Credit Administration and Loan Recovery Officer
Jubilee-Life Mortgage Bank
Accounting, Auditing & Finance
Skills Required
Competency: Knowledge of financial accounting and auditing processes. Knowledge of managerial accounting Knowledge of banking regulatory guidelines. Knowledge of the banking industry. Knowledge of a Mortgage Bank’s structure operations policies and procedures. Knowledge of Risk management. Skills: Computer Appreciation Skills (Ability to work with word processing Spread sheet applications). Compliance monitoring. Quality Control/Assurance Skills. Operational and management research skills Forecasting Project management skills Data collection and analysis Business process analysis Technical report writing skills Candidate Abilities & Personality Profile Analytical Skills Attention to Detail Business Acumen Oral Communication Report Writing Skills Probing Skills Planning and Organising Presentation Skills Interpersonal Skills Developing Others Dealing with Change and Uncertainty Decision Quality and Problem Solving Technical Learning Conflict Management Managerial CourageJob Summary
You will analyze all credit proposals in order to carry out risk identification, risk measurement and risk mitigation with a view to creating performing assets and assuring profitable lending for the Bank. Additionally, you will assist in the provision of legal services with respect to loan recovery in the Bank.
- Minimum Qualification : Degree
- Experience Level : Mid level
- Experience Length : 4 years
Job Description/Requirements
Responsibilities:
General Administration of Debt Recovery:
- Responsible for the collection of debt prior to legal proceedings commencing, negotiating payments/payment arrangements, handling debtor inquiries, and providing administrative assistance to the team.
- Identify, manage, and recover unpaid debts from borrowers whose obligation has fallen due for 90 days and above
- Coordinate the management of all accounts prudentially classified as doubtful and lost and ensure that they are restored to performance until fully paid off.
- Contact customers with outstanding debts irrespective of their prudential classification in line with policy and procedures
- Write a letter of demand to all borrowers in the above category
- Embark on on-site visits to the houses and business premises of the borrowers
- Devising special-purpose recovery strategy on a case-by-case basis.
- Prepare debt analysis to justify the full and final settlement of a delinquent loan.
- Isolate all the delinquent loans and proffer strategies to close them out including assigning them to external solicitors and ultimately instituting legal action against the debtors
- Write well-articulated letters and proposals to the EXCO justifying the need to either assign and/or charge a customer to an external solicitor or a court respectively.
- Communicate daily due of loan repayment to all Branch Heads daily.
- Assigning accounts to external solicitors with adequate justification
- Preparation of justification write-up for waivers and concessions
- Develop strategies for the timely recovery of all assets and doubtful and lost.
- Assist the Business units in the recovery and management of all impaired assets to ensure such accounts are brought back to performing status.
- Review customer’s requests for restructuring repayments in respect of impaired assets and make recommendation on same to the appropriate departments in the Bank.
- Generate reports on non-performing and bad accounts.
- Update the database with information obtained from the status report on loan recovery activities
- Analyze previous recovery rates to aid in the estimation of the provisions needed for bad/doubtful debts.
Credit Administration:
- Review, analyse and process customers’ requests on loan matters and make appropriate recommendation based on the merits of each case.
- Identify high-risk credit transactions and step them down promptly step them down if they cannot be appropriately mitigated.
- Work with other departments to ensure completeness of documentation to safeguard the Bank’s position.
- Manage and assist market facing Business Units in credit structuring transaction and provide general and legal advice and interpretations on credit policy.
- Participate in various credit process transformation projects, credit product development, and credit policy formulation to ensure alignment with the Bank’s objectives and goals.
- Deposit mobilization and creation of risk assets.
NHF Recovery:
- Simulate debt position for each NHF customers that falls in the following categories: Customers whose loan was not booked on the CBA and Customers with loan account on which interest has been stopped.
- Determine and recover all recoverable fees incidental to NHF processing owed by NHF customers
- Maintain a special recovery report of NHF(Monthly)
- Determine the NPL ratios of NHF per estate (Monthly)
- Maintain and update the global manifest of NHF in strata of batches on an Estate-by-Estate basis.
Management and Recovery of Receivable:
- Ensure effective recovery and management of receivables due to the bank.
- Monthly preparation of reports on the collection made on receivables.
- Monthly update of receivables on the following projects: His Grace Pavilion-FCT Abuja, Ojokoro Shops- Lagos, NTA Shops- Lagos, Ata -Isi, Calabar, Others
Reporting:
- Generate monthly report on the movement of accounts with the prudential categories
- Generate an activity report to feature the following: Account number, Account name, Loan type, Branch, Amount granted, Amount outstanding, Outcome of recent activities, Future plan
- Maintain a schedule of accounts under litigation.
- Monthly updates of the DBN Loan Schedule
- Monthly updates and recommendations on the RHS Loan Schedule
- Monthly, quarterly, and annual reports on staff loan
- Monthly report on the account assigned to solicitors irrespectively of their litigation status
- Monthly recovery report
- Alert Branch Heads on account that less than 60 days to expire
- List of accounts and age their analysis
- Generate reports on Nonperforming and bad accounts
Requirements:
- 4 years experience
- Degree in a related field
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