Chai Sacco Jobs in Kenya Credit Recovery Officer

Chai Sacco Jobs in Kenya Credit Recovery Officer

Job Description Credit Recovery Officer

Status: Permanent

Reporting to: Credit Manager

Division/department: Credit

Position Supervises: None

Purpose of the Job

To support the Credit Manager in loan recovery to maintain a PAR of below 5%.

Main Duties and Responsibilities:

The duties and responsibilities are outlined as follows;

I. Operational Roles and Responsibilities

a) Extracting, validating and sending expected deductions to stations domiciled in Nairobi Branch.
b) Receiving, posting and analyzing variances from individual members, factory/stations, other corporate
institutions and group.
c) Reconciling station remittance account.
d) Ensure prompt recovery of all loans under the assigned portfolio.
e) Analyze bad debts based on aging and take appropriate actions to collect all arrears from defaulting members.
f) Aggressively follow up on defaulted loans and undertake field visits where necessary for recovery activities.
g) To prepare weekly and monthly performance reports of allocated portfolio indicating the portfolio at risk.
h) Constantly monitoring performance of the assigned loan portfolio to ensure prompt payment of the loans;
i) Analyzing loan underpayment reports and reminding members to make prompt payments of loans on due
dates;
j) Preparing defaulters list for onward forwarding to CRB and external debt collectors.
k) To recover all loans in arrears and timely reporting of variations of members’ deposits and/or loan repayments.
l) To issue demand notices to guarantors of defaulted loans through the branch credit team.
m) To attach guarantors on defaulted loans.
n) To liaise with Branch Credit Committee in enhancing the PAR to below 5%.

II. Perform any other duty as may be assigned from time to time

Key Result Areas:

The accountability areas are as follows