Job Purpose
Reporting to the Head of Credit, the Debt Recovery Manager will be responsible for effectively managing the Bank’s debt recovery activities to ensure timely collection of all monies due.
Key responsibilities and accountabilities
Plan and implement collection strategies and make recommendations on new techniques of collection to reduce bad debts.
Ensure controls and compliance with corporate policies and maintenance of necessary books of accounts, meeting time and accuracy norms and preparing reconciliation.
Prepare bad debt reports and draw these to the attention of the management with recommendations on actions to take to minimize risk.
Ensure debtors’ accounts are managed accurately, statements issued on time, reconciliation issues are addressed effectively and debtor’s aging lists are prepared and submitted in a timely and accurate manner.
Ensure that appropriate records of bad debts and collections are appropriately maintained and updated on a regular basis.
Establish and manage commercial arrangements with third parties for the recovery of bad debt,
Contact/ visit customers with outstanding accounts so as to collect outstanding monies and minimize loss.
Issue demand and reminder letters to customers with overdue accounts and maintain all debtor correspondence; initiate and follow through legal proceedings in line with the Bank’s policy.
Manage and develop staff.
Prepare reports on collections and figures of delinquencies to inform management.
Qualifications and Competencies
Holder of a Bachelor’s degree in Finance, Commerce, Economics Accounting, Banking or any business related field.
Possession of professional qualifications in Credit Management will be added advantage
Should have at least seven years’ experience in debt recovery in a Bank or Financial Institution, three of which should have been in a supervisory role.
Should have thorough knowledge of legislation relating to lending and lending portfolio management.
Should have excellent knowledge of data analysis and Microsoft Excel skills.
Should have excellent inter-personal, communication and negotiation skills.
Should have strong leadership and people management skills with demonstrated competencies in championing high performance management.
Should have excellent planning, organization, problem solving and analytical skills.
Qualified and interested candidates who meet the above requirements should send their application in HARD COPIES ONLY quoting the title of the position applied for on the cover letter and envelope, together with detailed Curriculum vitae, copies of certificates and the contact information of three referees to:The Head of Human Resources
Consolidated Bank of Kenya Limited
P.O. Box 51133 – 00200
NAIROBIAll applications should be sent through the above address ONLY, and received no later than 5.00 p.m. on Wednesday, 19th June 2024. Only selected candidates will be contacted.
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