Retail Remedial Officer

Role Summary

Assist in following up on outstanding debts within the retail portfolio. Review client files for performing loans, contact clients and their guarantors, and help arrange debt repayment either through cash or rescheduling to ensure the bank’s rights are protected.

Key Responsibilities:

• Liaise with debtors regarding outstanding debt and agree a deadline for payment.
• Provide administrative assistance to claim settlements.
• Assess compliance with established standards and protocols for routine inquiries.
• Ensure that basic customer details held in the system are accurate, and make notes of follow-up actions that have been promised, together with notes of actions taken during each sales call.
• Gather information for recommendations to the risk modeling and risk scenarios.
• Create positive experiences for clients by interacting courteously with them.
• Prepare routine letters, memoranda, reports, and similar documents following detailed instruction. This is likely to involve using the full range of functions within standard office software.
• Understand and follow basic information security procedures, responding to standard queries and incidents. Learn and apply processes to protect sensitive information.
• Develop working knowledge of the organization's policies and procedures and of regulatory codes and codes of conduct relevant to own work, adhering to mandatory procedures to ensure own work is undertaken to the required standards.
• Develop and maintain excellent process or technical skills by participating in assessment and development planning activities as well as formal and informal training and coaching.
• Prioritize own workflow and ensure work is completed to the required standards of quality and timeliness; use performance management systems to improve personal performance.
• Support others by carrying out simple risk monitoring and assessment tasks.
• Follow a range of mandatory procedures and methods of work (including the use of personal protection equipment where relevant) to safeguard the environment and the well-being of self and others.
• Support in using the internal communications system to access specific information on request.
• Support others by carrying out routine policy-related tasks.

Tasks:

• Achieve Collection targets set by Retail and Remedial in Charge or the department Manager
• Manage and monitor delinquent and non-performing retail accounts .
• Prepare restructuring, rescheduling, and settlement proposals in line with approved policies
• Monitor repayment plans and ensure compliance with agreed terms
• Coordinate with Credit, Collection, Legal, Branches, and other relevant departments.
• Prepare regular reports and provide updates on portfolio performance and remedial activities
• Prepare credit studies on the debts of defaulting clients and/or their guarantors within the scope of the job, the results of follow-ups and investigations, and developing appropriate recommendations in terms of scheduling debts
• Maintain polite and professional communication with debtors to explain the importance of timely payments and resolve disputes.
• Ensure that all debt collection practices adhere to relevant laws and regulations, such as the Fair Debt Collection Practices Act.
• Negotiate settlements with debtors when appropriate, taking into account the company's guidelines and policies
• Evaluate the creditworthiness of debtors and recomme credit limits or restrictions when needed
• Stay updated on industry trends, regulations, and best practices in debt collection to improve effectiveness.

Qualifications & Skills:

• Education: Bachelor’s degree in finance, Business Administration, or related field.
• 2 – 5 years of experience in retail collections, debt recovery, or a similar role within the banking or financial services sector.
• Strong negotiation and communication skills.
• Knowledge of collection policies, regulations, and financial analysis.

 We are an equal-opportunity employer, committed to fostering an inclusive workplace. All applicants will be considered for employment without discrimination based on race, color, religion, gender, national origin, or disability status. We are dedicated to maintaining a safe, healthy, and supportive work environment for all.