The Loan Recovery Officer will support the Recovery Manager in championing the institution’s loan recovery program/activities in liaison with all Branch Credit Team as well as the external debt recovery agents.
- Minimum Qualification: Bachelor
- Experience Level: Entry level
- Experience Length: 2 years
Position Location: Entebbe
Minimum Hours per week: 45
Eleglance Finance is a privately owned microfinance institution dedicated to delivering benefits of financial services tailored to individuals, groups and SMEs that find it challenging to access services from mainstream banks. Our investment goes beyond providing capital but creating innovative solutions tailored towards the financial needs of a growing private equity. We opened doors in May 2012 and have since then expanded to several branches including Entebbe, Soroti, Lira, Kabalagala, Kamwokya, Kyaliwajala, Abayita ababiri and Mbale, with our headquarters in Entebbe.
Position reports to Recovery Manager
Direct reports: None
The Position works closely with both recovery and credit teams in the loan recovery process with a goal of improving expected cash flows for funds due from EFL customers.
The Loan Recovery Officer will support the Recovery Manager in championing the institution’s loan recovery program/activities in liaison with all Branch Credit Team as well as the external debt recovery agents. He / She is responsible for meeting targets set for cash collection from debtors and giving support to management of the debt portfolio.
Key Responsibility Areas
• Support the development of an Institutional plan for recovery of all non-performing and written off loans.
• Ensures Branch Credit team carry out prompt follow up and recoveries of non-performing loans.
• Ensures loan recovery activities are carried out in accordance with the EFL credit policy and procedures.
• Advises and guides Management and Branches on loan collection plan/activities to be carried out for daily recovery non-performing loans.
• Supports the Recovery Manager in preparing cases for handover to external debt collectors and legal action.
• Supports and follows up with assigned court bailiffs’ auctioneers and other debt recovery agents and advises management on all allocated loans.
• Ensures strict adherence to the delinquency policy across all designed branches.
• Provides debt recovery support to Branches by carrying out field visits in Branches and engaging with defaulting customers.
• Ensures the designated Branches maintain proper record of loan recovery activities including demand notices, recall letters etc.
• Prepares reports on debt collection for presentation to the Recovery manager and/or management
Education & Certifications:
• A Bachelor’s Degree in business administration, commerce or any business-related course from a reputable University.
Essential Knowledge and Experience
• At least 2 years experience in the credit/banking operations, with exposure to credit or lending and debt collection functions.
• Must be able and willing to ride a motorcycle and should possess a valid riding license or willing to learn within the first month when appointed.
• Should be fluent in the commonly used local languages and ready to work in any of our branches.
• Should not be aged more than 30 years.
• Excellent communication and negotiation skill.
• Knowledge of Microsoft excel for data entry and analysis is essential and mandatory.
Other Required Skills & Competencies:
• Ability to plan, organize, and prioritize work.
• Self-driven and result-oriented.
• Demonstrate the highest level of ethical behavior.
• Remain flexible to adapt to changes in the work environment.
• Maintain confidentiality of sensitive information.
• Possess a work ethic that includes neatness, punctuality, attention to detail, and accuracy.
• Basic computer skills, including e-mail, word processing and spreadsheets.
• Excellent interpersonal skills to facilitate interaction with the clients and other staff.
• Maturity, honesty, integrity, and a strong sense of ethics
• Demonstrated ability to remain calm in stressful situations.
• Patience and understanding.
• To be persuasive, persistent, and firm.
How to apply:
All suitably qualifying candidates should send their application and Updated CV together with copies of certified academic and professional certificates, current salary, salary expectations, names of 3 referees, and daytime telephone contact (saved as one PDF document) through the Brightermonday Portal by Clicking on the 'Apply Here ' section Before 30th November 2023.
Please note that the recruitment is ongoing as applications come in.
EFL is an equal opportunity employer with no consideration Only shortlisted candidates will be contacted. Please note that canvassing and lobbying will lead to automatic disqualiﬁcation of the candidate. Female Candidates are encouraged to apply
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