To qualify for this post, one must have the ability to:
- Exercise resourcefulness and ingenuity in gathering needed information from a wide variety of sources.
- Establish effective rapport with debtors, responsible relatives and other parties to obtain information and elicit cooperation.
- Independently evaluate information and initiate action within prescribed guidelines.
- Establish and maintain accurate records and files.
- Understand, apply and explain pertinent laws and procedures concerning collections and the seizure and sale of personal property.
- Compose correspondence.
- Make arithmetic computations.
- Communicate effectively in oral and written form.
- Negotiate agreements and settlements within established guidelines.
Key roles and Responsibilities
- Control delinquent loan payments and recovery of non-performing loans.
- Timely and effectively contact delinquent clients.
- 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 honor 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.
- Work closely with external agencies on debt collection and recoveries.
- Ensure all demand letters are duly and timely issued and clients are informed of the steps to be taken.
- Adhere to the set policy on loan recoveries and collections.
- Send reminder messages to clients on their loan payments.
- Perform any other related function as assigned to by the management from time to time.
Required Skills & Qualifications
- A diploma in business related course or equivalent
- Good negotiation and communication skills
- Full knowledge of retail clients’ products
- Good computer skills especially knowledge of excel and Microsoft Word
- Strong analytical, relationship skills and attention to detail