Letshego Vacancy – Recovery & Collection Officer

 

 

Letshego Vacancy – Recovery & Collection Officer

Recovery & Collection Officer 

Letshego Tanzania Limited (LTL)

Dar es Salaam

Job Title: Recovery & Collection Officer

Reports To: Recoveries Manager

Purpose of the Job:

The role is responsible for the entire NPL and write-off portfolio management, develop recovery strategies,
appraising and assessing bad debt situations, implement initiatives to minimize credit losses and preparing
of reports to management

Key Accountabilities:

• Regularly review non-performing loans and initiates plans/strategies for recovery of
  those loans.
• Monitor and work closely with external debt collectors.
• Issue demand notice letters on time in adherence of recovering procedures.
• Makes recommendations to Recovery Manager about the likelihood of recovering
  loans and whether legal action will be required.
• Responsible for maximizing recoveries from written off accounts and making daily
  reports about the same.
• Work with the Recoveries Manager and the Collection Manager to locate, identify
  and seek contact with defaulters and remind them of their obligations and/or discusses with
  them how to serve the outstanding loan.
• This shall involve a re-analysis of the defaulters’
  financial status followed by a comprehensive agreement with the customer on a
  rescheduled repayment plan.
• Work with the Recoveries Manager and the Collections officer to identify old loans
• Compile all required periodic Loan recovery reports for your portfolio
• Ensure strict and continuous follow-up the outstanding portfolio by checking the
  daily updated arrears list.
• Ensure that records of all loans paid off are properly filed and securities are delivered
  to legitimate owners.
• Attend and actively participate in recovery forums facilitated by the Recovery
  Manager
• Make follow up with external collectors to ensure that impounded/recovered
  monies/items are not misused by debt collectors.
• Present non-performing cases to the Recovery Manager to be re-allocated to active
  collection firms.

Key Accountabilities Continues:

• Assist/guide the branch and the rest of the recovery team on loan recovery
  procedures to protect company from legal suits.
• Develop relationships with the police, local administration and other government
  agencies necessary to support collection.
• Work with the Recovery Manager and the collections officer to oversee disposal of
  recovered assets if available.
• Actively participate in own related training activities in the branch and the
  organization at large;
• Actively participate in performance management discussions and work closely with
  the Recovery Manager and Collection Manager in ensuring that respective performance
  targets are achieved;
• Be self-disciplined and conflict averse, maintaining open and fare communication
  and engagement with team members;
• Manage own time and attendance and ensure effective leave utilization.
• Adhere to all Company Policies

Thinking Requirements and Working Complexity:

• An in-depth knowledge of Collections environment and an understanding of the factors
  affecting it.
• A detailed knowledge of performance measures and financial acumen
• Good & Detailed understanding of relevant statutes and laws where applicable in
  lending and collections procedures.
• Good working knowledge of the IT and telephony systems used by the department is
  essential.
• Prior experience in a lending environment
• Networking influence: ability to build lasting and relevant formal and informal
  networks inside and outside the organization.
• Communication finesse: Engage all levels of internal/external clients and deliver oral
  and written communication confidently and clearly in business language with great
  impact and/or persuasion.
• Integrity: Morally upright exercising sincerity, honour and honesty at all time

Knowledge and Experience Required

• Bachelor of Commerce degree with a specialization in Finance or Accounting(or an
  equivalent qualification).
• A minimum of 2 years’ experience in hands-on late-stage collections in banking industry
  or a financial institution and Advanced knowledge of MS Excel.
• Knowledge of Corporate Governance and Credit Risk Management.
• Capability of progressive leadership and development of a collections team.
• Excellent written and verbal communication capabilities

How to Apply

Interested and qualified applicants are requested to submit their application and Cv explaining why
they are the best fit for the position by 1st May 2024through the email: tz.human.resources@letshego.co.tz

Disclaimers: This advert is not an in-depth list of all duties and responsibilities associated with the
position.

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