- Provides assistance to the Manager in the coordination of debt collection and recovery functions which include: Inbound and outbound call strategies, negotiations, short-term and long-term payment assistance, loan restructuring, recovery action under powers of sale, repossession and disposal of pledged assets.
- Assists in controlling the escalation of arrears and minimize migration of assigned accounts to non-performing
- Supports the Team with the evaluation of member financial circumstances, problem resolution, escalations and the development of recommendations to assist the member and mitigate losses to the Society.
- Coordinates the use of debtor tracking and other arrears management tools and performs periodic reviews to ensure that proper tracking is in place to effectively evaluate and improve processes and metrics within the Unit.
- Monitors and analyses engagement and collection targets on an ongoing basis, to ensure they remain within SLA.
- Conducts periodic reviews of existing systems, procedures and workflows to ensure highest level of member service, productivity, internal control and legal compliance.
- Assists in the management of vendor relationships and vendor performance, including attorneys, bailiffs, repossession companies and collection agencies, to ensure the highest standard of care to members in accordance with the Society’s Rules, Policies, Procedures and Standards.
- Assists Manager in facilitating periodic Audit and Regulatory reviews and providing response.
- Assumes lead role in the Assistance Programme, through the establishment of payment arrangements; receive and assess applications for moratorium, loan restructure/renegotiation and prepares proposals/recommendations for Adjudication.
- Provides direction and guidance to the Loan Servicing Officers in the Engagement, Monitoring, and Negotiation Functions:
- Coordinates the assignment of member accounts for daily management and monitoring and keeps members fully informed of account status; changes and pending changes.
- Works closely with ICT for the generation and delivery of relevant arrears management reports on a timely basis and closely monitors the dispatch of periodic electronic notices to members.
- Works closely with Branches, the Member Engagement and Business Operations Departments to ensure customer records are updated with all channels of contact for primary and secondary borrowers
- Work closely with Branches, Business Operations and Accounting and Support Departments to Investigate and resolve payment issues and discrepancies on loan accounts.
- Supports the recovery processes consistent with the Public Auction and Private Treaty Standards and Procedures and in accordance with established SLAs. Assist in executing the Foreclosure process as required.
- Performs and monitors quality control checks on all day to day account maintenance activities on the core banking system and the supporting arrears management tools.
- Assists the Manager with the coordination and execution of work by external partners and professionals (eg. Attorneys, Valuators, Auto Accessors, inspectors and Bailiffs). Performs quality control checks through review of the accuracy and consistency of valuation and other external professional reports.
- Coordinates the preparation of monthly analysis reports to feed management reporting as set out in the Standards and Procedures and in accordance with established SLAs.
- Assists the Manager with ongoing assessment of the loan portfolio to identify trends and lessons learned to guide management decision and recommendation on future lending.
- Assumes the role of Subject Matter Expert (SME) on relevant projects being executed by the Society from time to time.
MINIMUM EDUCATION AND EXPERIENCE REQUIREMENTS - Bachelor’s Degree in business administration, Banking, Finance or related field
- At least three (3) years working in a lending or loan servicing environment at the supervisory level or above
- Exposure to the fundamentals of Credit Analysis
- Loan Delinquency/Non-Performing Loans management
- Prior experience in credit underwriting and/or loan administration in mortgage, consumer and corporate lending environment
- Sound knowledge of the Loan Sub-system of the core banking system used by VMBS- Signature 10
FUNCTIONAL AND TECHNICALBUSINESS EXPERTISE - Strong oral and written communication skills
- Ability to work well with persons at all levels
- Responsible and organized approach to work
- Ability to work on own initiative and as part of a team
- Ability to lead a diverse team
- Ability to cope under stress/busy periods
- Courteous, tactful and pleasant
- Computer literate
- Maintain confidentiality
- Stress Management
- Ability to resolve all complaints at first point of contact
- Strong negotiating skills
- Effective debt management counseling skills
- Good people management skills
- Sound knowledge of Loan Servicing/Delinquency Management
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