Manager, Delinquency & Recoveries

Leads delinquency management and recoveries by overseeing NPL portfolios, guiding team performance, negotiating repayment solutions, and executing recovery strategies. Ensures regulatory compliance, monitors credit risk, and supports decisions to minimize losses and optimize portfolio performance.

JMMB BANK (JAMAICA) LIMITED 

JOB TITLE:                                     Manager - Delinquency Management & Recoveries 

DEPARTMENT:                              Credit Risk Management

SECTION/UNIT:                            Delinquency Management and Recoveries

REPORTS DIRECTLY TO:              General Manager - Credit Risk Management

IMMEDIATE REPORTEES:             Delinquency Management Officers and Debt Recoveries Officers

SCOPE OF JOB: 
Responsible for providing leadership and managerial direction for the delinquency and recoveries management unit and developing, communicating and executing effective delinquency management, collections, non-performing loan recovery and remedial strategies within a risk management framework, so as to maximize the recovery of debts. Also undertake proactive monitoring of performance of borrowers, compliance with credit terms and conditions and making actionable recommendations to senior management and credit committees to minimize loss and ensure efficiency, accuracy and speed.

MAIN DUTIES AND FUNCTIONS

• Manage the Delinquent and Watch-Listed portfolio activities as performed by Delinquency Management Officers.
• Review delinquent loan listings and take the appropriate actions to remedy the loans by preventing deterioration to the non-performing loan category.
• Ensure adherence to preparation of delinquency letters and follow up sheets in accordance with the delinquency management procedures.
• Review Marginal and Newly Classified Non-Performing Loan reports prepared delinquency officers and lending officers for sign-off prior to submission to the Senior Manager or General Manager, Credit Risk Management and/or the Management and Board Credit Committee.
• Review (daily, weekly, monthly) overdraft reports to ensure that limits are not exceeded unless arrangements are previously made and approved by the relevant authority in accordance with the Group Credit Risk Policy and report on excesses.
• Monitor the Non-performing Loans (“NPL”) recovery activities as performed by Debt Recoveries Officers and manage all recovery, liquidation, receivership actions.
• Manage NPL portfolio and ensure appropriate decisions are taken to meet with Borrowers, lead negotiations on Borrowers delinquency, establish repayment arrangement and/or explore compromise settlements for approval.
• Ensure adherence to preparation of NPL letters in accordance with the recoveries management procedures, review correspondences received and ensure prompt response, and any other company policy, statute, law, regulations, guidelines governing the functions.
• Make appropriate decisions on which accounts are assigned to the Bailiff for repossession of pledged security, and arrange for storage and subsequent sale.
• Make appropriate decisions on which accounts should be sent to the Attorneys with instructions regarding Statutory Notice, Public Auction, etc. including instructions for Carriage of Sale and lead negotiations as it relates to legal matters.
• Liaising with valuators, surveyors, real estate agents where applicable to obtain professional input to support proposed recovery actions.
• Ensure preparation of Non-Performing Loans report within five (5) working days of month-end and review for sign-off prior to submission to the Senior Manager or General Manager, Credit Risk Management and/or the Management and Board Credit Committees.
• Monitor the Bank’s total loan portfolio to identify loan accounts exhibiting significant increase in credit risk and ensure the accurate classification of loans in the respective stages to determine the level of provisioning required.
• Undertake quarterly assessment of the Bank’s total loan portfolio to determine the adequacy of Expected Credit Losses (“ECL”) in accordance with International Financial Reporting Standards (“IFRS”), Bank of Jamaica Regulations, the Bank’s guidelines and make appropriate recommendations to the Senior Manager or General Manager, Credit Risk Management for their consideration and decision.
• Submit quarterly loan provisioning assessment to the Financial Control Unit, Management Credit Committee and Board Credit Committee for consideration and approval.
• Recommend debts for “Write Off” and maintain records of Debts Written Off and Recoveries and ensure effective recovery actions are put in place to maximize recovery on written off loans.
• Ensure maintenance of an efficient filing and documentation system, both hard copy and electronically, to allow for providing evidence, information with respect to monitoring of the clients, which includes both verbal and written communication. This must stand audit scrutiny and be able to support any legal action and support impairment testing in accordance with IFRS requirements.
• Assess periodic industry review prepared by Group Risk and make appropriate recommendations on reductions in Industry Concentration.
• Perform other related duties as assigned.

Team Management

• Provide coaching and development for all reportees including the preparation of Personal Development Plans and Personal Balances Score Cards (“PBSC”) to ensure that team members are engaged and motivated and are a fit for the role assigned.
• Manage delinquency management team’s performance to ensure that all team members are delivering as per role expectations.
• Assists in providing direction, fostering teamwork, leading and managing in a manner to excite Team Members to excellence and to facilitate efficient, effective, caring operations.
• Assists in the review and approval of requests for leave and/or time off, as is required and within Company guidelines.
• Assists in the submission of other approved Leave Requests (e.g. maternity, No Pay to CHDT) within the guidelines set by Company Policy.
• Assists with conducting clean-ups as required to ensure that team is cohesive and harmonious and that the team spirit is in keeping with JMMB’s partnership contract.
• Develops others through training on internal processes and procedures.
• Promotes the JMMB’s philosophy of the Vision of Love and its unique culture.

EDUCATION, TRAINING & WORK EXPERIENCE REQUIRED:

• First Degree with specialization in Finance, Banking, Accounts, Business Administration or equivalent qualifications.
• Minimum Five (5) years of experience in banking environment with direct experience in remedial management, recoveries, strategic planning, business management, and financial decision-making, minimum two (2) years of which to include Supervisory experience.
• Strong knowledge of credit administration, collateral assessment for loans/advances, loan delinquency management and recoveries procedures. 
• Thorough knowledge of Microsoft word and spreadsheet applications.
• Excellent knowledge of the financial sector laws, regulations, ethics and professional jargon.
• Deep understanding of consumer behavior and the operation of the business sector.
• Excellent communication skills, oral and written and very good inter-personal skills.

• Experience in Relationship Management/Loan Origination role within Retail, SME and Corporate Banking would be an asset.
• Ability to negotiate with Borrowers under stressful circumstances and structuring of deals while protecting the Bank’s position.
• Strong analytical skills and ability to anticipate and solve problems timely.
• Excellent decision-making and time management skills.
• Investigating and resolving complex and thorny credit history to determine and substantiate level and probity of debt.

AUTHORITY:

• To develop strategies for achieving delinquency and recoveries targets.
• Track key performance indicators of the unit to ensure that the Bank’s targets are met on a monthly basis.
• Instructions to Central Processing Department for applications of payments.
• Issuance of Delinquency Letters and Demand Letters to clients.
• Key decisions around intention to dispose of securing assets.
• To recommend bad debt write off.
• Represent the department at Asset and Liability Committee (“ALCO”), Management Credit Committee (“MCC”), Board Credit Committee (“BCC”) meetings regarding delinquency and recoveries matters.
• To set deadlines and prioritize steps for reportees.
• To recommend or to implement awards and/or disciplinary action for a Team Member.
• To recommend the employment or non-employment, movement or termination of Team Members.