Loan Collection Officer at Brac Uganda Bank, Northern, Uganda

Job Description

To manage the banks written off portfolio and loans at risk of write off, recommend and implement remedial action for purposes of increasing the bank’s profitability by collecting all monies owed to the bank as guided by the bank’s recovery policy and existing laws.

 Plan, coordinate and lead the recovery of written off loans in line with the debt recovery policies and procedures.
• Ensure proper management of the nonperforming portfolio (loan at risk of write off) in such a way as to minimize, control or avoid the likely loss to BRAC Uganda Bank Ltd as a result of loan write-offs.
• Innovatively initiate recovery processes and procedures aimed at enhancing recovery activities and minimizing the number of loans to be written off.
• Review and profile the written off portfolio and loans at risk of write off thoroughly to ascertain the recoverable loans and come up with a recovery plan.
• Plan, coordinate with branch management and Loan Collection Supervisor to ensure recovery of written off loans as per the set recovery targets.
• Plan, coordinate with branch management and Loan Collection Supervisor to ensure recovery of projected loans/loans at risk of write off as per the set recovery targets.
• Identify, review and assign loan accounts to external debt collectors upon approval and monitor the closure of such accounts by the court bailiffs.

• Identify and locate unknown written off loans and projected loans by use of group loan schemes, SEP loan files, LC members and group members in active groups.

• Supervise the work done by external debt collectors and ensure they are supporting the assigned branches and satellites on a weekly basis.
• Prepare and submit timely reports with clear recommendations on all cases directly under your supervision to the Loan Collection supervisor of the Division Manager.
• Mentor, coach and build capacity of all field staff on the best practices in recovery and management of delinquent loans.
• Negotiate with Debtors and ensure that the Debtors repay the bad debts at a lowest cost to the Bank.
• On board and manage the performance of the external debt collector’s/law firms and ensure timely submission of monthly status reports and weekly schedules
• Conduct regular delinquency meetings to discuss the written off portfolio and the loans at risk of write off and provide timely remedial actions.
• Conduct by-weekly meetings with external debt collectors and ensure minutes are shared with your supervisor and Manager loan collections.
• Oversee all the cases being managed by External lawyers in your branch and provide timely reports about the status of such cases to your supervisor.
• Ensure statutory notices and demand notices are being served on time as per the recovery policy guidelines.
• Supervise the sale of pledged assets/ or sale and ensure all amounts in default are paid plus costs and any balances if any, after settling the outstanding obligations are paid back to the borrower

 Minimum of 2 years’ experience in Credit/debt collection.
• Bachelor’s degree/Diploma in Business Administration. Or Bachelor of Law.

• Legal knowledge and skills
• Analytical and Investigation Skills
• Knowledge and understanding of FIA
• Excellent recovery skills
• Ability to work under pressure and overtime.
• Team works oriented and willingness to guide and train others.
• High level of integrity