Job Purpose
The primary purpose of the role is to build and
maintain effective relationships with Debtors, Service Providers and LDFS
promoters (merchant services), in a manner that proactively promotes timely
servicing of client debt across all products across LDFS markets. They research
and analyze best practice collection and repayment trends, and design and
implement intelligent, digital first, data driven and personalized collection
and recovery strategies that drive timely repayment, customer retention and rehabilitation.
The Officers will be assigned as field agents and
shall also be in charge of delegated portfolios including oversight on LDFS
merchant promoters and external debt collection agencies, and will be required
to build rapport and provide effective support in a manner that drives the
intended repayment targets, hence revenue outcomes. The M&C Officer will
analyze the debtor and partner communication strategy, negotiations and
contracts to identify trends that can improve debt management procedures.
This role shall be involved in the day-to-day
coordination of Business, Product, Technical, Delivery and Operations teams,
and 3rd party Service Providers in implementing monitoring, control,
collections and recoveries processes.
The role observes full compliance with the core
principles of good lending enshrined in the relevant Prudential and Group
Policies in the respective markets.
Duties And Responsibilities
Financial (30%)
- Build an effective digital first and data driven
market/product specific credit risk monitoring and control process that
prioritizes, segments and personalizes debtor engagements in a manner that
maximizes repayments and minimizes roll forward rates while promoting
customer retention, hence sustained revenues through proactive debtor
relationship management and rehabilitation strategies
- Take high-level strategy and design philosophy, control
proposals and business problem statements, and break them into small
practical workflows that engineering can develop and implement through use
cases, requirements and test script documentation for proposed debtor
journeys.
- Execute end to end testing of product designs in a manner that
assures quality and minimizes cost of risk and continuously monitors Unit,
Promoter, Service Provider and Personal KPIs, and proactively takes
actions to address these risks
Internal Business Processes (40%)
- Design and implement embedded and personalized debt management
workflows and processes for new and existing projects based on respective
risk profiles and business objectives.
- Design and document Functional and Non-Functional Requirements
Specifications for the debt management, and M&C workflows to
facilitate system development.
- Quality Assurance: Document Test Scripts and work with
cross functional squad partners as well as external partners to perform
integrated e2e tests and undertake continuous validation and change
management of debt management workflows and processes.
- Support Manager to build and continuously enhance data driven
automated reports, and ensure timely inputs and submission of such reports
highlighting key insights, risk areas and recommendations thereof
- Negotiate and recommend restructures, repayment incentive
campaigns and exit strategies for problem accounts and relationships
- Liaise with all external stakeholders involved in debt
recovery which include Promoters, Lawyers, Auctioneers, Independent
Collection Agencies, Private Investigators, Receivers etc. while ensuring
the TAT’s and SLA’s are compiled within collections & recovery
processes.
- Manage and resolve customer and partner complaints within
pre-defined SLAs
- In liaison with business eco system leads help in defining
engagement and collection journeys for merchant segments.
- Execution of repayment incentive initiatives to maximize
recovery in collaboration with business teams.
- Processing claims of amounts outstanding from insurance for
deceased customers.
- Capture and communicate customer feedback /VoC during
collections activities aimed at Improvement of Loop DFs credit quality,
products and processes.
- Satisfactory Audit, CBK, Risk and compliance ratings.
Customer (20%)
- Creative and intelligent customer communication based on
behavioral science through calls, emails, issuance of demand letters and
notices etc., in a manner that drives optimal conversion rates on
repayments.
- Merchant onsite visits, in liaison with assigned promoters
and/or assigned relationship staff.
- Develop relationships with LDFS Ecosystem Leads, Promoters and
External Debt Management partners in a manner that optimizes the
relationship, repayment, retention and rehabilitation outcomes
- Quality of credit service standards and maintenance of TAT as
per Service Level agreements
- Achieve clear communication and excellent relationship
management in handling assigned portfolio of delinquent accounts.
- Conducts call visits and subsequently prepares call visit
reports within 7 days of the visit
- Ensure client request are handled within the set parameters
–e.g. restructures, waivers, full and finals offers etc.
- Efficient Management of external service providers as will be
assigned i.e. ICA, Lawyers, Private Investigators and Skip Tracers etc.
- Query and complaint management within set TAT and SLA and
timely escalation.
People (10%)
- Periodic training and performance management oversight of
regional teams and service providers in line with SLAs, Quality assurance
guidelines and Group Policy.
- Self-development: engage in self-development initiatives and
trainings that equip staff on emerging global intelligent debt management
practices
- Adherence to performance management targets
Job Specifications
Academic:
- University degree preferably in Economics, Finance or Business
Administration or related fields.
- Relevant professional qualification in Banking, Risk
Management and Law an added advantage.
- Professional knowledge of SQL and/or related statistical
packages is an added advantage
- Certified Credit Professional certification (CCP-K) is an
added advantage
Desired work experience:
- At least 2 years work experience in a bank or financial
services institution of which 1 year should have been in Remedial
Management (Debt Collections and/or Recoveries) preferably in a highly
digitized, high volume environment.
- Working experience in a collection agency gives an added
advantage.
Job Competencies
Technical Competencies
- Knowledge of related Credit Risk Management regulations and
policies
- Understands and communicates the business value of credit risk
management, collections and recoveries.
- Capable of deriving key insights and patterns from debtor
interviews and using that input to clarify problem statements.
- Proficient at issue mapping, to break issues down into smaller
practical problems and solutions.
- Sets success metrics for collections and recoveries in
development, tracks metrics post-launch to guide investment in iterative
improvements.
- Ability to make highly informed prioritization & trade-off
decisions with Business, Delivery and Product Teams.
- Excellent portfolio management, collections and recoveries
processes as well as process design and development.
- A good understanding of all core processes and knowledge of
regulatory and statutory requirements.
- Excellent written and verbal communication skills for
coordinating cross functional teams.
- Risk Management Design – Deep familiarity with digital banking
and payments products and the relevant business processes
Behavioural Competencies
- Excellent planning and organizational skills with ability to
break down complex items to actionable elements.
- Relate easily and naturally with executives, business
managers, technical teams and customers. Has excellent listening skills
and understands the desires and challenges of all our leaders and
customers.
- Able to change plans, methods, opinions or goals in light of
new information, with the readiness to act on opportunities. Highly
effective in adapting to differing environments.
- Capable of developing a sound understanding of the motives,
needs and concerns of others and develop a deep understanding of their
complex stakeholder network. Can anticipate the motives and expectations
of others effectively.
- Self-motivated and self-managing.
How To Apply
