ABOUT THIS 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

CANDIDATE QUALIFICATIONS

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.

WHAT YOU’LL GET

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.

• 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
• 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

• Ability to deliver unpleasant messages to debtors
• Assertiveness
• Perseverance
• Personal integrity
• Critical thinking
• Ability to work with diverse personalities and communication styles
• Ability to plan ahead and prioritize objectives
• Ability to implement reliably
• Ability to identify factors that hinder goal accomplishment
• Proficiency in technology

• 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
• Comfort with the civil court system, and previous experience in litigation preferred
• Must be able to legally work in Kenya
• Prior Experience working in the locations is a plus