Job description
Are you a practising advocate, eager to tap into the operational side of credit and collections from a legal perspective? Momentum Credit needs you!
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
Register LBL Chattel/ Security Agreement. This will involve:
Registering the Security Agreement, prior to disbursement
Emailing client of notification of Security Agreement registration
Uploading on Mambu
Register IF Chattel/ Security Agreement. This will involve:
Registering the Security Agreement, prior to disbursement
Emailing client of notification of Security Agreement registration
Uploading on Mambu
Register Guarantees Chattel/ Security Agreement
Registering the Security Agreement, prior to disbursement
Emailing client of notification of Security Agreement registration
Uploading on Mambu
Represent MCL at Legal Hearings
Attend legal hearings on Momentum’s behalf
Advice on strategy for litigations
Update the Portfolio Manager on litigation progress
Affidavits
Swear Affidavits on Momentum’s behalf
Issue Repossession Letters
Issue Demand Letter – 14 Days after days in arrears
Issue Letter of Instructions – 21 Days after days in arrears, as instructed by PM Collection Officer
Issue Disposition Letter – On the day the vehicle is repossessed
File Litigation Documents
Keep abreast with all litigation processes
Liaise with the company layer on all litigation cases
Insurance Cases
Follow up on all Insurance cases pending, within
Ensure Momentum’s entire fleet is insured at all times
Legal Compliance • MCL + Third Party
Weekly
Report on Logbook Registration and outstanding registrations and escalate any Issues to the Portfolio Manager
Attend the departmental meetings and make a meaningful contribution
Train/ update portfolio team on new legal practices and processes
Monthly
Maintain a PAR under 7%
Maintain a Collection efficiency of 85%
Minimum Requirements
Bachelor’s Degree in a relevant field
An advocate of the High Court of Kenya with a current advocate’s practicing certificate
Minimum 2 years work experience in a relevant role
Sound understanding of the regulatory environment with respect to statutory and regulatory authorities
Excellent knowledge of corporate, regulatory and company law, rules and norms
Strong time planning and multi-tasking skills, and attention to detail
Strong strategic thinker with self-determination
Highly motivated and ambitious individual with unquestionable integrity
