Job Title: Head of Collections & Customer Debt Management
Hiring Organization: HFC
Limited
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Banking
and Property Finance
Job Type: Full
Time
Salary: KES
Competitive
Date Posted: 03/19/2024
The Head
of Collections and Customer Debt Management is responsible for overseeing and
managing all aspects of our collections and debt recovery processes. The role
holder plays a pivotal role in safeguarding the bank’s financial interests by
ensuring efficient and effective debt recovery strategies while maintaining
positive customer relationships. In addition, the individual provides overall
leadership over the identification, measurement, monitoring and control over
the risks undertaken by the Bank and ensure Compliance with all major statutory
and regulatory requirements.
Principle Accountabilities
Prepare
and implement Collections and Debt Management strategies and plans to turn
around Non-Performing Loans in HFC based on Strong negotiations and
restructures. These strategies and plans should clearly delineate the
objectives and goals of the department in line with the existing Bank wide
strategic goals on NPL’s.
Reporting
Compilation.
Coordinate
accurate compilation and timely submission of periodic reports by Collections
and Debt Management department to HFC’s Senior Management, Board of Directors,
the Central Bank of Kenya and where appropriate external rating agencies;
including: –
Audit
schedules for External Audit and CBK Inspection
Manage
Credit Reference Bureau End to End Process, Issuing and filing of Pre and Post
listing notices.
Prepare
annual or Interim Action Plans for administration of non-performing loans
managed by the debt management department.
Exercise
Delegated Authority discretion relating to Management of Delinquent and
Non-Performing Loans.
Proactively
manage the Non-performing loan portfolio by employing a variety of intensive
Remedial management and loan work-out techniques to improve credit quality,
maximize recoveries and or reduce provisions and ultimate losses and costs to
the Bank.
Efficient
Team Management. Manage, mentor, motivate and coach Collections and Debt
Management staff to ensure continuous achievement of set objectives.
Evaluates,
negotiates, recommends, implements and monitors work out and recovery
strategies approved by the MLC, including legal action, debt settlements and
disposal at the best realizable values through private sale, pubic auction and
secondary market trades.
Ensure
proper documentation of all follow up strategies adopted and agreed with
debtors ensuring continuous monitoring and tracking.
Work
closely with Business Units providing feedback pointing out red flags and
weaknesses as well as providing prompt and clear strategies to the weaknesses
to reduce or eliminate cases of default.
Work in
liaison with Legal Services Department in coming up with options that are in
compliance with applicable laws, guidelines and regulations to avoid adverse
publicity and possible litigation.
Customer
Service Management by assisting customers retain their credit relation by
encouraging debt redemption and settlement.
Performance
Management: Monitor key performance indicators (KPIs) related to collections
and debt recovery activities. Prepare regular reports and presentations for
senior management, highlighting performance trends, challenges, and
opportunities.
Working
in liaison with Portfolio Management and Financial Accounting to ensure NPL
provisions adhere to IFRS 9 Standards, CBK Prudential Guidelines and Credit
Policy.
Ensure
effective and efficient Key Stakeholder Management such as Operations, Customer
Experience, Marketing, ICT, Legal, Audit and Business teams.
Service
Providers Performance Tracking. Liaise with and track performance of Service
Providers in the Foreclosure Process particularly; Valuers, Auctioneers,
Lawyers, External Debt Collectors, Investigators, Property Managers and
Receiver Managers.
Manage
Realization costs to Service Providers and inculcate culture of high integrity
when dealing with External Service Providers.
Adherence
to Money Laundering and Fraud Prevention Procedures by identifying suspicious
activities and reporting to respective Fraud/Money Laundering Prevention Unit.
Participate
as appropriate in management forum for departmental managers.
Key
Competencies and Skills
Knowledge
of the provisions of the Bank’s Credit Policy and Lending Manuals.
Analytical
skills with experience and exposure to cash flow modelling and present value
analysis
Knowledge
of relevant regulations i.e. Land Act 2012, Banking Act, CBK Prudential
guidelines, CRB Regulation 2013, Auctioneers Act, insolvency law, bankruptcy
and litigation procedures etc.
Asset
evaluation techniques and syndicated credits.
Excellent
advanced spreadsheet knowledge and good skills in other MS applications.
Excellent
communication and interpersonal skills, with the ability to interact
effectively with internal and external stakeholders at all levels.
Negotiation
skills
High
emotional intelligence
Excellent
leadership and team management skills
Adaptability
and Resilience
Process
orientation
Strategic
orientation
Minimum
Qualifications, Knowledge and Experience
Bachelor’s
degree in finance, business administration, or a related field. Master’s degree
preferred.
Professional
certifications in credit management or debt recovery will be an added
advantage.
At least
7 years of experience in collections and debt management within the banking or
financial services industry, with a proven track record of success.
Well-developed
credit/ workout skills including an understanding of the major risk factors
that impact on Non-Performing Loans in today’s changing financial and economic
environment.
