Recovery Manager

1 month ago

Nairobi, Nairobi Area, Kenya INKOMOKO Full time

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 Manager will be responsible for leading and supervising a team of Senior Recovery Officers and will oversee the recovery process for individuals or entities facing financial distress. This role involves developing strategies to recover outstanding debts or mitigate financial losses. You will work closely with a team to analyze cases, negotiate settlements, and implement recovery plans while adhering to legal and regulatory guidelines.Minimum QualificationsThe Recovery Manager will be a trusted partner of Inkomoko clients, and basic qualifications Include:A university degree in Finance, Business Administration or another related fieldMust speak fluent English. Knowledge of other local languages is a plusProven experience in debt collection, recovery, or credit management, with demonstrated leadership and supervisory skillsKnowledge 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 skills.What You'll GetThis role is inside a high-growth, mission-driven social enterprise. By joining, you'll access:Competitive salary, and potential Goal-based bonusIncredible company culture, including deep investment in your learning and growthDiverse colleagues and policies that show our commitment to equity and inclusion Talented, passionate, and committed team colleagues across the regionAbility to make a significant social impact to your communityGenerous health insurance, staff savings, parental leave, sabbatical, and more benefits.

RESPONSIBILITIES

Team Leadership and Supervision (30% time)Lead, motivate, and supervise a team of Senior Recovery Officers to ensure high performance and productivity.Set clear performance expectations and goals for the team and conduct regular performance evaluations and feedback sessionsProvide ongoing coaching, training and development opportunities to enhance the skills and capabilities of team membersOversee the day-to-day operations of the recovery team.Assign cases and prioritize workload to ensure timely action.Monitor progress and provide guidance to team members.Train new team members on recovery procedures, tools, and systems.Offer guidance and support to team members facing challenging cases or complex situations.Foster a collaborative and supportive work environment focused on achieving recovery goals.Collaborate with Legal, Compliance and Conduct Financial Analysis (20% time)Work closely with legal counsel to ensure compliance with laws and regulations governing debt recovery activities.Provide input on legal strategies and assist in preparing legal documentation.Stay updated on relevant legal developments and industry best practices.Review financial statements, credit reports, and other relevant documents to assess debtors' financial health and repayment capacity.Analyze collateral and other assets to determine their potential value in the recovery process.Use financial modeling techniques to forecast recovery outcomes and assess risks.Conduct regular reviews and audits of recovery activities to ensure compliance with laws, regulations, and internal policies.Analyze financial situations to determine the most effective recovery approach.Loan monitoring (30% time)Devise customized recovery plans based on individual circumstances and debt types.Identify potential risks and opportunities for maximizing recovery outcomes.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 meetingsEvaluate 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 Recovery officers, Loan officers, loan managers and compliance officers on Non-performing loansConduct post disbursement spot checks on customers to confirm loan performance and utilizationMonitoring defaulters' repayments to stop recurrent non-complianceMaintain PAR level in compliance with Central Banks regulationsFollow up with Finance department to reconcile payments received and real time transaction postingsDebt recovery (20% time)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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