Job Title: Recovery Officer
Organisation: Finance Trust Bank (FTB)
Duty Station: Kampala, Uganda
Reports: Regional Recovery Supervisor
About US:
Finance Trust Bank (FTB) was licensed as a Tier 1 Commercial Bank on 11th November, 2013, taking over the financial services business of Uganda Finance Trust Limited (MDI). Today, Finance Trust Bank is a fully-fledged commercial bank serving a clientele of over 500,000 depositors and over 37,000 borrowers, through a network of 34 branches countrywide. The bank offers a variety of Products and services including; Savings, Current accounts, Loans, Money transfer services and Bills payments to its target market which comprises of micro, small and medium entrepreneurs, salary earners and youth.
Job Summary: The Recovery Officer will ensure proper management of assigned credit facilities in default in such a way as to ensure that loss to the bank is minimized, controlled or avoided.
Key Duties and Responsibilities:
- Periodical review of the recovery procedures and advise management on the new development in the recovery process
- Daily review of the region’s arrears position and advise the Supervisor on the progress of recovery of all loans above 30 days in arrears
- Monitor and Coordinate recovery activities for loans above 60 days at the different branches within the region.
- Ensure that the institution’s recovery agents give proper attention to the recovery of bad debts
- Ensure that proper procedures are followed in liquidation of customer collaterals and guide the branch and the recovery agents on the recovery process
- Initiate and monitor the transfer of non-performing loan portfolio to the regional recovery officers in liaison with the regional managers
- Train and guide staff on the best practices in the recovery of delinquent loans.
- Negotiate with Debtors and ensure that the Debtors repay the bad debts by at a lowest cost to the Bank.
- Prepare the authorization documents with appropriate documentation to Management Credit Committee for approval or decision on realization of the bad debts.
- Represent the institution in court sessions in liaison with the legal manager in the cases instituted against the Institution’s debtors or against the Institution by a customer
- Coordinate the allocation of bad loans to court bailiffs and ensure that proper approval is obtained at the time of allocation
- Receive and verify payment requests from court bailiffs prior to submission to the Supervisor for approval.
- Identify and advise management on all delinquent accounts that require legal proceedings on a regular basis.
- Monitor the provisions made on bad debts and ensure that the institution is compliant with the BoU regulations and advise management on loans requiring subjective provisioning
- Follow up and ensure that all recoveries from written off loans are properly booked and reconciled on a regular basis.
- Carry out periodical visits to delinquent customer’s securities and advise management on the condition of the security
- Any other duties as may be assigned by your immediate supervisor from time to time
Qualifications, Skills and Experience:
- The applicant must hold a Bachelor’s degree from a recognized University
- At least three years of experience in Credit operations
- Good verbal and written communication skills
- Advanced, computer literacy, numerical skills and statistical skills.
- Team player, ability to work under pressure and in position to exercise excellent judgment.
- Financial analysis skills
- Ability to work under pressure.
- Team work oriented
- Demonstrated a high level of integrity
- Customer oriented
- Ability to transfer knowledge and provide guidance to others.
- Ability to work long hours without supervision.
- Flexibility to work from any part of the country.
NB: Position carries an attractive salary and benefits package.
How to Apply:
All Suitably qualified candidates should address their application to Head, Human Resource, Finance Trust Bank, TWED PLAZA, Plot 22B, Lumumba Avenue, Kampala, Uganda, and email it to jobs@financetrust.co.ug. as well as photocopies of academic testimonials, and a CV. The CV should include telephone contacts and email addresses of three referees, one of who should be the most recent employer.
Deadline: 31st March 2023
Please note that in line with the Bank procedures, no job offers are made online.