Head of Collection – Retail Client

JOB PURPOSE
Management and administration function, responsible and accountable for Collections and Recoveries for Retail Clients in Kenya
Ensure compliance to Group Credit Policy and process standards
Manage delinquency and recoveries within budgeted and forecasted  levels
Manage and control all aspects of Credit Risk within Credit Dept including credit loss minimization and collection & recoveries maximization
Formulate and implement Collections and Recoveries strategies and action plans
Capacity tracking, management and planning to ensure adequate collection resources for the unit at all times for the delivery of business objectives
To manage and control all matters relating to delinquent Retail Clients accounts by constantly reviewing collection procedures and ensuring early recovery actions are taken to maximise prospects of full recovery
Highlight and analyze credit failures to identify ways of improving the Credit Approval process
Robust control environment within the collections and recoveries function
Key Roles and Responsibilities
GENERAL MANAGEMENT Establishment and implementation of the Collection strategy Manage the day -to-day operations of collections activities by effective implementation of collections strategies Manage and control all aspects of Credit Risk within Credit Dept including credit loss minimization and Collection & recoveries maximisation Monitor performance of Collections team against targets and by matching activities to daily action reports and delinquent account reports Manage, motivate and train staff to ensure team’s performance is optimised Monitor individual and team performance to ensure team’s collection targets are achieved Effective management of collection operations to meet the net credit loss as well as the credit cost goals of the business Setting right collection strategies to optimize collection results Pre charge off of unsecured/secured products, manage flow rates to prevent accounts from charging off Post charge off collection to maximize net recovery Customer segmentation and prioritization strategies at front end Accounts  Provision and charge off in line with the Group Credit Policy Responsible for agency strategies and debt sales strategies Maintenance of the capacity plan on a timely basis and validation of the assumptions Review operational processes within collections to identify opportunities to streamline operations, improve service and minimise losses to Credit Centre Manage solicitors throughout the litigation process to ensure appropriate service is provided to Collections team, and that Recoveries are optimized with minimal legal costs to the Bank Interpret MIS statistical information relating to performance of Collections e.g. delinquency ratios, flow rates, volume of recoveries made etc Post charge off collection to maximize net recovery Customer segmentation and prioritization strategies at front end Accounts  Provision and charge off in line with the Group Credit Policy Responsible for agency strategies and debt sales strategies Maintenance of the capacity plan on a timely basis and validation of the assumptions Review operational processes within collections to identify opportunities to streamline operations, improve service and minimise losses to Credit Centre Manage solicitors throughout the litigation process to ensure appropriate service is provided to Collections team, and that Recoveries are optimized with minimal legal costs to the Bank Interpret MIS statistical information relating to performance of Collections e.g. delinquency ratios, flow rates, volume of recoveries made etc                                                                Maintain performance record of Credit Reference Bureau and advice management on the performance Manage the relationship with repossession and debt collection companies Manage the relationship with external debt collection agencies  CONTROL RESPONSIBILITIES Assist the Country Credit Head to review potential delinquency areas for all Asset Products, identify potential risks and design and implement improvement plans Ensure that the Unit’s service level standards are met and that third party service level agreements are adhered to Ensure reconciliation of the Recoveries account is maintained on a timely and correct basis under maker- checker controls Ensure monthly reconciliation of Provision and Interest in Suspense accounts and timely submission of declarations to Finance Provide feedback concerning changes in customer payment behaviour to other parts of the credit group/team and to Product or Business Manager so that appropriate changes can be made to policies and procedures and business strategy Highlight and analyze credit failures to identify ways of improving the credit approval process Ensure credit checks are conducted on customers with delinquent accounts in order to assess collection prospects AUDIT REVIEW, DELEGATION & APPROVAL Ensure that the department service level standards are met & that third party service level agreement is adhered to Produce relevant MIS for the Country Credit Head and senior Management Write-off/charge-off uncollectible debts within delegated authorities Maintain goodwill Ensure CST exceptions are within Group set thresholds via timely execution of controls by the collections and recoveries team FINANCIAL Undertake primary responsibility for early warning advice to Senior Management of previous unforeseen or unbudgeted evolving portfolio risk Prepare and manage collection capacity forecasts & plan Timely and correct preparation of LI forecasts in conjunction with Portfolio Monitoring and Reporting team. LEGAL, REGULATORY, ECONOMIC AND COMPLIANCE
Qualifications and Skills
Graduate + minimum 4 year experience in Credit preferably Debt recovery or COSC + 6 years all round Banking & Debt recovery experience.
Quality focused proactive leader able to effectively communicate ideas to colleagues at all levels
Knowledge of business processing, management information systems & company technology
Full knowledge of core products, markets and main competitors
Computer literacy
Logical with accurate eye for detail
Proactive, flexible and resilient team player
Practical working knowledge of company, industry & banking guidelines & regulations
Highly customer focused with high level of interpersonal and communication skills – listening, negotiating & training
Ability to plan, co-ordinate, motivate & build teams
Project management skills