymentsConduct post disbursement spot checks on customers to confirm loan performance and utilizationMonitoring defaulters' repayments to stop recurrent non-complianceMaintain PAR level in compliance with CBK regulationsFollow up with Finance department to reconcile payments received and real time transaction postingsResponsible for achieving monthly PAR targetNegotiate payment plans with defaultersInitiate receivership process with the lawyerDebt 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 lossesEnsure compliance to Inkomoko's Credit Policy and Procedures regarding management of debt recovery processMaintain and prepare monthly collections reports, updates and statusMaintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring optionsUndertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recoveryInitiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoringEnsure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with lawyerDevelop and continuously review credit and recovery policies and procedures ensuring their compliance.
REQUIRED SKILLS
Reporting, Compliance, Credit handling, Collaboration, Team leadership, Credit auditing
REQUIRED EDUCATION
Bachelor's degree
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