Job Purpose

To assist with managing the organization's arrears book including recoveries and be responsible for coordinating activities by the staff in the arrears unit; reporting timeously to senior management on the performance of the unit; to set and track arrears management goals, objectives, and performance targets.

Job Responsibilities

Key Outputs & Responsibilities: -

• Maintain up to date customer list in default with the current information and customer’s situation with the contact numbers and next of kin details through reports from Credit Officers.
• Write demand letters to inform customers of their overdue loan repayments and follow up on payments as agreed with customer.
• Identify root causes of defaults through communication with the customer and employer and establish the right strategy to recover the overdue amounts.
• Ensure that all loans issued are monitored and detected early for non-performance or recovery by the employer.
• Achieve allocated monthly collection targets as provided month on month.
• Profiling of all non-performing loans and establish the correct strategy to recover e.g external debt collectors, insurance claims, DDAC mandates et.
• Identify skills gaps for subordinates and suggest the correct training to improve on the efficiency.
• Institute appropriate legal action for customers consistently in default.
• Negotiate reasonable settlement plans with customers in arrears and collaborate with department head/external counsel in executing legal strategy of asserting and enforcing legal claims.
• Execute on all asset recovery logistics with applicable external service providers (e.g.,repossession companies, bailiffs, external legal counsel, auctioneers
• Facilitate the discharge and removal of repossessed collateral after disposal to third parties
• Ensure that loans with collateral the security are perfected with the necessary institution (Lands, PACRA for moving assets etc)
• Able to identify process inefficiencies and come up with ideas to simplify processes and controls for enhanced data analysis/reporting.
• Develop debt recovery policies and procedures for use in the department.
• Coordinate/compile & report on all data, metrics and outcomes relevant to the role, as routinely required and otherwise mandated by department head.

Requirements:

Qualifications & Experience

• Grade 12 School Certificate with 5 credits including English and Mathematics
• Bachelor Degree in Accountancy/Finance or equivalent (Certified by ZAQA)
• Credit qualification will be an added advantage.
• A minimum of 5 years’ working experience in credit arrears/recoveries management, With atleast 2 years in a Supervisory position