FINCA is a catalyst for economic growth and financial inclusion for the poor. Individuals living in some of the world’s most challenging economies have long been unbanked. They live without access to critical financial tools that enable progress toward a better life. They not only need access to financial services, but they have the right to those services along with affordable products that save them time and money, make them healthier, more resilient and empowered.
• The Debt Recovery Officer is responsible for coordinating the debt recovery process in FINCA Zambia by identifying and contacting defaulting clients in order to minimize arrears where Client Relationship Officers have failed to collect.
• These will be loans above 30 days in arrears and those identified or suggested by the Recoveries Supervisor.
• The Debt Recovery Officer will then have to recover monies from such clients.
• It is also the responsibility of the Debt Recovery Officer to look for insights, as in the root causes of defaults and report that to the supervisor.
Essential Duties and Responsibilities:
• Monitoring of the portfolio to identify the clients above 30days in arrears, in 31days to 90days bracket.
• Roll back arrears in 30days par to par 1 day
• Develop appropriate and effective payment plans with defaulting clients and making sure that such clients pay according to the plan
• Suggest whether the loan should be rescheduled or restructured following loan restructure and reschedule policy.
• Achieving significant debt recovery as and above stated in the agreed targets.
• Identify root causes of defaults and make recommendations for process improvement as and when appropriate.
• Completion of daily Call Reports on every client called on, and submission of the reports to ALLFZCallReports daily.
• Maintain excellent records of contacts, transactions, efforts and progress made on the recovery
• Liaise with the supervisor to report on progress and to discuss particularly difficult clients.
• Pass on difficult debtors at appropriate time to legal
• Provide weekly consolidated reports on the recoveries to the Supervisor.
Key Result Areas:
• Looking for insights in the cause of defaults and make recommendations to the supervisor so as to improve processes.
• Identify loans in arrears that are above the desires number of days in arrears and make recoveries on them to push them back to desired days. The Recovery Officer should always monitor how many loans cross over to par 30 and make sure he or she rolls them back to par one day to be handled by the CRO unless otherwise suggested by the supervisor.
• Setting monthly targets with the supervisor on how much should be recovered on the monthly basis
• These monthly targets should be broken down into weekly so that the Recovery Officer can show what they have recovered in a week.
• Provide weekly reports on the recoveries.
• Making recommendations to the Recoveries Supervisor – Recoveries on any changes to the processes, manuals or procedures that would contribute to achieving the targets contained in the operating plan.
• Degree in commerce, accounting, business administration or banking.
• A well-developed ability to work and communicate with adults.
• Mathematics, accounting and management skills
• A sound knowledge of micro finance and principles and practices of banking
• Two (2) years’ experience as senior Client Relationship Officer or 1year as credit supervisor year in a microfinance or financial institution.
How to apply
Submit your CV and application to: