EFC Tanzania is a Microfinance Bank that provides financial services i.e. taking deposits and providing loans to micro, small and medium-sized enterprises and individuals. The bank is growing fast with the focus of reaching out to the unbanked business by growing its network throughout Tanzania in the coming years. To accomplish this, the bank needs to recruit Senior Recovery Officer who are competent, analytical, experienced and hardworking individuals determined to go extra mile for their career growth and future.
It is the primary objective of the Senior Loan Recovery Officer to support the Manager Loan Recovery / CD (as applicable) with the planning, coordination, control and direction of all delinquent loan collection and recovery operations of EFC Tanzania in such a way as to mitigate and manage losses together with financial and reputational risk. This position is accountable to support the:
• Mobilization of Loan Recovery Officers and other department support staff according to the objectives of the EFC loan collections and recovery framework with an enabling skills development and capacity building approach;
• Fostering and development of a customer relationship culture to facilitate amicable yet effective loan recovery processes by advancing the principles of the EFC Customer Protection Guidelines (No. 31101) with particular attention to principle five of the Smart Campaign : “fair and respectful treatment of customers”;
• Driving of productivity and efficiency improvements within the department.
Duties & Responsibilities
The Senior Loan Recovery Officer is primarily responsible to support the Manager Loan Recovery / CD (as applicable) to effectively lead and manage the EFC delinquent loan collection and recovery operations. In addition, this position provides management support to the effective and efficient review, verification and analysis process for all loans in arrears to ensure appropriate recovery strategies are developed and implemented.
The principal responsibilities are to support the:
• Management and monitoring of all loans in arrears together with the performance of the Recovery Team;
• Recovery management process with the highest level of pervasive professionalism through the application of EFC recovery activities protocols and proper department networking and skip tracing methods;
• Initiation of plans for recruitment, training and development of Loan Recovery Officers in accordance with the Company’s credit risk profile and makes recommendations as appropriate to the Human Resources Manager;
• Development, maintenance and monitoring of an external network of recovery partner specialists (i.e. from the tender process, through case allocation, performance monitoring and communication);
• Application of related lending policies, procedures and internal controls on a regular basis and submission of appropriate improvement plans and strategies for consideration and approval as required;
• Achievement of all loan recovery related performance indicators and employment of necessary corrective actions as required;
• Drafting of departmental status reports as required.
Other tasks and responsibilities that will enable the fulfillment of the above noted responsibilities include:
• Co-ordinating and supporting staff development, coaching and motivation to enhance skills and knowledge by:
o Regularly reviewing Loan Recovery Officer collection activity reports,
o Regularly reviewing status of delinquent loans in litigation or assigned to external recovery partners (i.e. lawyers, bailiffs, auctioneers etc.),
o Attending, observing and supporting as required loan recovery meetings with customers and guarantors;
• Proactively developing recovery strategies in line with portfolio performance, implementing and communicating change as appropriate;
• Leading and controlling processes, operations and behaviour to ensure all activities remain compliant with standard procedures, regulatory requirements and ensuring the concept of 'Treating Customers Fairly’ is adhered to at all times;
• Driving process improvements within the department to maximise recoveries, mitigate losses and improve efficiencies;
• Performance of any other job related duties and responsibilities as assigned by the Manager Loan Recovery / CD.
Qualifications & Requirements (i.e. education, skills and experience)
The Senior Loan Recovery Officer requires good practical knowledge of loan recovery best practices in the financial services sector and the foresight to see how the related intricate day-to-day activities link with and support the achievement of the vision and mission of the EFC. In this regard, specific qualifications and requirements include:
• University Degree in business related studies;
• Three years relevant experience in a financial institution;
• Good knowledge of credit and loan recovery systems;
• Developing leadership, management and team building skills;
• Excellent planning, organisational and problem solving skills;
• Ability to manage multiple priorities and deadlines;
• Excellent interpersonal skills in a cross-cultural environment;
• Excellent oral and written communication skills;
• Strong computer skills (Word, Excel, Power Point, database etc.).
Interested candidates are requested to submit a letter of interest detailing their motivation for the position applied for together with their Curriculum Vitae, three professional references and copies of academic Certificates/Diplomas/Degree and others Closing Date is 20th February 2017. The letters should be addressed to: Human Resources Department, EFC Tanzania Microfinance Bank Limited, 8nd Floor, Tanzanite Park, 38 New Bagamoyo Road, P.O. Box 11735, Dar es Salaam, Tanzania.