About the Opportunity
The
Recovery Manager will be responsible for leading and supervising a team
of Senior Recovery Officers and will oversee the recovery process for
individuals or entities facing financial distress. This role involves
developing strategies to recover outstanding debts or mitigate financial
losses. You will work closely with a team to analyze cases, negotiate
settlements, and implement recovery plans while adhering to legal and
regulatory guidelines.
Responsibilities
Team Leadership and Supervision
(30% time)
- Lead, motivate, and supervise a team of
Senior Recovery Officers to ensure high performance and productivity.
- Set clear performance expectations and
goals for the team and conduct regular performance evaluations and
feedback sessions
- Provide ongoing coaching, training and
development opportunities to enhance the skills and capabilities of team
members
- Oversee the day-to-day operations of the
recovery team.
- Assign cases and prioritize workload to
ensure timely action.
- Monitor progress and provide guidance to
team members.
- Train new team members on recovery
procedures, tools, and systems.
- Offer guidance and support to team
members facing challenging cases or complex situations.
- Foster a collaborative and supportive
work environment focused on achieving recovery goals.
Collaborate with Legal,
Compliance and Conduct Financial Analysis (20% time)
- Work closely with legal counsel to ensure
compliance with laws and regulations governing debt recovery activities.
- Provide input on legal strategies and
assist in preparing legal documentation.
- Stay updated on relevant legal
developments and industry best practices.
- Review financial statements, credit
reports, and other relevant documents to assess debtors’ financial health
and repayment capacity.
- Analyze collateral and other assets to
determine their potential value in the recovery process.
- Use financial modeling techniques to
forecast recovery outcomes and assess risks.
- Conduct regular reviews and audits of
recovery activities to ensure compliance with laws, regulations, and
internal policies.
- Analyze financial situations to determine
the most effective recovery approach.
Loan monitoring (30% time)
- Devise customized recovery plans based on
individual circumstances and debt types.
- Identify potential risks and
opportunities for maximizing recovery outcomes.
- 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
- 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 Recovery officers,
Loan officers, loan managers and compliance officers on Non-performing
loans
- 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
Central Banks regulations
- Follow up with Finance department to
reconcile payments received and real time transaction postings
Debt recovery (20% time)
- 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 Manager will be a trusted partner of Inkomoko clients, and basic
qualifications Include:
- A university degree in Finance, Business
Administration or another related field
- Must speak fluent English. Knowledge of
other local languages is a plus
- Proven experience in debt collection,
recovery, or credit management, with demonstrated leadership and
supervisory skills
- 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.
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.
How To Apply