Collections and Debt Recovery Officer At Umba – APPLY NOW

• Job TypeFull Time
• QualificationBA/BSc/HND
• Experience
• LocationNairobi
• Job FieldFinance / Accounting / Audit 

Job Summary

• The Collections and Debt Recovery Officer is responsible for efficiently and ethically collecting overdue debts from individuals or businesses while maintaining positive customer relationships. The role involves effective communication, negotiation skills, adherence to company policies and legal requirements, and proactive debt prevention.

Responsibilities

• Achieve 100% Collection Targets: Ensure the collection of outstanding debts from respective branches meets or exceeds the established targets.
• Adherence to Debt Recovery Procedures: Strictly follow company policies and procedures related to debt collection and adhere to the Debt Recovery Cycle to maximize efficiency and compliance.
• Debt Prevention: Provide proactive advice and guidance to clients to minimize the likelihood of them falling into debt collection situations by identifying areas for improvement.
• Vendor and Service Provider Management: Manage relationships and communication with collection agencies, investigators, auctioneers, yards, valuers, and other service providers involved in the recovery process.
• Risk Management: Maintain a standard portfolio at risk (PAR) below a specified percentage for respective branches to mitigate financial risk.
• Asset Liquidation: Ensure the completion of the recovery process, including asset liquidation, is carried out in accordance with established procedures.
• Progress Reporting: Generate daily reports on collection progress, highlighting areas of concern, and provide regular updates to management regarding the status of the portfolio.
• Car track Monitoring: Daily monitoring of all the car track systems installed in the vehicles. Give daily reports on offline trackers, engaging auctioneers in time of repossession by giving coordinates.
• Debt Collection Tracking: Keep track of debt collection reports for various officers, maintaining accurate and up-to-date records. Monitoring the PAR % to align with the company objectives.
• Internal Control Systems: Ensure that internal control systems are in place and rigorously followed to minimize risks associated with all products and documentations.
• Risk Mitigation Recommendations: Identify areas with potential loopholes or risks and make recommendations to mitigate immediate and future risks to the company.
• Active Listening: Engage in active listening when communicating with debtors to understand the reasons for their debt, facilitating the development of suitable solutions.
• Negotiation Skills: Utilize negotiation skills to work with debtors on establishing payment plans or repayment of debts.
• Repossession Management: Keep track of all repossessed vehicles and manage their disposition effectively.
• Asset Sales Promotion: Market and advise on cars ready for sale after the auction process to recover company funds.
• Coordination with Third Parties: Collaborate and liaise with auctioneers and private investigators during the recovery process, ensuring timely execution of instructions.
• Debt Status Maintenance: Maintain accurate and up-to-date records of debt statuses, including car tracking, statements and CRB data submission.
• Data Security and Confidentiality: Uphold the security and confidentiality of both company and customer information.
• Ad Hoc Duties: Perform any other duties as directed by management to support the efficient operation of the collections department.

Education and Qualifications:

•  A Bachelor’s degree in finance, business administration, accounting, economics, or a related field is preferred.
• Prior experience in debt collection, credit management, risk management, or a related field is highly desirable. Banking Experience is a plus.
• Familiarity with the financial services industry, particularly in areas related to collections and asset recovery.
• Ability to analyze financial data, identify trends, and make informed decisions regarding debt collection strategies.
• Strong verbal and written communication skills for effectively interacting with clients, third-party vendors, and internal stakeholders.
• Attention to detail to ensure accuracy in reports, records, and compliance with procedures.
• Effective problem-solving skills to address issues that arise during the debt recovery process.
• Competence in using debt collection software, car tracking systems, and proficiency in Microsoft Office Suite (Excel, Word, Outlook)

Method of Application

Interested and qualified? Go to Umba on umba.applytojob.com to apply.