Department: Business Remedial Support
Job Grade: Band 3
Position Location: Head Office
Purpose of the role:
Ensuring the profitability of bank lending products by collecting on the delinquent receivables efficiently and effectively through legal process, ADR and/or Court process. Reduce operational losses and ensuring timely closure of audit and compliance issues. Maintain relationships with other functions of NIC Group as well external stakeholders in the collections and recoveries process.
Key Responsibilities:
Collection and Recoveries
Portfolio/ Liner Management of Legal recoveries by ensuring that provisions don’t exceed set net target through proactive management with internal and external stakeholders of problem accounts and setting up structures for continuous monitoring.
Full legal liner coverage by application of the appropriate dunning actions through aggressive follow up on delinquent accounts.
Meet the credit cost goals of the business by effective collections management, follow through of procedures and standards and making timely remedial decisions.
Support business and branch units collection effort by developing and executing strategies that will aid in effective debt management.
Provide timely and legal advice and updates on legal requirements relating to debt recovery matters
Liaison with external service providers with regards to debt recovery – lawyers, auctioneers, private investigators and debt recovery agents
Representing the bank in debt recovery litigation through serving as a witness and preparation of documentation
Preparation of monthly reports on recovery progress
Constant process improvement to ensure that the Bank’s NPL portfolio is handled in an efficient and legally sound manner
Vetting of invoices from external lawyers before timely settlement Service Delivery Management
Manage customer related and control all matters relating to delinquent accounts.
Coordinate together with manager service management processes within the department to ensure delivery of set targets/objectives on customer service.
Track customer’s complaints and develop mechanisms to ensure resolution within 48 hours through the daily occurrence report and CRM as per NIC bank Customer Service Policy or else appropriately escalated through customer contact/ADR committee.
Traiblaze by providing the requisite support to the bank in resolving customer disputes/queries and guarantee customer’s NIC experience through the NIC Way.
Building prosperity together by participating in initiatives that will make lasting emotional connections with the bank’s customers. Regulatory, Process and Controls
Reduce operational losses by maintaining a current BCP, RCSA, BIARA policy
Ensure full compliance with all internal, regulatory, risk and legal requirements and a minimum of “satisfactory” on audit rating and closure of issues.
Seek to reduce and/or manage overall administrative costs
Ensure that the correct level of specific debt provision is raised in line with regulatory requirements and the bank’s internal procedures, as well as ensuring that all set targets for the reduction/recovery of debt are met.
Undertake yearly review of collection processes and policies
Undertake comprehensive business and financial assessments on identified businesses and/or accounts and make remedial proposals based on the available information
Proactively manage operating risks associated with remedial management. People Management and Leadership Supporting the departments leadership to execute executive decisions, ensure staff are coached, mentored, developed, trained, appraised and motivated by creating a conducive working environment and re-establishing NIC as the employer of choice through:-
Developing and agreeing on individual and team performance objectives standards and targets through continuously reviewing staff performance against agreed objectives.
Providing ongoing coaching, mentorship and guidance to the team to enhance overall productivity. Identifying and developing training needs.
Managing staff leave effectively and ensuring a leave plan has been set for each staff. Guarantee staff capacity and succession planning is in place.
Attending all trainings offered by the Bank and facilitate one in house staff training and rotation
Ensuring at least all staff enroll in all mandatory courses during the year and staff to attend at least one training offered by the bank during the year.
Academic Qualifications:
Mandatory Bachelor’s Degree in Law (LL.B) or equivalent
A Bachelor’s degree in Business Studies, Commerce or Marketing.
Professional Qualifications:
Admitted to the roll of advocates with 1-2 years working experience
Experience in a debt recovery environment (preferably in a financial institution) will be an added advantage
Proficient computer skills especially Excel and Word.
Qualifications in Credit Management/Debt Collection will be a definite advantage.
Work Experience:
2 year experience in banking operations with exposure to credit or lending and debt collection.
Skills Required:
Technical skills
Analytical Skills: Must be able to analyse and understand the market trends and other factors affecting the financial markets.
Knowledge of Business Environment: Must understand local and global dynamics of the business environments facing customers.
Lending Skills: Appraisal requirements for the Bank’s lending products..
Legislation: Must be familiar with legislation relating to Debt Collection and perfection of Securities, and requirements by regulating bodies.
Technology Skills: Computer literate with proficiency in MS office and graphic applications.
To have a flexible and adaptable work approach
Excellent organisational and time management skills
Excellent written, verbal, analytical and interpersonal skills
Effectively work as a team member and independently, with a high-level of self-motivation and ability to set and meet goals
Apt in negotiating and persuading
Personal attributes
Performance Oriented: Understands measurement metrics, appreciates being measured and applying objective criteria to assess customers to mitigate risks and enhance recoveries.
Personal Ethics: Must be honest, fair and just with self, and high level of integrity.
Decisive and Independent: Must be self-driven and motivated, able to consult and clarify where necessary and make informed decisions.
Interpersonal Skills: Must be good with people in both bad and good times, but firm and fair.
Negotiation Skills: Must be a hard negotiator, with excellent convincing approaches.
Communication Skills: Excellent written and verbal communication skills, report/proposal writing skills and presentation skills.
Human Resources Management Skills: management skills, team building skills, and ability to train, develop and mentor staff.
