A leading Bank in Nigeria is seeking to fill the above position with suitable and qualified persons.
- Grade/Career Levels (EA, SEA, BO)
- Reports to Team Lead, Collections and Recovery
- Ensure recovery and possible restructuring of Commercial Bank loans
Specific Roles and Responsibilities
- Ensure all budgeted items are not exceeded
- Undertake regular and frequent calls, site visits, follow-ups to implement remedial strategies and action plans agreed with Team Lead, Challenged Assets & Recovery.
- Initiate demand and reminding letters to all defaulting customers and review all credit files for proper documentation and monitoring.
- Obtain background information on all accounts assigned to the Challenged Assets and Recovery Team and especially customer information etc…
- Follow up on major debtors accounts assigned to ensure recoveries through calls, demand notices or any other appropriate means.
- Monitors Recovery Agents to ensure accounts assigned to them are fully recovered.
- Prompt identification of unauthorized balances and follow up with branches on early warning and remedial action on newly created PDOs in the branch.
- Monitoring and Recovering of PDO’s /Expired CMB loans in the branches.
- Recovery of fully provisioned or written-off credit exposure and rehabilitate other impaired credit.
- Ensure that properties, equipment and inventories hold by the bank are properly insured.
- Recommend accounts for classifications and declassifications and accounts to be written-off with justification.
- Daily call memo and progress reports on negotiations with debtors in respect of repayment of indebtedness.
- Negotiations/meetings with customers who want loan work out options such as refinancing, rescheduling and restructuring
- Preparation of approval requests to management for negotiated settlements and follow up until account is fully settled and the balance written off.
- Follow up on sale of securities deposited for collateral alongside the legal department after other remedial strategies have been exhausted
- Follow up on release of security documents for NPLs which have been fully regularized
- Preparation and recommendation of strategies for recoveries on major assigned accounts to the Team Lead.
- Collection on accounts assigned at the beginning of the year to ensure full repayment.
- Give priority attention to regularize outstanding legal and documentation issues on assigned portfolio.
- Liaise with external solicitors to ensure that cases referred to them for legal action are handled with efficiency.
- Motivate, share ideas and provide on-the- job training for Remedial Management team
Key Performance Indicators:
- Percentage of budgeted collections
- Percentage of budgeted recoveries
- Percentage increase in recovery Agents Collection
- Exceed Customer Expectation
- Response Time to Deadlines,
- Effective operational
- Discipline/supervisory skills.
- Percentage effectiveness of interpreting and implementing strategy to achieve departmental goals
- Grow Market Share Percentage of negotiated settlements achieved and concluded
- Share Percentage of big ticket PDOs of N100 million and above successfully resolved
People Training and Development
- Attend 3 Internal/External training programs.
- A Good University degree with a minimum of 2:2 or HND with a minimum of 2:1 in any discipline)Bsc, MBA
- Minimum of 2 Years relevant Banking Experience
- Interpersonal skill
- Leadership / Supervisory
- Analytical/problem solving skill
- Computer appreciation (word- processing/Spreadsheet/PowerPoint)
- Excellent customer service orientation
- Database Management
- Strong knowledge of banking operations, products and customer segmentation
- Strong knowledge of commercial business
- Good knowledge of Foreign exchange related issues
Personalities and attributes
- Paying attention to details
- Positive “can do” attitude
- Goal driven and result oriented.
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