JOB DESCRIPTION
Job Title: | Debt Recovery Assistant |
Status: | Fixed Term Contract |
Location: | Nairobi |
Reporting to: | Debt Recovery Officer |
Department: | Credit |
Position Supervises: | None |
Job Purpose:
The Debt Recovery Assistant is responsible for contacting delinquent members, negotiating repayment terms, and ensuring compliance with internal policies and regulatory requirements to effectively manage and recover overdue loans from members.
Duties and Responsibilities:
Debt Recovery Management:
- Contact delinquent members via phone, email, or in person to discuss overdue loans
- Negotiate repayment plans and arrangements tailored to members’ financial situations
- Monitor repayment schedules and follow up with members to ensure adherence to agreed-upon terms
Documentation and Reporting:
- Maintain accurate and detailed records of all interactions with delinquent members
- Prepare and submit regular reports on recovery progress, including updates on outstanding debts, collections made, and recovery rates
Customer Service and Member Support:
- Provide prompt and courteous assistance to members facing financial difficulties
- Address member inquiries related to loan repayment options, schedules, and terms
- Act as a liaison between members and other departments to facilitate resolution of issues
Collaboration and Communication:
- Collaborate effectively with colleagues within the debt recovery team and across departments
- Communicate updates and progress on recovery efforts to management and relevant stakeholders
- Coordinate with external debt collection agencies or legal counsel as necessary to escalate recovery efforts
Compliance and Risk Management:
- Ensure compliance with internal policies, procedures, and regulatory requirements throughout the debt recovery process
- Adhere to ethical standards, guidelines and the staff code of conduct in all interactions with members and stakeholders
- Identify and report potential risks or issues that may impact loan recovery operations
Continuous Improvement:
- Participate in training sessions and workshops to enhance debt recovery skills and knowledge
- Contribute ideas and suggestions for process improvements and efficiency gains within the debt recovery function
- Stay updated on industry trends and best practices in debt collection and member assistance
Any other duties as may be assigned from time to time
Job Specifications:
Education
- A Diploma in Finance, Business Management or any other related field
Minimum Experience
- 2 years work experience in debt recovery, collections, or customer service roles within a financial institution or similar organization
Competencies and Desires Attributes
- Strong negotiation and communication skills, with the ability to interact effectively with members and stakeholders
- Attention to detail and accuracy in documentation and reporting
- Knowledge of regulatory requirements and best practices in debt recovery and member assistance
- Ability to work independently and as part of a team in a dynamic and fast-paced environment
- Proficiency in MS Office (Word, Excel, Outlook) and familiarity with CRM systems is a plus