Collection Manager

  • Full Time
  • Lusaka, Zambia
  • Applications have closed

Financial Institution

Micro-Finance

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
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