Senior Manager- Remedial And Recoveries- Retail dfcu Bank

KEY ACCOUNTABILITIES:

• Lead and provide directions to the team that handles Retail Banking collections on non-performing Loans & recoveries on the written-off and GTB portfolios to achieve set targets.
• Constantly review the recoveries structure, systems and controls, ensuring that all the required functions are adequately and timeously addressed.
• To manage and control recovery strategies and campaigns within the NPL and write-off portfolio with the aim of maximizing collection effectiveness and efficiency.
• Identify, understand and navigate through a high variety of potential complex financial structures to establish respective party’s liability and pursue multiple repayment solutions accordingly.
• Ensure cashflows on all accounts are submitted timely & support to other stakeholders is provided in running the Impairment models.
• Support and sometimes take lead in complex settlement negotiations.
• Analyze financial information from a variety of sources (Bank systems, own due diligence, customer financial statements, etc.) and apply judgment to formulate appropriate strategies with each customer.
• Ensure timely referral to Legal when turnaround of a non-performing account is not possible and ensure foreclosure and/or recovery actions are done in the most cost effective manner to minimize losses & ensure that there is no negative publicity (reputational risk).
• Provide timely, relevant & accurate reporting and analysis of collection/recovery results against historical & projected goals to the Bank’s management team on a regular basis.
• Instruction of agents, outsourcing to a debt collection agency, consideration of litigation action in liaison with the unit head & legal department.
• Must ensure adherence to the vendor management guidelines and vendor engagement model.
• Any other duty as assigned.

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KNOWLEDGE, SKILLS, AND EXPERIENCE REQUIRED:

• Bachelor’s Degree in Economics, Statistics, Commerce, Business Administration or equivalent.
• At least 7 years’ experience in a Financial Institution with at least 4 years in bad debt management.
• Credit and Financial analysis skills & high degree of attention to detail.
• Leadership, management & team building skills.
• Decision making skills and results oriented.
• Good knowledge of the Bank’s service standards including the complaint handling procedures and Financial Consumer Protection Guidelines.
• Possess excellent interpersonal, written and oral communication skills.
• Possess excellent negotiation skills with a commercial focus.
• Self-driven and ability to work under minimum supervision.
• Awareness of business issues & current economic events.
• 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.
• Dispute resolution; ability to resolve contentious issues.
• Ability to exercise the highest level of responsibility and confidentiality.