Head of Collections at Mwananchi Credit Ltd

Job Description

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Mwananchi Credit Limited was incorporated as a private limited company under the Companies Act (Cap ) of the Laws of Kenya. It initially started operations under the names Mwananchi Microlink Ltd which was incorporated on 15th April . On 10th January , it later changed its names to Mwananchi Credit Limited.

JOB PURPOSE:

The Head of Recovery and Collections is responsible for collections operations process from intake until recovery as per the collections strategy of the business. The role is accountable for providing strategic direction and guidance on a diverse range of complex collection and recovery activities.

The incumbent is responsible for overall direction, delivering business objectives and people management of the Collections Department.

Essential Duties & Responsibilities include but not limited to the following:

Develop and implement recovery strategies and action plans for each non- performing loans. Reduction of non- performing debts through aggressive recoveries and viable restructuring options. Full compliance with Credit policies. Achieving collections targets. Supervise and manage Portfolio Officers performance to maximize on collections for optimum performance. Minimize recovery costs through vetting of invoices and upfront fees negotiations. Coach, guide and motivate staff to enhance efficiency and productivity. Correspondence with both external and internal customers on debt collection and recoveries. Meetings with the debtors and service providers, including official visits to their operations. Monitor debtors’ compliance with the agreed settlement arrangements. Control delinquent loan payments and recovery of non-performing loans. Analyze clients’ financial situations and negotiate loan repayment arrangements. Make recommendations to management, when appropriate, for stronger collection actions including repossession of security. Giving a detailed report on accounts collected on daily, mid-month and monthly basis. Maintain accurate records, files, and reports on all collection activity. Inform management on the trends in loan disbursements that contribute to delinquency. Contact clients whose loans are almost due to prepare them to honour the instalments. Ensure all cheques which are due for banking are duly banked and follow up on bounced cheques. Ensure all penalties arising from late repayments are followed up and collected. Ensure all demand letters are issued timely and clients informed on the way forward. Adhere to the set policy on loan recoveries and collections. Perform any other related function as assigned to by the management from time to time.

Knowledge/Skills/Experience:

A good manager with finance qualification. Knowledge of legal practice a plus Numerically savvy, able to work with data, perform analysis and communicate result. Excellent analytical skills, quantitative and qualitative. Experience of working in a commercial debt recovery environment would be an advantage Proficiency and good IT skills and knowledge are essential Judgement to balance commercial debt recovery and compliance risks to achieve positive outcomes Maintains the highest professional standards Ability to build supportive relationships with everyone across the firm Excellent communication and leadership skills with an ability to influence at all levels Excellent organizational skills Able to multi-task, manage time effectively and keep calm under pressure