Vacancy title:
Recovery Collection Officer
Jobs at:
Letshego Bank TanzaniaDeadline of this Job:
Wednesday, May 01 2024
Summary
Date Posted: Wednesday, April 24 2024, Base Salary: Not Disclosed
JOB DETAILS:
Job Title: Recovery & Collection Officer
Reports To: Recoveries Manager
Purpose of the Job:
• The role is responsible for the entire NPL and write-off portfolio management, develop recovery strategies, appraising and assessing bad debt situations, implement initiatives to minimize credit losses and preparing
Key Accountabilities:
• Regularly review non-performing loans and initiates plans/strategies for recovery of those loans.
• Monitor and work closely with external debt collectors.
• Issue demand notice letters on time in adherence of recovering procedures.
• Makes recommendations to Recovery Manager about the likelihood of recovering loans and whether legal action will be required.
• Responsible for maximizing recoveries from written off accounts and making daily
• Ensure that records of all loans paid off are properly filed and securities are delivered to legitimate owners.
• Attend and actively participate in recovery forums facilitated by the Recovery Manager
• Make follow up with external collectors to ensure that impounded / recovered monies/ items are not misused by debt collectors.
• Present non-performing cases to the Recovery Manager to be re-allocated to active collection firms.
• Assist/guide the branch and the rest of the recovery team on loan recovery procedures to protect company from legal suits.
• Develop relationships with the police, local administration and other government agencies necessary to support collection.
• Work with the Recovery Manager and the collections officer to oversee disposal of recovered assets if available.
• Actively participate in own related training activities in the branch and the organization at large:
• Actively participate in performance management discussions and work closely with the Recovery Manager and Collection Manager in ensuring that respective performance targets are achieved:
• Be self-disciplined and conflict averse, maintaining open and fare communication and engagement with team members;
• Manage own time and attendance and ensure effective leave utilization.
• Adhere to all Company Policies
Knowledge and Experience Required of Job Holder:
• Bachelor of Commerce degree with a specialization in Finance or Accounting (or an equivalent qualification).
• A minimum of 2 years’ experience in hands-on late-stage collections in banking industry or a financial institution and Advanced knowledge of is excel
• Knowledge of corporate Governance and credit Risk Management
• Capability of progressive leadership and development of a collections team.
• Excellent written and verbal communication capabilities
Work Hours: 8
Experience in Months: 24
Level of Education: Bachelor Degree
Job application procedure
Interested and qualitied applicants are requested to submit their application and CV explaining why they are the best fit for the position by 1 st May 2024 through the email tz.human.resources@letshego.co.tz
Disclaimers: This advert is not an in-depth list of all duties and responsibilities associated with the Position. Only short-listed candidates will be contacted.
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