Description
Credit Recovery Officer (3)
Job Purpose
To identify, review and recover or restructure/restore to
performance non-performing debts and make appropriate recommendations to avoid
such situations arising in the future in order to mitigate credit risks.
Management
Main Responsibilities
•To initiate and develop restructuring and recovery
strategies towards reduction of non-performing loans (NPL) levels as targeted
by bank’s management;
•Contribute to the bank’s profit through writebacks
•Ensure compliance with credit policies, regulatory
requirements and best practices in carrying out recovery actions with a view to
minimizing credit risks
•Work closely with all banks appointed external
agencies(debt collectors, appointed receivers, court bailiffs, lawyers etc…)
and other third party vendors
•Partner with the legal unit and lawyers for efficient and
effective resolution of matters in court.
•Assist Credit Recovery Manager to prepare statutory and
regulatory reports required by the bank
•Give recommendations to the Recovery Manager on issues of debt
recovery including disposal of securities, litigation, restructuring, final
settlement, write-offs and write-downs for approval.
•Provide professional business support to the Credit
Recovery Manager to resolve challenges faced by stressed clients
•To enhance the Bank’s overall image through improved
relations with bad debtors and ensure customers are satisfied through timely
responses to issues;
•Perform other tasks reasonably required by Credit recovery
Manager or Senior Credit Recovery Manager within the framework of this job
description.
Daily Responsibilities:
•Daily review of assigned NPLs portfolio for any follow up
of promise to pay from the customer and plan course of action to recover owed
money.
•Meeting and call customers, write call reports and sharing
with Credit Recovery Manager and file same to customer files.
•Write demand notice and statutory notices to customers
under NPL; initiate and follow up related files in CQ, EMRS, and IECMS
•Negotiating with customers to express their willingness to
repay and propose different alternatives to get solutions
•reparation of Recovery reports for management and regulator
Educational qualifications and work experience:
•Bachelor’s degree in Finance/Accounting /Economics/
Business/Management/Law
Educational Resources
•Professional Qualifications: CPA/ILPD
•3 years of minimum experience in debt collection,
recoveries and Credit.
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