Summary
Date Posted: Friday, February 28, 2020 , Base Salary: Not Disclosed

JOB DETAILS:
Job Summary
We are looking for 3 suitable and qualified Candidates to fill the position of a Recovery Officer in order to effectively manage loan recoveries and written-off loans as well as manage and mitigate credit risk.
Job Description
Musoni is the world’s first financial institution to exclusively use mobile money. We aim to be the most efficient microfinance institution in Kenya by being cashless, paperless and data-driven to offer the best value, most flexible and most customer-oriented financial services in the market. .

Job Responsibilities:
The successful candidates will be based in either Nairobi, Central or Eastern Region. Reporting to the Recovery Manager, the successful candidates will be expected to:
• Manage delinquent loan accounts/portfolios at different Branch locations and on need basis;
• Conduct monthly analysis of all loans accounts that are over 30 days’ arrears and recommend corrective measures for future loans;
• Coordinate with Branch Managers to prepare weekly progress reports on delinquent loan accounts;
• Investigate and thoroughly understand borrower’s problems, formulate strategies and solutions for recovering delinquent accounts;
• Manage the recovery of Written Off accounts with the Auctioneers/Debt collectors;
• Coordinate with Auctioneers/Debt Collectors, review their performance prepare monthly reports on the accounts that are assigned to them;
• Follow up repayment arrangements and actively monitor that the default is taken up expeditiously with the debtors;
• Follow up overdue accounts by mail, electronically or in person to establish payment arrangements;
• Documenting and disseminating lessons to lending officer on common challenges, trends, gaps, and high-risk arrears;
• Ensure the recovery exercise fully complies with the statutory regulations and guidelines;
• Liaise and monitor the execution of the recovery exercise by the third parties involved including auctioneers, lawyers and debt collectors;
• Manage storage and sale of repossessed collaterals;
• Any other credit related duties as may be assigned by Recovery Manager and/or Chief Risk Officer

COMPETENCIES AND PERSONAL ATTRIBUTES
• Strong analytical skills
• Quality focused & proactive individual able to effectively communicate ideas and solutions to customers and colleagues at all levels
• Highly customer focused with high level of interpersonal and negotiation skills
• Proactive, flexible and resilient team player
• Ability to multitask & work with minimum supervision

QUALIFICATIONS, SKILLS AND EXPERIENCE
• Diploma or bachelor’s degree in Business studies or Economics;
• At least 3 years of credit experience in a Financial Institution or Microfinance;
• Must be a confirmed employee of Musoni Microfinance Limited and with a good performance track record.

Job Education Requirements: Not Specified

Job Education Experience: Not Specified

Work Hours: 8

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Job application procedure
The successful candidates will be required to travel frequently to different Branch locations and on short notice.
If your career aspirations match the requirements of this exciting career opportunity, please submit your CV and cover letter with the title “Recovery Officer” on the subject line not later than Monday 9th March 2020. Your cover letter should explain what you believe you can offer Musoni.
Only shortlisted candidates will be contacted.
Musoni Microfinance is an equal opportunity employer. We do not ask candidates to pay money for recruitment purpose.

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