Inkomoko is hiring a Recovery Officer in Nairobi to manage delinquent loan accounts, execute debt recovery strategies, engage clients on payment plans, and minimize portfolio default risk.
About the Role
- The Recovery Officer Key responsibility will be to alert, follow up,
recover defaulted loans by conducting site visits, coordinating with local
authority, manually settling overdue, blocking accounts of overdue
clients, and solving the problems with overdue and defaulted clients.
Responsibilities
Loan
monitoring (40%)
- Monitor the credit portfolio and evaluate the risk of potential
default while recommending recovery solutions
- Identify and escalate repayment irregularities for further
management action
- Preparation of monthly portfolio report for Management decision
- Preparation of weekly portfolio reports for credit review meetings
- Compute weekly PAR report including; product, individuals and SMES
PAR analysis
- Evaluate product performance through collection and data analysis
- Provide weekly report on turnover on loan accounts
- Maintain an effective trigger reporting system of credit impairments
and propose corrective actions
- Provides support to Loan officers, loan managers and compliance
officers on Non-performing loans
- Call, visit and send periodic reminders to loan customers on
scheduled repayments
- Conduct post disbursement spot checks on customers to confirm loan
performance and utilization
- Monitoring defaulters repayments to stop recurrent non-compliance
- Maintain PAR level in compliance with CBK regulations
- Follow up with Finance department to reconcile payments received and
real time transaction postings
- Responsible for achieving monthly PAR target
- Negotiate payment plans with defaulters
- Initiate receivership process with the lawyer
Debt
recovery (60%)
- Monitor allocated portfolio of delinquent loans facilities to
determine reasons for delinquency by application of sound credit judgment,
collections strategy and process within predetermined broad policy
guidelines and regulation to minimize credit losses
- Ensure compliance to Inkomoko’s Credit Policy and Procedures
regarding management of debt recovery process
- Maintain and prepare monthly collections reports, updates and status
- Maintain a consistent reduction of non-performing debts through
aggressive recoveries and viable restructuring options
- Undertake regular and frequent calls, site visits, and follow-ups
with the borrowers to implement remedial strategies and action plans for
loan recovery
- Initiate demand and reminder letters to all defaulting customers and
review all credit files for proper documentation and monitoring
- Ensure effective compliance standards are consistently met with both
internal and external regulatory requirements by working closely with
lawyer
- Develop and continuously review credit and recovery policies and
procedures ensuring their compliance
Requirements
The
Recovery officer will be a trusted partner of Inkomoko Trustee clients, and
basic qualifications Include:
- A university degree in Finance, Business Administration or other
related field.
- Must speak fluent English, and Swahili. Knowledge of other local
languages is a plus.
- Minimum of 3 years banking of MFIs experience in a credit monitoring
/loan recovery role.
- Knowledge of MFIs or banking operations, credit risk management,
fraud management, Loan Recovery and Debt Management
- Prior experience dealing with customers/debt collection
- Decisive individuals with ability to deliver unpleasant messages to
the debtors and assertive enough to get the debtors pay off the entire
debt
- Comfort with the civil court system, and previous experience in
litigation preferred
- Unrelenting perseverance, personal integrity, and critical thinking
skills
- Must be able to legally work in Kenya
- Prior Experience working in the locations is a plus
Competencies
- Manages Diverse Relationships – Relates well to a wide variety
of personalities, values differences, and communicates effectively across
diverse communication styles, cultures, and backgrounds.
- Takes initiatives to Deliver –Thinks several months in advance,
prioritizes objectives, implements reliably, and quickly identifies what
will help or hinder goal accomplishment.
- Fluent in Technology – Uses technology effectively to work
efficiently and achieve desired outcomes.
Benefits
This
role is inside a high-growth, mission-driven social enterprise. By joining,
you’ll access:
- Competitive salary, and potential KPI-based bonus
- Incredible company culture, including deep investment in your
learning and growth
- Diverse colleagues and policies that show our commitment to equity
and inclusion
- Talented, passionate, and committed team colleagues across the
region
- Ability to make a significant social impact to your community
- Generous health insurance, staff savings, parental leave,
sabbatical, and more benefits.
How to Apply
