Analyzing/profiling delinquent accounts with aim of determining the minimum acceptable amount for negotiation with customers
Liaise with the Business unit and develop a strategy for recovery such as restructuring, rescheduling/work out
Arranging meetings with debtors towards fashioning an acceptable repayment plan between debtor-customer and Bank.
Based on customer request, prepare a proposal to management for interest waiver or concession in accordance with the board approval grid
Communicate management decision to customer and follow up with telephone and personal visit to ensure the approved concessionary sum are paid within the time frame
Periodical review of already approved settlements to ensure they perform according to approval
Ensure residual balances are written off after the debtor-customer has paid the approved concessionary sum within the time frame, issue of non-indebtedness letter, and update the customers status on the credit Bureau
Assign accounts to external agents, monitor their performance and manage their relationship with our customers and pay their commission on recovery according to approved guidelines.;
Compilation of information on delinquent accounts for discussion at credit review;
Liaise with appropriate external bodies including law enforcement agencies and EFCC for effective and timely recovery of the debt;
To recover non-performing loans and help maintain a comfortable NPL ratio for the Bank.
Allocation/Assigning accounts to collection agents/auctioneers
Processing Debtors request for interest waiver, reinstatement of lapsed concession, and extension of the validity period of lapsed concession to the management.
Convey management approval to branches for implementation and obtain from branches that decisions have been implemented.
Confirmation on the Banks standard form for the release of title documents that payment has been made in accordance with management approval and then pass on to the RM & C Department.
Compliment Relationship Managers efforts in the recovery of any delinquent account referred to us by the work-out unit of the Risk Management Department.
Liaising with Credit Portfolio management for the write-off of residual balance in line with management approval.
Requirements
Minimum academic qualification of a First degree in any discipline from a reputable academic institution
5 years of work experience
Credit appraisal
Interpersonal relationship
Excel proficiency- intermediate
Basic law guiding foreclosure/liquidation of securitized assets
Awareness of Local and Global Business Trends
Knowledge of Basic Credit Analysis procedures
Knowledge of Prudential Guidelines and other related regulations
Knowledge of Law Enforcement Procedures
Relating to bad credits
Basic knowledge of contractual implications.
Credit analytical skills
Good listening/negotiating skills; Analysing customer accounts
To determine steps towards the realization of pledged securities
Understand customers business and profer remedial solution
Ability to negotiate and persuade
Account analysis and computation
Microsoft Word, Excel, and PowerPoint competencies.
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