Senior Officer – Recoveries job at DFCU Bank

DFCU Bank is hiring a Senior Officer – Recoveries responsible for proactively managing written-off recoveries for Retail Banking accounts in order to boost the recoveries on the P&L and to ensure full compliance with internal and statutory regulations and guidelines on asset quality to minimize losses to and maximise revenue for the Bank.

Reporting to the Manager Remedial & Recoveries – Retail,

KEY ACCOUNTABILITIES:

• Manage recoveries on the written off accounts under retail Banking.
• Make collection calls and/or conduct field visits.
• Develop repayment plans on customers’ financial situation and advise customers on alternative repayment options.
• Resolve and provide customer service regarding loan related matters. Communicate and follow up effectively with customer queries, disputes etc.
• Process customer instructions within set TAT guidelines.
• Issue repayment reminders and /or demand notices.
• Updating customer files.
• Enlist the support of the Manager- Remedial & Recoveries-Retail to resolve more complicated loan matters and identify root causes of non-payment.
• Prepare and Present cases to ICC that are within the mandate of ICC.
• Refer matters to Legal in a timely manner when turnaround of a payment plan of a written off facility is breached or not possible and ensure foreclosure and/or recovery actions are done in the most cost-effective manner and within set procedures to minimize losses & negative publicity (reputational risk).
• Process release of securities for accounts that have been paid off.
• Support the Collection Support officer in Following up on Insurance claims and related documentation.
• Recommend accounts to be outsourced to our external debt collectors for unsecured loans and litigation depending on the matter.
• Creating awareness to other bank staff on portfolio management.
• Initiate and follow up the foreclosure process within the guidelines of the Foreclosure and manage property acquired as a result of foreclosure.
• Deal with stake holders eg Auctioneers & Bailiffs, External Lawyers and External Debt Collectors.
• Any other duty as advised.

KNOWLEDGE, SKILLS, AND EXPERIENCE REQUIRED:

• Bachelor’s Degree in Economics, Statistics, Commerce, Business Administration or equivalent.
• 4 years’ experience in a Financial Institution with at least 1 – 2 years’ experience in credit approval & structuring, credit administration and debt recovery.
• Credit administration and credit analysis skills are an added advantage.
• Thorough understanding of the Bank’s Credit policies.
• Thorough knowledge of FIA/IFRS guidelines & regulations on asset quality.
• Basic understanding of the legal framework.
• High standards of performance and Control of Quality
• Leadership, management (Initiative, decision making, dispute resolution, good customer service, very good negotiation skills).
• Proficiency in computer packages specifically Word, Excel and PowerPoint.
• Knowledge of Bank governing laws and regulations.
• Relationship management skills.
• Excellent numerical skills.
• Computer skills.
• Negotiation and presentation skills.
• Possess excellent interpersonal, written and oral communication skills.
• Willingness to travel extensively and to work long hours where required to achieve the Bank’s objectives.
• Demonstrated knowledge of banking regulations, policies and procedures relating to Loan Workout processes.
• Knowledge and understanding of the laws, processes, and documentation about foreclosures, legal action, and solvency/bankruptcies, and recovery of delinquent commercial loans.
• Proficient in the use of Microsoft Office applications and utilization of various applications for loan collections & recovery.
• Excellent understanding of the banking act and prudential guidelines.
• Good knowledge of banking products and evolving credit risk management systems.
• Business Management / Knowledge.
• Financial Management.
• Project & Data Management.
• Change Management.
• Accounting / Budgeting skills.
• Risk Management, ability to identify and take corrective steps.
• Credit evaluation skills (restructure debt).

• Manage recoveries on the written off accounts under retail Banking.
• Make collection calls and/or conduct field visits.
• Develop repayment plans on customers’ financial situation and advise customers on alternative repayment options.
• Resolve and provide customer service regarding loan related matters. Communicate and follow up effectively with customer queries, disputes etc.
• Process customer instructions within set TAT guidelines.
• Issue repayment reminders and /or demand notices.
• Updating customer files.
• Enlist the support of the Manager- Remedial & Recoveries-Retail to resolve more complicated loan matters and identify root causes of non-payment.
• Prepare and Present cases to ICC that are within the mandate of ICC.
• Refer matters to Legal in a timely manner when turnaround of a payment plan of a written off facility is breached or not possible and ensure foreclosure and/or recovery actions are done in the most cost-effective manner and within set procedures to minimize losses & negative publicity (reputational risk).
• Process release of securities for accounts that have been paid off.
• Support the Collection Support officer in Following up on Insurance claims and related documentation.
• Recommend accounts to be outsourced to our external debt collectors for unsecured loans and litigation depending on the matter.
• Creating awareness to other bank staff on portfolio management.
• Initiate and follow up the foreclosure process within the guidelines of the Foreclosure and manage property acquired as a result of foreclosure.
• Deal with stake holders eg Auctioneers & Bailiffs, External Lawyers and External Debt Collectors.
• Any other duty as advised.

• Leadership, management (Initiative, decision making, dispute resolution, good customer service, very good negotiation skills).
• Proficiency in computer packages specifically Word, Excel and PowerPoint.
• Knowledge of Bank governing laws and regulations.
• Relationship management skills.
• Excellent numerical skills.
• Computer skills.
• Negotiation and presentation skills.
• Possess excellent interpersonal, written and oral communication skills.
• Willingness to travel extensively and to work long hours where required to achieve the Bank’s objectives.
• Demonstrated knowledge of banking regulations, policies and procedures relating to Loan Workout processes.
• Knowledge and understanding of the laws, processes, and documentation about foreclosures, legal action, and solvency/bankruptcies, and recovery of delinquent commercial loans.
• Proficient in the use of Microsoft Office applications and utilization of various applications for loan collections & recovery.
• Excellent understanding of the banking act and prudential guidelines.
• Good knowledge of banking products and evolving credit risk management systems.
• Business Management / Knowledge.
• Financial Management.
• Project & Data Management.
• Change Management.
• Accounting / Budgeting skills.
• Risk Management, ability to identify and take corrective steps.
• Credit evaluation skills (restructure debt).

• Bachelor’s Degree in Economics, Statistics, Commerce, Business Administration or equivalent.
• Credit administration and credit analysis skills are an added advantage.
• Thorough understanding of the Bank’s Credit policies.
• Thorough knowledge of FIA/IFRS guidelines & regulations on asset quality.
• Basic understanding of the legal framework.
• High standards of performance and Control of Quality