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Loan Servicing Officer
Student Loan Bureau
- Kingston and St. Andrew
- See description
- Permanent full-time
- Updated 04/05/2023
- HR
Managing a portfolio of loan accounts.
The Students’ Loan Bureau (SLB) invites applications from suitably qualified persons for the following position:
Loan Servicing Officer (Grade 4B)
The incumbent is responsible for:
- Managing a portfolio of current loans accounts.
- Monitoring and enhancing repayment by establishing structured payment plans.
- Preventing the migration of current accounts to the Watch Unit (30 days past due and over).
- Providing balances and responding to queries as requested by beneficiaries.
- Identifying and effecting closure of all accounts within the queue assigned.
- Ensuring as far as possible that all accounts are kept current in order to minimize financial loss to the Students’ Loan Bureau
Scope of Responsibilities
- Monitoring of all accounts in the queue assigned for closed accounts, missed payments
- Verifying that on a monthly basis interest is updated on all moratorium accounts for accounts in the queue assigned
- Verifying request for demographic changes and examining required documentation which after review are passed to the Manager, Loan Servicing Department for next day verification
- Ensuring that approved activities that carry a financial impact are updated on the clients’ accounts and the necessary documentation passed to the Manager, Loan Servicing Department for next day verification
- Making suitable and sustainable repayment arrangements with borrowers and recommend for approval.
- Performing the necessary paper work for graduation date changes and guarantor change and accounts placed into immediate repayment
- Updating of the system with comments from the clients, referees and co-signers and initializing those comments for tracking purposes.
- Maintaining computerized diary system for payments and follow up
- Responding to correspondence and queries from clients, via telephone, mail, fax or walk in customers (within the agreed period)
- Advising the Secretary, Loan Servicing Department when action has been taken on an assigned item in order to update the correspondence log
- Forwarding a copy of all correspondence to the Secretary to create a departmental reading file for circulation to Senior Management
- Assisting the Manager, Loan Servicing Department with collections report on a monthly basis
- Assisting the Loan Processing Department when required
- Any other related duties that may be assigned for the smooth running of the company
Qualifications and Experience
- First Degree in Accounting, Finance or Management Studies
- Two (2) years collections/accounting experience of which one should be within a financial organization
Specific Knowledge Required
Knowledge of:
- collection practices, procedures and techniques
- the relevant sections of the Students’ Loan Fund Act
- the Students’ Loan Bureau’s policies and procedures
- computerized accounting information systems
Skills, Behaviours and Competencies Required
- Good human relations skills
- Good organization & analytical skills
- Ability to communicate effectively both orally and in writing
- Training in Accounting Software Systems
- Good Problem Solving Skills
Remuneration Package
- Basic Salary $1,550,136.00 - $2,084,761.00
Applications along with résumés should be forwarded no later than Monday, May 17, 2023 to:
Manager, Human Resource & Administration Department
Students’ Loan Bureau
Sagicor Sigma Building
63-67 Knutsford Boulevard
Kingston 5
We thank all applicants for their expressions of interest, however, only shortlisted candidates will be contacted.
Ref: Loan Servicing Officer
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