Job Purpose:
The Manager - Remedial minimizes financial losses by proactively overseeing overdue and defaulted accounts. He/ She develops and executes effective remedial strategies, negotiates viable payment solutions, and collaborates closely with collection function and legal affairs department to ensure comprehensive delinquency management. The Manager - Remedial aligns recovery efforts with the bank’s financial goals, enhancing debt recovery efficiency and safeguarding the institution’s financial health.
Key Accountabilities:
- Leads, mentors, and manages the Remedial team to align with remedial goals, fostering a results-oriented environment and providing guidance, training, and support to enhance team performance and morale.
- Executes the robust remedial strategies aimed at maximizing debt recovery while preserving customer relationships and supporting a positive client experience.
- Continuously evaluates the performance of the Remedial function, identifies opportunities for improvement, and implements changes to boost operational efficiency and effectiveness.
- Ensures all remedial activities comply strictly with banking regulations, industry standards, and legal requirements, safeguarding the bank from regulatory risks.
- Monitors customer accounts and financial records proactively to identify irregularities and high-risk accounts, assessing and mitigating risks associated with non-performing loans.
- Negotiates complex payment plans, restructures, and settlements personally with clients in financial difficulty, balancing recovery objectives with client goodwill.
- Oversees the maintenance of accurate, up-to-date records of all customer interactions and financial transactions, ensuring data integrity and transparency.
- Generates comprehensive reports on delinquency rates, recovery metrics, and remedial performance, providing actionable insights and recommendations to the Head of department.
- Resolves disputes with a focus on achieving both customer and Bank’s satisfaction, reducing potential escalation or legal action.
- Educates Remedial staff on related compliance, financial responsibility, and customer-centered approaches, fostering a knowledgeable and compliant team.
- Collaborate effectively with control function departments, Operations and Business, ensuring a unified approach to handling complex cases.
- Recommends the Remedial Department's budget and resources to the Head of Department, aligning expenditures with functional objectives to maintain operational efficiency.
Qualifications and Experience:
- University or College diploma in finance, accounting, or a related field.
- A professional certificate in Remedial and Collection (e.g., CCCP, CCS, CPDC) is desired.
- Minimum of 6 years of experience in Remedial and Collection in a bank.
- Proven leadership experience in a remedial role within the banking or financial sector.
- Strong knowledge of local banking regulations, financial compliance, and remedial strategies is preferred.
** Applications will be accepted until 24-Nov-2024
Submissions received after this date will not be considered **