Collection Manager job at Financial Institution
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62 Days Ago
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Vacancy title:
Collection Manager

[ Type: FULL TIME , Industry: Business Management and Administration , Category: Management ]

Jobs at:

Financial Institution

Deadline of this Job:
Thursday, September 26 2024 

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

Summary
Date Posted: Thursday, September 12 2024, Base Salary: Not Disclosed

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JOB DETAILS:
Key Duties and Responsibilities:
1. Debt Recovery Strategy:
• Develop and implement effective debt recovery strategies to optimise the recovery of outstanding debts.
• Oversee the issuance of demand letters, filing of legal claims, and enforcement of judgements for debt recovery cases.
• Collaborate with internal collections teams and external agencies to ensure the timely resolution of debt recovery matters.
• Negotiate settlements, payment plans, and other recovery agreements with debtors.
• Monitor and report on the performance of debt recovery efforts, identifying and addressing challenges in the process.
• Reviewing the company debtor list and advising team members on how to manage or collect the debts.
• Leading the team and training them on how best to talk to customers and informing them of their overdue bills.
• Advising customers on their payment options and suggesting methods of payments.
• Making reports and Maintaining customer payment recovery.
• Instituting legal action when customers fail to pay their debt.
• Responding to customer queries.
• Provide legal advice to internal stakeholders on matters related to credit risk, collections, and dispute resolution.
• Draft and review legal agreements, contracts, settlement agreements, and other relevant documentation.
• Ensure that all legal actions and recovery efforts comply with internal policies, industry regulations, and best practices.
• Keep the organization updated on relevant legal developments and changes in debt recovery laws and regulations.
• Minimize losses while cost effectively estimating probability of successful recovery and implementing decisions on a course of action.
• Maintain telephone and direct contact with borrowers and guarantors according to established guidelines and standards to ensure prompt payment.
• Manage collection efforts with a high level of persuasiveness & professionalism.
• Maintain positive customer relationship and minimize bad debt exposure.
• Using the verbal skills and communication techniques taught to manage people to the point public opinion remains in favour of our clients.
• Support the credit officers in the collection activities.
• Record information about financial status of borrowers and status of collection efforts.

REQUIREMENTS:
• Bachelor’s degree in Economics, Business Administration, Finance, Law, or any related field
• Proven experience in debt recovery for micro-finance, Bank or a related field is added advantage.
• Full Grade twelve school certificate.
• Excellent communication and interpersonal skills.
• Strong problem-solving abilities and attention to detail.
• Ability to handle sensitive situations with empathy and professionalism.
• Ability to maintain field and office duties
• Proficiency in using Microsoft Windows and office software and other relevant tools.
• A proactive and results-driven mindset.
• Knowledge of credit policy/procedures and governance, and regulatory requirements related to Debt Recovery management

Key Competencies:
• Litigation Expertise: Strong understanding of legal processes, court procedures, and dispute resolution strategies.
• Debt Recovery Skills: Proven experience in developing and executing debt recovery strategies, including settlements and enforcement actions.
• Risk Management: Ability to identify and mitigate legal risks related to litigation and debt recovery.
• Communication: Strong verbal and written communication skills, with the ability to convey legal concepts clearly to non-legal stakeholders

Job Experience: No Requirements

Work Hours: 8


Experience in Months:

Level of Education:
Bachelor Degree

Job application procedure
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Job Info
Job Category: Management jobs in Zambia
Job Type: Full-time
Deadline of this Job: Thursday, September 26 2024
Duty Station: Lusaka
Posted: 12-09-2024
No of Jobs: 1
Start Publishing: 12-09-2024
Stop Publishing (Put date of 2030): 12-09-2066
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