Jamii Sacco is a savings and credit society: it was registered in 1972. Our offices are at Mariakani South B along Mukenia Road. The Membership is open to all traverses in the whole of Kenya.
Job Summary
Reporting to the Deputy CEO/Head of Finance, the job holder is responsible forcoordinating the debts of existing creditors and ultimately managing all money borrowedor owed to the business by handling the collection of due and overdue accounts, raisinginvoices and issuing credit notes.
Qualifications & Requirements
Bachelor’s degree in Finance, Accounting, Banking, Credit Management or anyother related field from a recognized institution.
Professional qualifications in Credit Management (Certified Credit Professional)3
CPA-K or Diploma in cooperative management is an added advantage.
Minimum of 6 years’ relevant experience in Credit Administration or LoanManagement gained from working at management level in a FinancialInstitution/SACCO
Strong analytical and communication skills, negotiation skills and interpersonalskills, focused, self-driven and attentive to detail.
Ability to multitask and meet required deadlines is essentials
Ability to resolve conflicts arising in the work environment is necessary.
Ability to work with minimum supervision.
General Requirements :
Planning & Organizing
Leadership
Entrepreneurial Awareness
Decisiveness and adaptability
Other Requirements :
Police clearance certificate (Certificate of Good Conduct)
Tax compliance certificate from the Kenya Revenue Authority (KRA).
Clearance certificate from the Ethics and Anti-Corruption Commission (EACC).
Clearance certificate from Credit Reference Bureau (CRB)
Responsibilities
To plan, implement, co-ordinate and review the Credit Management Strategies.
To provide leadership to the Credit Control team and liaise with otherDepartments to ensure prompt collections.
Oversee the entire collection process including continuously reviewing CreditControl policy in line with changing trends and needs.
Provide inputs to the appropriate Board Committee to ensure measures aretaken to rectify any identified gaps in the lending and collection process.
To critically review all non-performing accounts and develop appropriatestrategies to ensure recovery of the amounts due in an efficient and costeffective manner.
Design and implement processes of monitoring and rehabilitating delinquentaccounts, in order to ensure that PAR is below regulator’s recommended rate.
Maximizing recoveries from write off accounts.
To ensure a uniform debt collection strategy in line with the Society’s policies toavoid reputation risk or legal challenges.
Undertake periodic review of securities held against all non-performing accountsin order to ensure they are perfected and that no dilution happens during thedebt recovery period.
Plan and coordinate the debt recovery process with various service providers(Lawyers, Valuers and Auctioneers) in order to avoid undue delay and escalationrecovery costs.
Ensure the relevant evidence in support of any Legislation matters are properlydocumented, shared with the key stakeholders in good time and ensuring thesewitnesses are well prepared with factual and relevant information.
Providing periodic reports to Management and respective Board Committee onthe recovery status of each non-performing facility, with clear recommendationson the way forward.
Liaising with the Head of Finance to ensure appropriate adjustments are made tothe provisions for bad & doubtful debts as per the required guidelines in order tocomply with IFRS-9 requirements.
To manage the Credit team so that it can achieve the Sacco’s set targets in linewith business goals.
To follow up all cases of default including addressing letters to the loanees andguarantors.
To draft and issue appropriate notices to members who may require loanclearances.
To ensure that all notices are issued to defaulters before engaging debt recoveryaction through service providers ( Auctioneers & Debt Collectors)
To negotiate and restructure facilities where such action increases chances ofrecovery of the debts outstanding.
To follow up all employers to ensure timely remittances
Impact of Results :Leads to effective recoveries of any outstanding loans/remittances owed to the SACCOfrom either corporate, groups or individuals (members).
