Recovery Officer

Key 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.
• Prepare monthly portfolio reports for management decisions.
• Prepare weekly portfolio reports for credit review meetings.
• Compute weekly PAR report including product, individual, and SME PAR analysis.
• Evaluate product performance through collection and data analysis.
• Provide weekly reports on turnover on loan accounts.
• Maintain an effective trigger reporting system of credit impairments and propose corrective actions.
• Provide 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.
• Monitor defaulter repayments to stop recurrent non-compliance.
• Maintain PAR level in compliance with CBK regulations.
• Follow up with the 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 loan facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy, and process within predetermined broad policy guidelines and regulations to minimize credit losses.
• Ensure compliance with 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 legal counsel.
• Develop and continuously review credit and recovery policies and procedures ensuring their compliance.

Requirements

• A university degree in Finance, Business Administration, or another related field.
• Must speak fluent English and Swahili. Knowledge of other local languages is a plus.
• Minimum of 3 years of banking or MFI experience in a credit monitoring/loan recovery role.
• Knowledge of MFI or banking operations, credit risk management, fraud management, loan recovery, and debt management.
• Prior experience dealing with customers/debt collection.
• Decisive individuals with the ability to deliver unpleasant messages to debtors and assertive enough to get debtors to 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.
• Prior experience working in the locations is a plus.

Competencies

• Manages Diverse Relationships: Relates well to a wide variety of personalities, values differences, and communicates effectively across diverse communication styles, cultures, and backgrounds.
• Takes Initiatives to Deliver: Thinks several months in advance, prioritizes objectives, implements reliably, and quickly identifies what will help or hinder goal accomplishment.
• Fluent in Technology: Uses technology effectively to work efficiently and achieve desired outcomes.

Benefits

• Competitive salary, and potential KPI-based bonus.
• Incredible company culture, including deep investment in your learning and growth.
• Diverse colleagues and policies that show 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.