| Job description: |
Key Outcomes:
- Loan Repayment Monitoring
- Daily loan repayment schedules to identify due and overdue accounts reviewed.
- Loan management system (LMS) for borrower payment status checked and missed payments flagged
- Repayment logs and reports updated to reflect payments received and outstanding balances
- Automated or manual reminders (SMS, email, calls) sent before and after due dates
- Delinquency reports to track trends in overdue accounts by age (e.g. 30, 60, 90+ days) generated
- Cross-check bank statements for repayments received against expected amounts verified.
- A repayment calendar to follow up on scheduled instalments maintained.
- Relevant EM alerted for non-performing or high-risk accounts.
- Corrective actions, such as rescheduling loans or early intervention strategies recommended
- All repayment monitoring activities in line with internal policies and procedures ensured
- Client Communication
- Contact with clients through calls, SMS, emails, or in-person visits for repayment reminders initiated.
- Repayment status with borrowers discussed in a professional and respectful manner.
- Repayment arrangements or restructuring options where clients face genuine hardship negotiated.
- Clients educated on loan terms, interest rates, penalties, and their financial obligations.
- Document all communication and agreements made with clients in the loan management system documented.
- Formal notices for overdue accounts issued (e.g. demand letters, final reminders).
- Coordinaton with legal or recovery team for escalated communication if payment remains unpaid.
- Financial responsibility promoted and guidance on staying current with payments provided.
- Rapport built with clients to encourage cooperation and positive relationships maintained.
- Reporting
- Daily, weekly, and monthly reports on collections, arrears, and recoveries generated.
- Delinquency aging reports (e.g. 30, 60, 90+ days overdue accounts) prepared.
- Repayment performance by portfolio, officer, or region tracked and reported.
- Non-Performing Loan (NPL) statistics and trends for management review compiled.
- Exception reports highlighting missed targets, repayment gaps, or high-risk clients submitted.
- Audit reporting assisted by providing up-to-date loan and repayment data.
- A central dashboard or tracker for real-time loan collection performance maintained.
- Data accuracy in loan management and reporting systems ensured.
- Board and management reporting with timely, clear summaries and charts supprted.
- Recovery & Follow-Up
- Delinquent accounts (e.g. 30, 60, 90+ days overdue) identified and classified.
- Recovery plans for overdue borrowers developed based on risk and repayment capacity.
- Follow-up calls or visits to recover overdue payments conducted.
- Partial or full settlements, repayment plans, or restructuring where applicable negotiated.
- Formal recovery notices (e.g. warning letters, final demand, legal notice) sent.
- Legal recovery actions for non-performing loans (in coordination with legal team) initiated.
- Compliance with agreed recovery/payment plans monitored and action taken if default continues.
- Loan management system with follow-up notes, payment promises, and outcomes updated.
- Recovery status reports (daily, weekly, monthly) prepared and submitted to management.
- Compliance & Documentation
- Ensure all loan collection activities comply with internal policies, regulatory guidelines, and lending laws.
- Verify loan agreements, securities, and supporting documents are complete and properly filed.
- Maintain accurate records of all borrower interactions, repayments, and recovery efforts.
- Document client promises to pay, restructuring terms, and revised repayment plans.
- Ensure proper filing of legal notices, demand letters, and communications recovery.
- Check for compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
- Ensure confidentiality of borrower data and restrict access to authorized staff.
- Update loan files regularly with repayment receipts, correspondence, and status updates.
- Support audits and reviews by providing complete and compliant documentation.
- Report any breaches or irregularities in loan handling to compliance or senior management.
- Client Education & Support
- Loan terms and conditions explained clearly during disbursement or follow-ups.
- Borrowers educated on interest rates, repayment schedules, and penalties for late payments.
- Guidance on budgeting and financial planning to help clients manage repayments provided.
- Clients advised on early repayment benefits and how to maintain good credit standing.
- Clients assisted on understanding their statements, account balances, and loan status.
- Clients facing financial difficulties supported by explaining available relief or restructuring options.
- Responsible borrowing practices and awareness of over-indebtedness risks promoted.
- Educational materials or FAQs on loans and financial literacy distributed.
- Long-term relationships based on trust, transparency, and mutual understanding built
- Collaboration
- Work closely with Loan Officers to understand borrower background and loan conditions.
- Coordination with the EM and Legal Department to assess and flag high-risk accounts.
- Liaision with the Legal Department on recovery actions, notices, or litigation for non-performing loans.
- Accountant Finance or Finance Team engaged to reconcile payments, refunds, and write-offs.
- Collaboration with Loan Officer to handle client complaints or disputes related to collections.
- Regular cross-functional meetings with the Team to discuss loan performance, recovery targets, and case updates attended.
- Field insights and feedback to improve loan products and collection strategies shared.
- Internal audits or compliance reviews supported by providing accurate data and reports.
- Restructuring or hardship cases referred to the relevant EM for formal review.
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