Job Description
Finance Jobs. Chai Sacco Jobs
Purpose of the Job
The overall purpose of the job is to oversee the operations of the loan recovery section and ensure policies are adhered to with an aim of improving SACCO’s liquidity and PAR.
Duties and Responsibilities
Operational Roles and Responsibilities
- Developing, documenting, implementing and maintaining a recovery strategy.
- Identifying, assessing and evaluating risk areas in recovery and making appropriate recommendations for improved collections of SACCO’s funds.
- Identifying key risks that are associated with collaterals, assessing those risks, and establishing the best practices to counter and ensure effective collections.
- Working with other players in the market with a view to enforcing recoveries from members with default.
- Preparing accurate and timely monthly reports, clearly indicating performance and delinquency levels.
- Loan default management – ensure timely collection and recovery of Society’s funds.
- Refer matters to the Co-operative tribunal process, participation and provision of required documents/information.
- Management of CRB listing and ensure loans are listed appropriately, information sharing and reference.
- Debt collection management including effective allocation of accounts for debt collection, reviewing debt collection performance both internal and external and making necessary recommendations.
- Perform any other duty as assigned from time to time.
Managerial Roles and Responsibilities
- Oversee all loan recoveries by monitoring default and instituting recovery measures.
- Developing and maintaining sound recovery systems and reporting formats.
- Timely monitoring of PAR and provisioning.
- Timely reconciliation of station accounts.
- Identifying and recommending loans for write off.
- Ensuring effective disposal of securities for loan recoveries.
- Address all recovery system modules and updates.
- Ensuring all contracts and SLA’s with service providers are up to date.
- Developing and implementing loan recovery management controls.
- Preparing management reports related to loan recoveries.
- Participating in preparation and implementation of the Strategic Plan.
- Educating staff in the department on the recovery policy.
- Supervising, training, and appraising staff.
Operational Roles and Responsibilities (Continued)
- The loan recovery officers adhere to the default management policy on recoveries.
- Supervise and advise the recovery officers on any matters regarding recoveries.
- Timely submission of all loan recovery reports.
- Liaising with debt collectors, auctioneers, and lawyers on accounts that have been handed over.
- Managing escalated customer inquiries and complaints pertaining to loan recoveries.
- Approving of loan restructuring and rescheduling of loans.
- Oversee bimonthly recovery meetings for all branches.
- Supervise on status update of member accounts.
- Hold monthly meetings with the management and board on recovery related matters.
Job Specifications
Education
- Bachelors degree in Business or related field
- CPA (K)/ACCA/CCP Qualification
- A Master’s degree in a Business related field is an added advantage
- Membership in a professional body
- Practicing certificate
Skills Required
- Good communication skills
- Excellent interpersonal skills
- Well organized
- Honesty and integrity
- Team player
- Exhibit willingness to learn new processes and procedures to make work efficient
- Computer literacy skills with experience working with Accounting Packages
- Demonstrated experience in Microsoft Office, Spreadsheet applications and computerized accounting systems
- Strong advisory and analytical skills
- Fluent in English with excellent communications, presentation and interpersonal skills
Minimum Experience Required
- 5 years work experience
How to Apply
The post Loan Recover Manager Job Chai Sacco appeared first on Corporate Staffing Services.