LOLC Finance Zambia Limited
LOLC Holdings Plc is the largest dynamic and most profitable Non-Bank Financial institution (NFBI) in Sri Lanka and is listed on the Colombo Stock Exchange. Present in the continents of Asian and Africa, the LOLC Group operates in Myanmar, Indonesia, Philippines, Cambodia, Pakistan, Tajikistan, Egypt, Nigeria, Zambia, Malawi, Tanzania, Kenya, Maldives, Sierra Leone, Mauritius, Zimbabwe, Singapore and UAE with strategic plans to further entrench its presence across the African continent and Central Asia. To support this vision, LOLC Finance Zambia Limited which is a subsidiary of LOLC Finance Plc, is recruiting qualified individuals for the following positions:
1. ASSISTANT MANAGER – COLELCTIONS & RECOVERIES x 1 – LUSAKA
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
- To design and implement effective collections strategies and tactical interventions to ensure proper management of credit risk
- 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
- Ensure compliance with statutory, regulatory and supervisory requirements, to protect the reputation of the Group and to avoid legal action or sanction in respect of regulatory breaches
- 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
- 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
- To build a sound and effective partnership model with Credit, Business and outsourced parties
- Supervise Debt Recovery officers
- Assume any other responsibilities assigned
Qualifications:
- Certified grade 12 certificate with a minimum of credit in English and Mathematics
- Any business or accounts related Diploma or Degree, preferably in Banking and Finance, Economics, Business Administration, Accounts
- A minimum of 3 years of relevant work experience in debt collection and credit risk management in a Non-Bank Financial Institution /Microfinance Institution will be an added advantage
- A 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 repayment
- Preferably based in respective location of application with own accommodation
2. MANAGEMENT ACCOUNTANT x 1 – LUSAKA
Job Responsibilities
- Preparation of all components of Management accounts, Bank of Zambia Returns and Group reports
- Monthly cost reporting and review (strong focus on cost review and cost management reporting)
- Perform month-end and year-end close processes
- Ensure monthly GL and bank reconciliations are completed on time and are accurate
- Ensure treasury investment interest and balances are processed on time and are accurate as well as providing analysis on balances for review
- Prepare annual financial statements for Statutory entities
- Ensure management of company accounts, including posting and payment
- Preparation of Audited Financial statements
- Ensure and review of daily, weekly and monthly bank reconciliation of all accounts
- Strong focus on financial modelling and budgets
- Oversee that all loans are disbursed daily
- Ensure resolution of all bounced payments and queries within the stipulated time frame
Qualifications;
- Certified grade 12 certificate with a minimum of credit in English and Mathematics
- Undergraduate qualification in Accountancy, Finance, ZICA, ACCA or CIMA, or related discipline
- Member of the Zambia Institute of Chartered Accountants (ZICA)
- A minimum of 3 years’ progressive work experience in similar job function
- Background in a Microfinance Institution will be an added advantage
- Personal attributes should include integrity and reliability; must be astute, versatile, self-driven and well-motivated.
- Preferably based in respective location of application with own accommodation
3. COMPLIANCE OFFICER x 1 – LUSAKA
Job Responsibilities
- Develop and implement programmes for the prevention of money laundering, financing of terrorism or proliferation or any other serious offence relating to money laundering, financing of terrorism or proliferation
- Develop internal policies, procedures and controls to fulfil obligations in (i) above.
- Receiving and vetting suspicious transaction reports (STR) and currency transaction reports (CTR) from staff
- Ongoing training for staff to make them aware of the laws relating AML/CFT or proliferation or any other serious offence relating to money laundering, financing of terrorism or proliferation
- Conduct quarterly AML/CFT institutional risk assessments and submit reports to Senior Management and the Board of Directors
- Staying abreast of changes in applicable banking and finance legislation and adjusting policies and processes as necessary to reflect such obligations
- Ascertaining compliance risks and proposing mechanisms for mitigating them
- Familiarity with current international and national industry practices and professional standards
- Knowledge of legal requirements and controls vis a vis Anti Money Laundering and financing of terrorism.
Qualifications;
- Degree in Business Administration, Banking and Finance, Accountancy or Law from a recognised University
- Minimum of 3 years’ experience as a Compliance Officer in a reputable financial institution
- Minimum of 3 years’ experience in Senior Management as Compliance Officer
- Experience in Risk Management at Senior Management level
- Personal attributes should include integrity and reliability; must be astute, versatile, self-driven and well-motivated.
4. AUTO-LOAN OFFICER x 3 – LUSAKA
Job Responsibilities
- Acquire auto-loan customers
- Market auto-loans and reach out to potential clients
- Conduct client visitations in order to accurately assess their credit worthiness and financial status
- Provide customers with auto-loan finance advice and assist them in preparing the loan documentation
- Carry out a proper due diligence and submit auto loan files for appraisal
- Provide professional customer service
- Maintain relationships with clients and Auto dealers
Qualifications;
- Degree/Diploma in a Business related program from a recognized institution
- Experience in Sales and Marketing will be an added advantage.
- Must have Basic Understanding of Sales and Marketing
- Personal attributes should include charisma and reliability; must be astute, versatile, self-driven and well-motivated.
5. COMPLIANCE OFFICER x 1 – LUSAKA
Job Responsibilities
- Develop and implement programmes for the prevention of money laundering, financing of terrorism or proliferation or any other serious offence relating to money laundering, financing of terrorism or proliferation
- Develop internal policies, procedures and controls to fulfil obligations in (i) above.
Receiving and vetting suspicious transaction reports (STR) and currency transaction reports (CTR) from staff - Ongoing training for staff to make them aware of the laws relating AML/CFT or proliferation or any other serious offence relating to money laundering, financing of terrorism or proliferation
- Conduct quarterly AML/CFT institutional risk assessments and submit reports to Senior Management and the Board of Directors
- Staying abreast of changes in applicable banking and finance legislation and adjusting policies and processes as necessary to reflect such obligations
- Ascertaining compliance risks and proposing mechanisms for mitigating them
- Familiarity with current international and national industry practices and professional standards
- Knowledge of legal requirements and controls vis a vis Anti Money Laundering and financing of terrorism.
Qualifications;
- Degree in Business Administration, Banking and Finance, Accountancy or Law from a recognised University
- Minimum of 3 years’ experience as a Compliance Officer in a reputable financial institution
- Minimum of 3 years’ experience in Senior Management as Compliance Officer
- Experience in Risk Management at Senior Management level
- Personal attributes should include integrity and reliability; must be astute, versatile, self-driven and well-motivated.
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, Assistant Manager-Collections & Recoveries_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 3 July, 2022. Only short listed candidates will be contacted.
Kindly submit your details to [email protected]