Job Title: Recovery Officer
Hiring Organization: Inkomoko
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Service
Job Type: Full
Time
Salary: KES
Date Posted: 04/16/2024
Inkomoko
supports entrepreneurs to grow their businesses in order to improve
livelihoods, create jobs, and help communities thrive. Founded in 2012,
Inkomoko has worked with more than 60,000 entrepreneurs across East Africa,
including thousands of refugee entrepreneurs.
Inkomoko
provides a combination of training, consulting, access to finance, and
market-level systems change. We are the largest lender to refugee entrepreneurs
in Africa.
Inkomoko
has 400+ staff in 30 offices across Rwanda, Kenya, Ethiopia, and South Sudan.
Through Inkomoko’s 2030 strategic plan, we are adding 4 additional countries to
improve the lives of more than 7.6M people by serving more than 550,000
entrepreneurs and investing $150M into refugee & host communities across
Africa.
Company Values
All staff
at Inkomoko are connected to a shared set of organizational values:
- Purpose:
be solutions-oriented, produce high-quality work, be a global leader.
- Achievement:
push yourself to reach beyond what you previously thought possible.
- Improvement:
be humble, engage in continuous growth through open & accurate
feedback.
- Bravery:
willing to take risks, create a safe space for others, be compassionate,
inclusive.
- We
Eat Goat: we celebrate success and support each other in hard times. We do
this work together in the spirit of turikumwe, tuko pamoja, abren nen,
urang babarengan.
- Inkomoko
reflects the communities we serve. Displaced persons and women are
strongly encouraged to apply.
About
the Opportunity
The Loan
Recovery Officer Key responsibility will be to alert, follow up, recover
defaulted loans by conducting site visits, coordinating with local authority,
manually settling overdue, blocking accounts of overdue clients, and solving
the problems with overdue and defaulted clients.
Responsibilities
Loan
monitoring (40%)
- Monitor
the credit portfolio and evaluate the risk of potential default while
recommending recovery solutions
- Identify
and escalate repayment irregularities for further management action
- Preparation
of monthly portfolio report for Management decision
- Preparation
of weekly portfolio reports for credit review meetings
- Compute
weekly PAR report including; product, individuals and SMES PAR analysis
- Evaluate
product performance through collection and data analysis
- Provide
weekly report on turnover on loan accounts
- Maintain
an effective trigger reporting system of credit impairments and propose
corrective actions
- Provides
support to Loan officers, loan managers and compliance officers on
Non-performing loans
- Call,
visit and send periodic reminders to loan customers on scheduled
repayments
- Conduct
post disbursement spot checks on customers to confirm loan performance and
utilization
- Monitoring
defaulters’ repayments to stop recurrent non-compliance
- Maintain
PAR level in compliance with CBK regulations
- Follow
up with Finance department to reconcile payments received and real time
transaction postings
- Responsible
for achieving monthly PAR target
- Negotiate
payment plans with defaulters
- Initiate
receivership process with the lawyer
Debt
recovery (60%)
- Monitor
allocated portfolio of delinquent loans facilities to determine reasons
for delinquency by application of sound credit judgment, collections
strategy and process within predetermined broad policy guidelines and
regulation to minimize credit losses
- Ensure
compliance to Inkomoko’s Credit Policy and Procedures regarding management
of debt recovery process
- Maintain
and prepare monthly collections reports, updates and status
- Maintain
a consistent reduction of non-performing debts through aggressive
recoveries and viable restructuring options
- Undertake
regular and frequent calls, site visits, and follow-ups with the borrowers
to implement remedial strategies and action plans for loan recovery
- Initiate
demand and reminder letters to all defaulting customers and review all
credit files for proper documentation and monitoring
- Ensure
effective compliance standards are consistently met with both internal and
external regulatory requirements by working closely with lawyer
- Develop
and continuously review credit and recovery policies and procedures
ensuring their compliance
Minimum
Qualifications
The
Recovery officer will be a trusted partner of Inkomoko Trustee clients, and
basic qualifications Include:
- A
university degree in Finance, Business Administration or other related
field.
- Must
speak fluent English, and Swahili. Knowledge of other local languages is a
plus.
- Knowledge
and familiarity of Kakuma and Kalobeyei is a plus.
- Minimum
of 2 years banking of MFIs experience in a credit monitoring /loan
recovery role.
- Knowledge
of MFIs or banking operations, credit risk management, fraud management,
Loan Recovery and Debt Management
- Prior
experience dealing with customers/debt collection
- Decisive
individuals with ability to deliver unpleasant messages to the debtors and
assertive enough to get the debtors pay off the entire debt
- Comfort
with the civil court system, and previous experience in litigation
preferred
- Unrelenting
perseverance, personal integrity, and critical thinking skills
- Must
be able to legally work in Kenya
What
You’ll Get
This role
is inside a high-growth, mission-driven social enterprise. By joining, you’ll
access:
- Competitive
salary, and potential Goal-based bonus
- Incredible
company culture, including deep investment in your learning and growth
- Diverse
colleagues and policies that show our commitment to equity and inclusion
- Talented,
passionate, and committed team colleagues across the region
- Ability
to make a significant social impact to your community
- Generous
health insurance, staff savings, parental leave, sabbatical, and more
benefits.