Position Overview \u2013 Collections Officer
\nThe Collections Officer is responsible for identifying, evaluating and monitor non-performing loan accounts and implement effective recovery strategies that ensure timely and maximum repayment at minimal cost and optimal turnaround time. The role entails ensuring compliance with the company\u2019s policies, managing collateral to mitigate risk, and implementing effective strategies to maximize loan recoveries. This position requires a proactive and detail-oriented professional with excellent negotiation and communication skills.
\nKey Responsibilities
\nLoan Recovery Management<\/p>\n
Monitor and manage the collection of overdue Personal & business loans in line with company policies and regulatory guidelines.
\nLocate and notify delinquent borrowers and guarantors via personal visits, phone calls, or written communication to solicit repayment or initiate collateral seizure.
\nNegotiate payment plans and settlements, ensuring that they are feasible for the borrower and beneficial to the company.
\nExecute collection efforts with tact, persuasion, and professionalism.
\nLiaise with bailiffs, auctioneers, and other recovery agents; provide timely updates to management on assigned cases.
\nEscalate complex cases to the Risk and Recoveries Manager for further action.<\/p>\n
Collateral and Risk Management<\/p>\n
Evaluate and manage collaterals to minimize risks associated with loan defaults.
\nVerify the status and condition of pledged collateral and take appropriate actions as per recovery procedures.
\nCollaborate with the Collections Manager and legal to execute repossessions, liquidations or other recovery strategies when necessary.<\/p>\n
Reporting and Documentation<\/p>\n
Maintain accurate records of all collection activities, including communications with clients and recovery outcomes.
\nMaintain a detailed recovery activity diary in Excel, tracking deadlines such as demand notice expiry, auction dates, and more\u2014shared regularly with branch and recovery management.
\nPrepare periodic reports detailing recovery\/ collection progress, challenges and proposed strategies.<\/p>\n
Stakeholder Collaboration<\/p>\n
Work closely with the Credit and Collections Manager to align on recovery strategies and performance targets.
\nLiaise with Finance, Sales, Products, and Credit teams to address account issues and improve loan quality.
\nProvide insights and recommendations to improve credit assessment and reduce delinquency rates.<\/p>\n
Qualifications and Experience<\/p>\n
Grade 12 certificate with a minimum of credit in English and Mathematics.
\nDiploma or Degree in Banking & Finance, Economics, Business Administration, or related field.
\nMinimum 2 years of experience in debt collection and credit risk management within a Non-Bank Financial Institution or Microfinance Institution.
\nAdditional certification in Credit Management or Debt Collection is a strong advantage.
\n2\u20133 years of experience in banking operations, particularly in credit, lending, or collections will be an advantage
\nKnowledge of credit risk management and collateral evaluation.
\nFamiliarity with financial regulations and recovery procedures in Zambia.<\/p>\n
Skills and Competencies<\/p>\n
Strong negotiation and conflict-resolution skills.
\nExcellent interpersonal, communication abilities and emotional intelligence
\nAnalytical thinking and problem-solving capabilities.
\nProficiency in using loan management systems and Microsoft Office tools.
\nAttention to detail and ability to handle sensitive information with confidentiality.
\nHigh Levels of integrity
\nAbility to remain composed under pressure.<\/p>\n
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