Jamii Sacco Principal Officer-Credit Control Jobs in Kenya

Jamii Sacco Principal Officer-Credit Control Jobs in Kenya

Job Purpose

  • Reporting to the Deputy CEO/Head of Finance, the job holder is responsible for coordinating the debts of existing creditors and ultimately managing all money borrowed or owed to the business by handling the collection of due and overdue accounts, raising invoices and issuing credit notes.

    Functions / Key Results Expected

  • To plan, implement, co-ordinate and review the Credit Management Strategies.

  • To provide leadership to the Credit Control team and liaise with other Departments to ensure prompt collections.

  • Oversee the entire collection process including continuously reviewing Credit Control policy in line with changing trends and needs.

  • Provide inputs to the appropriate Board Committee to ensure measures are taken to rectify any identified gaps in the lending and collection process.

  • To critically review all non-performing accounts and develop appropriate strategies to ensure recovery of the amounts due in an efficient and cost effective manner.

  • Design and implement processes of monitoring and rehabilitating delinquent accounts, in order to ensure that PAR is below regulator’s recommended rate.

  • Maximizing recoveries from write off accounts.

  • To ensure a uniform debt collection strategy in line with the Society’s policies to avoid reputation risk or legal challenges.

  • Undertake periodic review of securities held against all non-performing accounts in order to ensure they are perfected and that no dilution happens during the debt recovery period.

  • Plan and coordinate the debt recovery process with various service providers (Lawyers, Valuers and Auctioneers) in order to avoid undue delay and escalation recovery costs.

  • Ensure the relevant evidence in support of any Legislation matters are properly documented, shared with the key stakeholders in good time and ensuring these witnesses are well prepared with factual and relevant information.

  • Providing periodic reports to Management and respective Board Committee on the recovery status of each non-performing facility, with clear recommendations on the way forward.

  • Liaising with the Head of Finance to ensure appropriate adjustments are made to the provisions for bad & doubtful debts as per the required guidelines in order to comply with IFRS-9 requirements.

  • To manage the Credit team so that it
    can achieve the Sacco’s set targets in line with business goals.

  • To follow up all cases of default including addressing letters to the loanees and guarantors.

  • To draft and issue appropriate notices to members who may require loan clearances.

  • To ensure that all notices are issued to defaulters before engaging debt recovery action through service providers ( Auctioneers & Debt Collectors)

  • To negotiate and restructure facilities where such action increases chances of recovery of the debts outstanding.

  • To follow up all employers to ensure timely remittances

    Impact of Results

  • Leads to effective recoveries of any outstanding loans/remittances owed to the SACCO from either corporate, groups or individuals (members).

    Qualifications & Requirements

  • Bachelor’s degree in Finance, Accounting, Banking, Credit Management or any other related field from a recognized institution.

  • Professional qualifications in Credit Management (Certified Credit Professional)

  • CPA-K or Diploma in cooperative management is an added advantage.

  • Minimum of 6 years’ relevant experience in Credit Administration or Loan Management gained from working at management level in a Financial Institution/SACCO

  • Strong analytical and communication skills, negotiation skills and interpersonal skills, focused, self-driven and attentive to detail.

  • Ability to multitask and meet required deadlines is essentials

  • Ability to resolve conflicts arising in the work environment is necessary.

  • Ability to work with minimum supervision.

    General Requirements

  • Planning & Organizing

  • Leadership

  • Entrepreneurial Awareness

  • Decisiveness and adaptability

    Other Requirements

  • Police clearance certificate (Certificate of Good Conduct)

  • Tax compliance certificate from the Kenya Revenue Authority (KRA).

  • Clearance certificate from the Ethics and Anti-Corruption Commission (EACC).

  • Clearance certificate from Credit Reference Bureau (CRB)

    How to Apply

  • For more information and job application details, see; Jamii Sacco Principal Officer-Credit Control Jobs in Kenya

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