P
Legal Recovery Officer
Job summary
The primary role is to assist the entire network in recovery of loans in arrears especially those above 60 days.
Experience Level:
Experience Length:
Job descriptions & requirements
Function: Credit
Reports to: Head of Credit
Role:The primary role is to assist the entire network in recovery of loans in arrears especially those above 60 days and work with third party service providers(auctioneers) in relation to recovery to ensure effectiveness and recovery of all written off loans.
Key Result Areas
- Coordinate and follow up the recovery of loans under legal action.
- Identify poor performing branches(with high arrears) and take quick remedial actions
- Lead in the recovery of charged off loans to avoid total loss of the same
- Lead the recovery team to support the entire network with recovery of loans especially those above 60days overdue
- Coordinate and supervise the activities of third party service (auctioneers) to ensure effectiveness
- To ensure compliance with legal and regulatory frame governing the bank in regards to recovery
- Assists with the preparation of all legal documents and correspondence of legal nature with third parties in regards to loans in default
- Liaise with external lawyers in connection with litigation for and on behalf of the bank in regards to delinquent cases
- Formulate views about potential legal problems in regards to delinquent customers
- Ensure safe custody of all impounded assets
- Contact customers whose accounts are overdue and ensure recovery of monies in arrears
- Assign defaulting customers to third party collectors and officers
- Ensure daily monitoring of delinquent accounts
- Ensure monthly/weekly reporting on progress of Debt collection & Preparation of monthly recovery reports.
- Train and coach staff in recovery procedures.
- organize NPA meetings and report way forward
Minimum requirements:
- Bachelor’s degree law or related areas
- 3 years’ experience in recovery and recovery procedures is desirable
- Legal knowledge in recovery procedures is a MUST
- Aggressive personality but with ability to communicate well with customers
- Proactive and accountable.
- Ability to write reports
- Must possess high level of integrity, a hard worker as well as a team player
- Ability to frequently travel out of station.
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