The Associate, Retail Collections is responsible for ensuring the Retail Business meets its credit objectives through monitoring account performance and managing late repayments and arrears. The role aims to maintain delinquency rates within the Bank's stipulated acceptable levels.
Key Responsibilities
Day-to-Day Collections and Recoveries
Monitor allocated accounts daily and institute timely corrective measures to avoid delinquency.
Contact clients in default to ensure repayments are received.
Ensure the set collections targets and flow rates are met.
Implement strategies and methodologies to reduce the volume of past-due accounts and write-offs.
Update collections systems with all client discussions and follow up according to agreements.
Recommend restructures where needed.
Follow up with collection agencies and process instructions on a timely basis (where applicable).
Account Monitoring and Process Improvements
Analyze settled debts and recommend closure of the accounts.
Highlight credit failures to provide lessons learned for improving the credit approval process.
Maintain Management Information Systems (MIS) related to account performance and escalate trends for policy changes and product development.
Review processes within collections and recoveries to identify risk and opportunities to streamline operations, service delivery, and minimize losses.
Work with solicitors during the litigation process to ensure optimal collections and recovery with minimal cost to the bank.
Recommend improvements to the collections systems.
Decision Making and Accountabilities
Directly impact the bank's financials through collections and recoveries.
Recommend accounts for restructuring and write-off.
Highlight weaknesses in policies and processes.
Act as the first level of contact for credit failures to inform future approval processes.
Compliance and Other Duties
Ensure legal, regulatory, and Bank policy and procedure compliance throughout the process.
Undertake other duties as assigned from time to time.
Requirements and Experience
Minimum of three (3) years of continuous experience in a debt management, collections, or recoveries role, preferably within a banking or financial services institution.
Bachelor’s degree in Finance, Business Administration, Accounting, Economics, or a related field.
Strong understanding of credit policies, debt collection practices, and regulatory compliance within the financial sector.
Skills and Competencies
Good business communication (written and verbal) skills.
Strong negotiation and interpersonal skills with the ability to interact with all levels of personnel.
Proficiency in computer usage (MS Office and relevant banking software).
Strong problem-solving and analytical skills.
Good judgment and decision-making skills.
Ability to work independently with minimal supervision.
Ability to handle large volumes of work.
How to Apply
Interested and qualified candidates should apply online through the I&M Bank career portal on BambooHR. Use the following link to submit your application: I&M Bank on imbank.bamboohr.com
How to Apply
Interested and qualified candidates should apply online via the official recruitment link at https://www.myjobmag.co.ke/apply-now/1190830 which redirects to the I&M Bank BambooHR platform.
