Job description
Do you have strong communication and negotiation skills? Are you an optimistic and solutions oriented individual? Do you posses good instincts, ‘collector street smarts’ and strong capability of building rapport with clients?
Momentum Credit provides working capital solutions to small businesses and individuals. The Collection Officer will play a crucial role in performing loss mitigation and recovery activities regarding delinquent or charged-off accounts.
The successful candidate will report to the Portfolio Manager and will not supervise any staff initially. Momentum Credit believes in allowing its team to explore their potential and they fully support each member at each phase of their career progression towards career growth.
Picture of Success
Success shall be evaluated on the progress of attaining the following goals by: Specific dates/timelines and specific targets set out as:
Daily:
Maintain the loan book register and verify that all documents are in the loan booklet
Document and liaise all early payments with the Portfolio Manager
Update PAR report as per the policy depending on PAR classification
Update the Pipeline report by COB
Ensure fleet has valid insurance policies and report all accident cases to the Portfolio Manager
Confirm GPS coordinates 14 days after disbursement and ensure that all vehicles are tracked and visible twice a week.
Ensure that all valuation certificates are received after disbursement and all cars at the yard are accurately valued before sale.
Ensure a smooth payoff and finalise on documentation for clients i.e. Logbook, Insurance stickers etc
Prepare demand letters for approval by the Portfolio Manager and send out to clients
Ensure that Proclamation and Disposition Letters are sent to clients in line with the policy
Prepare repossession letters for approval by the Portfolio Manager and check condition of car, inspect, refurbish and document as per policy
Ensure all vehicles are accounted for according to policy and all actions taken as per policy
Attend auctions on behalf of the Company
Prepare loan restructuring application and account statement for approval by Portfolio Manager
Send chattels to the lawyer for registration
Maintain world class customer service to all clients
Weekly:
Attend departmental meetings, present portfolio reports and make a meaningful contribution
Prepare Chattel report and Portfolio report as defined by the Portfolio Manager and send to the Portfolio Manager COB Monday
Monthly:
Maintain a collection efficiency of 85% or above
Ensure 97% or more tracking of all vehicles of interest are accounted for and visible at any given time
Maintain Portfolio PAR 30 below 7%
Ensure 100% recovery of bad debt
Minimum Requirements
Degree or Diploma in a relevant field
Previous work experience in collection is a must
Strong communication and interpersonal skills
Great customer service skills
Strong time planning and multi-tasking skills
Highly motivated and ambitious individual with unquestionable integrity
