Collections and Recoveries Officer job at I&M Bank Uganda

Summary
Date Posted: Saturday, January 04 2025, Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose
Responsible for the collection of debts prior to legal recovery proceedings commencing, negotiating payments/payment arrangements, handling debtor enquiries and provides administrative assistance to the team.

Key Responsibilities:
• Review the delinquent files thoroughly to ascertain the causes of the default and recommend remedial action, within pre-determined policy rules and laid down strategies.
• Recommend accounts to be transferred to external lawyers an outsourcing of a debt.
• Advise and organize customer -bank meetings for accounts that are out of order.
• Make recovery or demand calls to defaulting clients and document details
• Issue demand and default notices to the defaulting clients.
• Submit weekly reports on accounts in portfolio to Team Leader Collections & Recoveries.
• Prepare and submit recovery call reports on a weekly basis.
• Prepare settlement and payment memos for clients and services providers
• Visit collaterals, business premises of defaulting clients and prepare collateral visit reports
• Prepare remedial requests from defaulting clients and update the facility documentation and securities.
• Update all clients’ files with the relevant recovery efforts and respond to customer complaints.
• Carry out revaluation of properties before disposal and work with external collectors to recover from defaulting clients.

Minimum Education Qualification:
Bachelor’s degree in finance, Business, Accounting or Commerce or its equivalent
Professional Accounting Qualification is an added advantage.

Work Experience:
A minimum of 3 years’ experience in Credit operations mainly collections and recoveries.

Required Competencies (Knowledge, Skills & Abilities):
• Interpersonal
• Patience and resilience
• Relationship Management
• Negotiation
• Familiarity with state debt collection laws
• Knowledge of payment plans and accounting procedure.

Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure
• Note: Deadline for this job posting is 05 Jan 2025 at 5:00pm and only shortlisted candidates will be contacted
• Interested and qualified? Click here to apply

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