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Job Summary
The purpose of this role is to conduct research, evaluate, recommend, and implement new alternative methods of collections and recoveries strategies for the unsecured and/or secured portfolios within Absa Retail Bank using leading-edge data analytics and predictive techniques
Job Description
Collections Strategy
Time split: 50%
- Collaborate with Retail Credit, Retail, to ensure optimal delivery of revenue and customer acquisitions targets
- Develop data-driven collection strategies within the Absa Retail Portfolio
- Develop detailed strategies that address the entire collection life cycle
- Develop several alternative campaign strategies based on an analysis of the data and seasonal/point-in-time scenarios that will affect portfolio Performance
- Innovate and identify new collection opportunities to enhance collection strategies i.e., payment capability, reminders, engagement, channels
- Drive implementation of strategies using decision capability (Triad or Develop MI framework (daily, weekly, and monthly MI) for reporting to senior management
- Develop a collections strategy that will reduce non-performing loans and maintain a quality retail book
- Input into the Collection and Recoveries Capacity Plan in liaison with the Head of Retail Credit and Head of Collections and Recoveries
- Coordinate all change initiatives in the Collections and Recoveries
- Identify new collection opportunities to enhance collection strategies i.e., Payment capability, reminders, engagement, channels
- Provide input into developing and review of Portfolio modelling
- Analysis of management Information with appropriate recommendations to the Head of Retail Credit
- Develop reporting tools and Decks for Senior Management to help inform strategy on the relevant portfolios
- Agree and be responsible for all change initiatives on the collection’s strategy
- Have a good understanding of the collections environment where strategies will be executed
- Initiate, agree, and monitor Collection and Recoveries strategies on retail products
- Understand and manage risks and risk events (incidents) relevant to the role responsible for formulating the strategy and approach to be taken with regard to collections
- Participate in defining operational metrics to measure efficiency to define Collection Strategies
- Identify new collection opportunities to enhance collection strategies i.e. payment capability, reminders, engagement, and channels;
- Drive implementation of strategies using decision capability
- Have a good understanding of the collections environment where strategies will be executed.
MI and Analytics
Time split: 30%
- Responsibility for personal & team adherence to governance, compliance, and lending portfolio controls
- Ensuring audit outcomes are satisfactory and backed by conformance to policy and procedures including proactive management of agreed responsibilities for Data Integrity
- Develop detailed data-driven collection strategies in a logical manner such that is analytically ready for Statistical Analysis Software
- Develop several alternative campaign strategies based on an analysis of the data and season
- Consolidate the data in a logical manner and analyze it to champion and challenge the BAU strategies
- Participate in in-country and centre meetings through PQR reporting giving insights on strategies deployed and impact on the portfolio
- Work in corroboration with portfolio Managers and the Head of collections in ensuring that the
- Identify any data anomalies or trends and investigate possible causes
- Identify external data sources that can enhance internal performance view and Support Strategies
- Produce detailed periodic reports that will track strategies against agreed Risk measurement performance metrics (performance, success, and industry)
- Participate in defining operational metrics to measure efficiency to define Collection Strategies
Stakeholder Management Objectives
Time split: 10%
- Partner with Retail Banking units, Centre, and other support functions to develop and execute strategic plans
- Proactively communicate with stakeholders within the Bank and Group on Credit Card and collections Strategy issues
- Ensuring that sufficient actions are undertaken to resolve all control weaknesses highlighted through the various credit risk reviews and audit processes
- Escalating significant events to Head Retail Credit Risk
- Working with Absa Governance Risk Forums to develop assessment models for qualification product-related credit risk on mobile lending and impairment
- Ensuring the credit risk associated with new and changed products, services and processes is duly assessed
- Working with various senior stakeholders across various functions of Absa Bank Zambia and Group to provide insights into emerging risks and portfolio developments
- Ably coping with rapidly evolving priorities, good organization, logical thinking and problem-solving
- Supporting Head of Retail Credit facing off local and Centre senior management to ensure all queries are resolved in a timely manner.
Risk and Controls Objectives:
- Time split: 10%
- Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
- Understanding of your own role in the end-to-end processes in which you play a part, including applicable risks and controls.
- Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management
- Understand and manage risks and risk events relevant to the role
- Ensure timely reporting of all risk events/incidents/issues using the defined process for your business area and help to understand why these happened and how to prevent them in future
- Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented
- Ensure personal and team members complete all mandatory training timely
Education
Higher Diplomas: Business, Commerce and Management Studies (Required)