Assistant Manager-Collections & Recoveries job at LOLC Finance Zambia Limited
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Vacancy title:
Assistant Manager-Collections & Recoveries

[ Type: FULL TIME , Industry: Accounting , Category: Management ]

Jobs at:

LOLC Finance Zambia Limited

Deadline of this Job:
Tuesday, December 26 2023 

Duty Station:
Within Zambia , Lusaka, South - Central Africa

Summary
Date Posted: Wednesday, December 20 2023, Base Salary: Not Disclosed

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Learn more about LOLC Finance Zambia Limited
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JOB DETAILS:
Overall Objective: The overall objective of this role is to identify, evaluate and monitor the non-performing loan accounts and implement a recovery action plan to achieve timely and maximum recovery at a minimal cost and appropriate turn-around time

Job Responsibilities;
• Monitor delinquent loans facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within pre-determined credit policy guidelines and regulation to minimize credit losses;
• Prepare and submit loans ageing analysis, schedule and related reports of the overdue and repayment for all credit facilities and follow up with the defaulted borrowers on recoverability of outstanding arrears or loan balance;
• Develop appropriate and effective payment plans with defaulting clients and making sure that such clients pay according to the plan;
• Identify root causes of defaults and make recommendations for process improvement as and when appropriate;
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring;
• Maintain and prepare weekly and monthly collections reports, updates and status on the recoveries to the Supervisor;
• Undertake regular and frequent calls, site visits, and follow-ups with the defaulters to implement remedial strategies and action plans for loan recovery;
• Pass on difficult debtors at appropriate time to legal department;
• Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options;
• Ensure compliance to LOLCFZ’s Credit Policy and Procedures regarding management of debt recovery process;
• Supervise Debt Recovery officers
• Assumes any other responsibilities assigned.

Qualifications;
• Certified grade 12 certificate with a minimum of Credits in English and Mathematics
• Any business-related Diploma or Degree, preferably in Finance and Credit, Banking, Accounts, Economics or Business Administration
• A minimum of 3 years’ of relevant work experience in debt collection and credit risk management in Financial sector
• Background in a NBFI/Microfinance Institution will be an added advantage
• Demonstrate a clear understanding of recovery processes with sound understanding of credit life cycle and debt recovery process/techniques
• Strong analytical skills and Investigative skills to ensure all loan repayments

Work Hours: 8


Experience in Months: 36

Level of Education:
Professional Certificate

Job application procedure
• Please clearly indicate the job title in the subject of your email and use your full name and the job you are applying for as the filename of your application for example, Collections & Recoveries Officer_Aaron_Banda. Applications should consist of your CV and Academic Qualifications. Hand delivered or posted applications will not be accepted. The closing date for accepting applications is 26 December, 2023. Only short listed candidates will be contacted.
• Kindly submit your details to hr@lolczambia.com 

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QUICK ALERT SUBSCRIPTION

Job Info
Job Category: Management jobs in Zambia
Job Type: Full-time
Deadline of this Job: Tuesday, December 26 2023
Duty Station: Lusaka
Posted: 20-12-2023
No of Jobs: 1
Start Publishing: 20-12-2023
Stop Publishing (Put date of 2030): 20-12-2066
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