EFC Tanzania is a Microfinance Bank that provides financial services i.e. taking deposits and providing loans to micro, small and medium-sized enterprises and individuals. The bank is growing fast with the focus of reaching out to the unbanked business by growing its network throughout Tanzania in the coming years. To accomplish this, the bank needs to recruit Loan Recovery Manager who is competent, analytical, experienced and hardworking individuals determined to go extra mile for their career growth and future.
LOAN RECOVERY MANAGER
Nature and Scope:
The Loan Recovery Manager is primarily responsible to effectively lead and manage the EFC delinquent loan collection and recovery operations. In addition, s/he leads and supports the effective and efficient review, verification and analysis process for all loans in arrears to ensure appropriate recovery strategies are developed and implemented.
Key Responsibilities
The Loan Recovery Manager is primarily responsible to effectively lead and manage the EFC delinquent loan collection and recovery operations. In addition, s/he leads and supports the effective and efficient review, verification and analysis process for all loans in arrears to ensure appropriate recovery strategies are developed and implemented.
• Manage and monitor all loans in arrears together with the performance of the Recovery Team;
• Ensure recovery management with the highest level of pervasive professionalism through the application of EFC recovery activities protocols and proper department networking and skip tracing methods;
• Initiate plans for recruitment, training and development of Loan Recovery Officers in accordance with the Company’s credit risk profile and make recommendations as appropriate to the Human Resources Manager;
• Develop, maintain and monitor an external network of recovery partner specialists (i.e. from the tender process, through case allocation, performance monitoring and communication);
• Review and ensure application of related lending policies, procedures and internal controls on a regular basis and submit appropriate improvement plans and strategies for consideration and approval as required;
• Ensure achievement of all loan recovery related performance indicators and employment of necessary corrective actions as required;
• Provide departmental status reports as required.
• Monitoring and controlling the performance appraisal of all Recovery Team employees;
• Co-ordinating and supporting staff development, coaching and motivation to enhance skills and knowledge by:
o Regularly reviewing Loan Recovery Officer collection activity reports,
o Regularly reviewing status of delinquent loans in litigation or assigned to external recovery partners (i.e. lawyers, bailiffs, auctioneers etc.),
o Attending, observing and supporting as required loan recovery meetings with customers and guarantors;
• Proactively developing recovery strategies in line with portfolio performance, implementing and communicating change as appropriate;
• Leading and controlling processes, operations and behaviour to ensure all activities remain compliant with standard procedures, regulatory requirements and ensuring the concept of 'Treating Customers Fairly’ is adhered to at all times;
• Driving process improvements within the department to maximise recoveries, mitigate losses and improve efficiencies;
• Assessing the impact on processes from legislative, regulatory and business change and design/implement appropriate solutions;
• Balancing the customer outcome with the Company’s financial and reputational interests when managing customer disputes;
• Developing a strong network within the wider business to ensure that any activities which have an impact upon the Recovery Team and performance are identified and appropriately managed;
• Raising the profile of the Recovery Team within the business through sharing of best practices, positive and proactive participation in wider business projects and identification of change management or strategic projects for team involvement;
• Performance of any other job related duties and responsibilities as assigned by the CD.
Qualifications & Requirements (i.e. education, skills and experience)
The Loan Recovery Manager requires good practical knowledge of loan recovery best practices in the financial services sector and the foresight to see how the related intricate day-to-day activities link with and support the achievement of the vision and mission of the EFC. In this regard, specific qualifications and requirements include:
• University Degree in business related studies;
• Five years relevant middle management experience in a financial institution;
• Good knowledge of credit and loan recovery systems;
• Good leadership, management and team building skills;
• Excellent planning, organisational and problem solving skills;
• Ability to manage multiple priorities and deadlines;
• Excellent oral and written communication skills;
• Strong computer skills (Word, Excel, Power Point, database etc.).
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Qualifications & Requirements (i.e. education, skills and experience)
The Credit Manager should absolutely have good practical knowledge of credit portfolio management in the financial services sector and the foresight to see how the intricate day-to-day credit related activities link with and support the achievement of the mission and vision of the EFC. In this regard, specific qualifications and requirements include:
• Bachelors Degree in Business Management or Finance/Economics;
• A minimum of three-five years’ experience lending to entrepreneurs in the micro and small enterprises sector;
• Ability to manage multiple priorities and deadlines;
• Excellent planning, organising and problem solving skills;
• Excellent interpersonal skills with a strong customer service orientation;
• Good leadership, conflict management, negotiation and team building skills;
• Excellent oral and written communication skills in English.
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