RECOVERY OFFICER

2. Asset seizure/sales • Ability to successfully conduct assets seizure independently. • Ensure proper documentation of the seized item and immediate storage of the same. • Maintain good communication with the Head of Recovery if challenges occur during seizures and also work with him to fix prices of the items in line with the banks policy. • Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover for the total outstanding debt.

3. Arrears Portfolio Management • Conduct Portfolio segment analysis to identify risky segments and potential methods of recovery of the debt. • Ability to Follow up on pending payment agreements with default clients and reach negotiated agreements with them. • Identify challenges in own portfolio and discuss same with the Head of Recovery with the objective of overcoming the challenges to recover the debt. • Identify and analyse portfolio to determine root causes of default and propose the best method of recovery of the loan. • Ensure that very difficult cases at least 5 per week are brought to the attention of the weekly arrears committee meeting for a concerted effort towards debt recovery.

4. Reduction of Loan restructuring, Loan refinancing and Loan write-offs • Ability to react proactively to unhealthy and risky portfolio thereby saving the institution of losses. • Conduct prompt follow up on all parties leading to a jointly negotiated settlement and reduction of losses. • Look for innovative ways to get loan repayment other than restructuring, refinancing and write-offs. • Reduce write-off projections for own portfolio by 30% monthly.

GENERIC RESPONSIBILITIES:
1. Quality control and production arrears management: • Ensure the recovery of written off loans. • Monitor customer file and late payment in arrears. • Perform reminders by telephone, mail or in the field of late payment by customers. • Apply debt collection procedures to unpaid installments. • Maintain close contact with customers when necessary and feasible. • Achieve given recovery targets. • Negotiate a new schedule in case of actual difficulty of the customer found. • Ensure recovering unpaid installments is in accordance to the banks’ policy.

2. Controls • Checking past due notices/other client correspondence/letters. • Monitoring customers’ compliance to timeline.