Several Debt Recovery Officer Job Opportunities – UGAFODE Microfinance Limited (MDI)
Job Title: Debt Recovery Officer (Several Job Opportunities)
Organisation: UGAFODE Microfinance Limited (MDI)
Duty Station: Kampala, Uganda
About US:
UGAFODE Microfinance Limited (MDI) is a registered financial institution in Uganda and is adherent to the Central Bank’s regulations and guidelines and was founded in 1994 to provide quality microfinance services.
Job Summary: The Debt Recovery Officer will be responsible for proactive management of borrowing accounts showing early signs of deteriorating trends, and non-performing accounts in order to turnaround such accounts, improve optimal performance and minimize financial loss to the institution.
Key Duties and Responsibilities:
- Issues Arrears notices: On daily basis calls/issues arrears notices and follows up on clients that have not settled their monthly obligations to improve portfolio quality and avoid financial losses to the institution.
- Schedules repayment plans: Discusses debt repayment plans with defaulting clients and recommends to management; accounts that would require restructuring accordingly, so as to enhance loan portfolio quality.
- Branch support on loan balances: Supports branches by responding to queries regarding loan account balances raised by customers for effective communication and customer service and ensures all client files are up-to-date with necessary communications, correspondences and file notes to ease the debt recovery procedures whenever may arise.
- Accounts management: Responds to customer queries regarding the status of their loan accounts including reconciliations in case their accounts have irregularities.
- Collateral backup: Checks for security perfection for the accounts that are NPA or are showing signs of deterioration, forwards to legal department to ensure a smooth and quick foreclosure process and should security not be perfected forward to Legal for immediate perfection.
- Compliance & Reporting: Ensures timely capturing of cash flows in the system for proper IFRS reporting to minimize provisioning and compliance.
- Coordinate release of Collateral: Processes the release of securities for accounts/loans that have been paid off and forwards to Head of Credit for recommendation to maximize profit for the institution.
- Portfolio quality: Ensures quality of respective allotted portfolio by conducting daily monitoring and reviews of delinquent account records to determine which customers must be contacted for collection of overdue accounts and providing regular support.
Qualifications, Skills and Experience:
- The applicant must hold a Bachelor’s degree in Economics, Statistics, Commerce, Business Administration or equivalent.
- Two years of experience as credit officer / credit administration / in debt recovery / past experience working in a call center from a Financial Institution.
- Basic understanding of the legal framework.
- Sound knowledge and understanding of relevant banking (i.e. MDI Act/IFRS guidelines) and regulations on asset quality/credit legislation.
- Decision making skills and results oriented personality with a high level of integrity and customer relationship management skills.
How to Apply:
If you believe you meet the requirements as stated, submit an application letter together with an up-to-date CV to our email: recruitment@ugafode.co.ug. Save the Documents as Your Full Name & indicate the job title you are applying for in the Email Subject Line. Your applications should be addressed to the Head of Human Resources
Deadline: 20th May 2022.
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