Recovery Officer – Garissa / Dadaab at Inkomoko

Job Description (adsbygoogle = window.adsbygoogle || []).push({}); Inkomoko’s vision is an Africa with thriving communities where young people and refugees are engaged, communities have access to relevant innovations for self-determination, and where African solutions are unleashed to solve African problems. Founded in , Inkomoko has provided business advisory and access to finance for thousands of entrepreneurs across East Africa. As the largest investor in refugee businesses, we have disbursed more than $6M in capital to more than clients. This affordable finance for Inkomoko entrepreneurs helps them grow their businesses, create jobs, and improve their livelihoods. As we look forward, Inkomoko is developing new ways to engage communities to thrive. Creating meaningful market linkages, expanding to secondary cities, and advocating for economic inclusion, Inkomoko has added these community-based approaches to our enterprise development work. By , Inkomoko will be in 8 countries, serving more than half a million small businesses, creating a positive impact for more than 7 million people across the Continent.About the Opportunity The Loan Recovery Officer’s Key responsibility will be to alert, follow up, and recover defaulted loans by conducting site visits, coordinating with local authorities, 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 solutionsIdentify and escalate repayment irregularities for further management actionPreparation of monthly portfolio report for Management decisionPreparation of weekly portfolio reports for credit review meetingsCompute weekly PAR reports including; product, individuals, and SMES PAR analysisEvaluate product performance through collection and data analysisProvide weekly report on turnover in loan accountsMaintain an effective trigger reporting system of credit impairments and propose corrective actionsProvides support to Loan officers, loan managers, and compliance officers on Non-performing loansCall, visit, and send periodic reminders to loan customers on scheduled repaymentsConduct post-disbursement spot checks on customers to confirm loan performance and utilizationMonitoring defaulters’ repayments to stop recurrent non-complianceMaintain PAR level in compliance with CBK regulationsFollow up with the Finance department to reconcile payments received and real-time transaction postingsResponsible for achieving the monthly PAR targetNegotiate payment plans with defaultersInitiate 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 lossesEnsure compliance with Inkomoko’s Credit Policy and Procedures regarding the management of the debt recovery processMaintain and prepare monthly collections reports, updates, and statusMaintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring optionsUndertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recoveryInitiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoringEnsure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with a lawyerDevelop and continuously review credit and recovery policies and procedures ensuring their compliance RequirementsMinimum QualificationsThe loan Monitoring and Recovery officer will be a trusted partner of Inkomoko clients, and basic qualifications Include: A university degree in Finance, Business Administration, or other related fieldMust speak fluent English, and Somali. Knowledge of other local languages is a plusMinimum of 2 years banking of MFIs experience in a credit monitoring /loan recovery roleKnowledge of MFIs or banking operations, credit risk management, fraud management, Loan Recovery, and Debt ManagementPrior experience dealing with customers/debt collectionDecisive individuals with the ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors to pay off the entire debtComfort with the civil court system, and previous experience in litigation preferredUnrelenting perseverance, personal integrity, and critical thinking skillsMust be able to legally work in Kenya What You’ll GetThis role is inside a high-growth, mission-driven social enterprise. By joining, you’ll access: Competitive salary, and potential KPI-based bonusIncredible company culture, including deep investment in your learning and growthDiverse colleagues and policies that show our commitment to equity and inclusionTalented, passionate, and committed team colleagues across the regionAbility to make a significant social impact on your