The Head of Collections and Recoveries is responsible for leading the Collections & Recoveries team in the recovery of all debt owed to the bank. The role-holder will use a holistic approach to ensure that support is provided where possible, including court action where appropriate, so as to achieve departmental targets and objectives – focusing on minimizing the roll rate of potential non-performing loans.
Responsibilities/ Key deliverables:
• Review and update the Bank’s collections and recoveries policies and procedures as applicable to meet regulatory and risk environment changes and Bank’s risk appetite in liaison with other stakeholders.
• Participation in the formulation, amendment, and implementation of collections and recoveries policy procedures.
• Responsible for maintaining the asset quality of the designated portfolio through interim reviews, annual reviews and an ongoing monitoring and control and escalation of issues as may be necessary through proactively managing the bank’s loans and advances’ portfolio to ensure optimal performance of facilities and minimize loss to the bank.
• Proactively manage recoveries through provision of financial guidance and support in the first instance; and through more assertive debt collection and legal action as a last resort.
• Collaborate with the business team to ensure that customers are experiencing the promised value propositions for Loan Products; in particular, ensure that credit facilities are authorized within approved limits and within the set turnaround time
• Oversee the establishment, resourcing, and ongoing operation of a central documentation and securities verification unit; ensuring that all risk management and compliance requirements are fully met.
• Oversee the Document Perfection process, ensuring that offer letters and legal agreements are drafted in-line with standard templates, further perfected by the external lawyers &/or the bank’s legal team as appropriate, and duly executed.
• Oversee the secure storage, registry, and eventual return to the client of all documents and assets retained by the bank as securities.
• Oversee the disbursement of approved loans, ensuring that the amount approved is indeed disbursed, in compliance with financial procures and service level agreements.
• Develop a strong culture of risk and compliance management; take responsibility for the implementation of risk-management controls and for statutory compliance within the Control & Disbursement Department.
• Contribute proactively to the development of effective and efficient payment and collections systems to minimize the occurrence of arrears; implement best practices for fast treatment of distressed loans.
• Support the development of strategies, systems, tools & capacity-building to support front-line staff in the avoidance of arrears and early-stage good practice in recovery.
Requirements
Education and Training:
• A University degree in the areas of Economics, Finance, Accounting, Commerce or Business Administration or a related field.
• Post Graduate Diploma in Banking will be an added advantage.
• Credit Certification
Skills and Experience:
• At least 8 years of which 3 have been in a Senior Management role in Credit sanctioning, credit analysis, business or Risk management functions in a financial institution
• Strong understanding of lending and legal risk management; proven track record of spotting errors or omissions in legal documents and leading a team to deliver high standard
• In-depth knowledge of the principles governing Banking.
• Sound understanding of all bank products and their operation
• Keen understanding of the current trends in terms of digitizing and innovating in the Credit field.
• Credit and Financial analysis skills and high degree of attention to detail
• Self driven and ability to work under minimum supervision.
• Proven knowledge of the retail and corporate market, and commercial banking practices
• Awareness of business issues and current economic events.
• Thorough understanding of internal Credit policies.
• Thorough knowledge of FIA/IFRS guidelines & regulations on asset quality.
• Good knowledge of the local legal system/framework, corporate finance, insolvency law and security issues.
• Possess excellent interpersonal, written and oral communication skills.
• Possess excellent negotiation skills with a commercial focus.
• Dispute resolution; ability to resolve contentious issues
• Leadership, management & team building skills
• Decision making skills and results oriented
• Good customer service but firm
• High proficiency in the use of Microsoft Office applications e.g. Word, Excel, PowerPoint.
• Ability to exercise the highest level of responsibility and confidentiality
Submit your CV and Application on Company Website : Click Here
Closing Date : 20th September, 2023
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