1. PURPOSE OF JOB
Monitoring of accounts causing concern with a view to prevent their slippage and devising/ implementing strategies to make recoveries from NPAs and written-off accounts.
2. PRINCIPLE ACOUNTABILITIES
• To identify accounts which are above sanctioned limits/ expiry of limits/ where full compliance of terms of sanction remains pending/ showing other early and late warning signals, causing concern
• To follow up on all the 4 categories stated above to bring about improvement/rectification of unsatisfactory features and to escalate issues to higher management
• Meeting recovery targets
• Reminder letters to such credit customers
• Attending customers issues and correspondence
• Restructuring/ reschedulement/ compromise
• Preparation of BOT returns, Board papers, covenants for loans from DFIs and other related MIS
• Proposing accounts to be downgraded into NPA.
• Handling of various audits including external and internal
• Full compliance of regulatory and policy norms/ directives
• Identifying accounts for filing of suits.
• Devising strategies to ensure maximum recovery on all written off accounts.
• Attending court hearing sessions as bank’s witness.
2.2 FINANCIAL RESPONSIBILITIES
2.3 INDEPENDENT DECISIONS
• Call customer / borrowers in which their accounts indicate defaults, to negotiate the plan for repayments.
• Write formal letters to remind customer to clear outstanding dues.
• Issue Legal demand notices
• Engage debt collectors in the recovery.
• Visit customers to evaluate the progress of their business
2.4 INTERACTION WITH OTHERS
Internal: Regular contact with Corporate and Branch staff
External: Regular contact with other lenders, Debt collectors, courts and external auditors
3 QUALIFICATIONS AND EXPERIENCE
• Must be a graduate in Banking and Finance or related field.
• Must have at least 5 years of working experience
• Knowledge of legal matters
• Relevant experience in credit risk
• Having a proven record of managing recovery function at a senior level.
• Having a better understanding of dealing with Customers problems
• Having good negotiation skills.
• Good Analytical skills
• Having wide understanding of the Tanzanian market.
• Hard working
• Good decision making skills