Job Title: Collections Officer
Hiring Organization: HFC
Limited
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Banking
and Property Finance
Job Type: Full
Time
Salary: KES
Competitive
Date Posted: 03/12/2024
As a
Collections Officer you will play a crucial role in mitigating credit risk by
ensuring focused attention and close monitoring of the performance of an
assigned portfolio of accounts in early arrears by identifying, reviewing band
implementing Collections’ action plans to ensure performance of the portfolio
and a clearly defined strategy for returning the accounts to performing status
or exit must be documented and approved in each case.
Principle Accountabilities
- Reviewing
and identifying accounts in early arrears and recommending the best plan
of action for resolution.
- Implementing
approved action plans and monitoring performance of accounts to ensure
that objectives are met.
- Keeping
requisite data on assigned portfolio that is to be used in production of
reports.
- Use
analytics dashboards to flag and highlight incidences that reflect
heightened risk profiles and non-adherence to loans covenants.
- Conducting
customer call visits to access business performance for SMEs and Corporate
clients.
- Ensure
accurate Collections Progress Reports (CPR) that is detailed on assigned
portfolio are generated and reviewed.
- Reduction
of monthly provisioning from current average and accounts migration.
- Coordinating
with external service providers e.g. brokers and insurance companies on
the recovery process for assigned accounts where necessary (asset finance
& IPF).
Key
Competencies and Skills
- Knowledge
of CRM software and Microsoft Office Suite – Intermediate excel skills
- Solid
customer service attitude with excellent negotiation skills
- Knowledge
of KYC/AML compliance requirements
- Astute
product knowledge
- Knowledge
of portfolio management
- Commercial
acumen
- Analytical
skills
- Knowledge
of relevant laws and regulations governing debt collection practices
- Proficiency
in evaluating credit risk and making informed decisions on debt repayment
plans based on risk assessment.
- Familiarity
with credit scoring systems and models to evaluate credit risk accurately.
Minimum
Qualifications, Knowledge and Experience
- Bachelor’s
degree in finance, Business, or a related field preferred.
- 3
years’ experience, two of which should be in credit / lending in a debt
management / collection functions or credit analysis.