Job Title: Collections and Recoveries Officer
Organisation: I&M Bank Uganda
Duty Station: Kampala, Uganda
Reports to: Manager Collections and Recoveries
About Organisation:
I&M Bank is a leading banking and insurance group in Eastern Africa with a presence in Kenya, Mauritius, Rwanda, Tanzania and Uganda. I&M Bank Uganda is a commercial bank headquartered at Kampala Road plot 6/6A with a growing regional presence. The Bank offers a wide range of commercial banking and financial products and services, and prides itself on introducing innovative products and services based on the needs of its customers.
Job Summary: Responsible for the collection of debts prior to legal recovery proceedings commencing, negotiating payments/payment arrangements, handling debtor enquiries and provides administrative assistance to the team.
Key Duties and Responsibilities:
- Review the delinquent files thoroughly to ascertain the causes of the default and recommend remedial action, within pre-determined policy rules and laid down strategies.
- Recommend accounts to be transferred to external lawyers an outsourcing of a debt.
- Advise and organize customer -bank meetings for accounts that are out of order.
- Make recovery or demand calls to defaulting clients and document details
- Issue demand and default notices to the defaulting clients.
- Submit weekly reports on accounts in portfolio to Team Leader Collections & Recoveries.
- Prepare and submit recovery call reports on a weekly basis.
- Prepare settlement and payment memos for clients and services providers
- Visit collaterals, business premises of defaulting clients and prepare collateral visit reports
- Prepare remedial requests from defaulting clients and update the facility documentation and securities.
- Update all clients’ files with the relevant recovery efforts and respond to customer complaints.
- Carry out revaluation of properties before disposal and work with external collectors to recover from defaulting clients.
Qualifications, Skills and Experience:
Minimum Education Qualification:
- Bachelor’s degree in finance, Business, Accounting or Commerce or its equivalent
- Professional Accounting Qualification is an added advantage.
Work Experience:
- A minimum of 3 years’ experience in Credit operations mainly collections and recoveries.
Required Competencies (Knowledge, Skills & Abilities):
- Interpersonal
- Patience and resilience
- Relationship Management
- Negotiation
- Familiarity with state debt collection laws
- Knowledge of payment plans and accounting procedure.
How to Apply:
All suitably qualified and interested applicants should apply online at the link below.
Deadline: 5th January 2025 by 5pm
Note: Only shortlisted candidates will be contacted
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