Job Title: Senior Officer, Debt Recoveries
Employer: Stanbic IBTC Bank Plc
Parent Company: Standard Bank Group
Sector: Banking and Finance
Job ID: 11712
Location: Lagos, Nigeria
Division: Group Risk Management
Position Category: Credit
Employment Type: Full Time – Permanent
Shift: No
Regulatory Approval: Yes
Main purpose of the job: Control and manage the administration of all recoveries (in-house and outsourced matters)
Key responsibilities:
• Effective management of recoveries on 180dpd & written off accounts in line with specialised recoveries strategies and after write-off strategies.
• Manage external agencies in line with approved SLAs.
• Action incoming correspondence within agreed timelines.
• Issue repossession orders as advised by relevant stakeholders.
• Maintain an accurate register of all repossessed items.
• Keep accurate records and control movement of files between the Bank and external agencies.
• Ensure written off accounts are blacklisted on all credit bureaux.
• Coordinate the asset disposal process end to end.
• Ensure file closure of irrecoverable accounts in line with approved processes.
• Ensure compliance with statutory, regulatory and SBG requirements, to protect the reputation of the Group and to avoid legal action/sanction in respect of regulatory compliance matters.
Key performance measures:
• Recoveries metrics as agreed in KRAs.
• Collections rate on NPL book as agreed in KRAs.
• NPL not to exceed 10% of total book.
• Accurate capture and follow up of payment plans.
• Monthly stock checks.
• Monthly reporting on all recovery activities (in-house & outsourced).
• Incoming correspondence actioned within 48 hours.
• Annual review of closed files.
Important relationships:
Internal: Develop and maintain working relationships with all internal stakeholders.
External:
• Excellent customer service.
• Manage and maintain relationships with external agencies to achieve desired results.
• Required Skills and Qualifications
• Knowledge, experience and personal competencies
Knowledge:
• Sound knowledge of relevant statutory legislation and all legal procedures
• Sound knowledge of Bank's products.
• Branch network knowledge.
• Minimum of a first degree in social sciences.
Required Competencies:
Experience: 6 years experience in debt collections.
Personal competencies:
• Communications skills
• Conflict management skills
• Negotiation skills
• Team work and cooperation
• Good reporting skills
• Sound judgement abilities
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