Collections & Recoveries Manager – Letshego

Job Summary

A job vacancy have risen within Letshego Financial Services Pty Ltd , a subsidiary of Letshego Holdings Limited summary for the role entails; To ensure that collections and recoveries are managed efficiently and meet business objectives To execute a collections and recoveries strategy that maximises prospects of full collection from overdue payments through implementation of collection activities and controls that effectively manages delinquency ratios and losses, whilst maintaining customer goodwill.

Job Details

• Ensure that efficient policies and procedures are in place to manage and control collections and recoveries within Letshego and they are compliant with the country’s regulations.
• Develop and implement an adequate and relevant collection strategy commensurate with the size and risk of the portfolio, to minimize delinquency and bad debt exposure
• Analyze and monitor the delinquency and charge-off trends within the portfolio.
• Utilize data and analytics to identify high-risk accounts and implement proactive measures
• Create significant capability in Collections and Recoveries Analytics to ensure that all collection and recovery activities are carried out in compliance with the agreed standards and with due recognition of the regulatory guidelines within the country and the overall Operational Risk Framework.
• Ensure that all risks in Collections & Recoveries processes are identified, measured, monitored and controlled.
• Leverage technology and automation tools to enhance efficiency in the collections process
• Ensure timely closure of control issues raised by operation risk team as well as ensuring closures with no repeats in the collections area.
• Account for compliance with Operational Risk, against money laundering guidelines, reputational risk and local regulations on collection activities, and data confidentiality policies.
• Ensure timely, accurate submission of reports and information is highlighted immediately.
• Ensures adherence to collection processes, procedures from late stage collection, pre prescription and post write-off recoveries
• Ensure the adequate resourcing of support centres to effectively collect on accounts and ensuring that the correct activities are undertaken on accounts;
• Lead and manage a team of collections specialists, providing guidance, mentoring, and performance feedback.
• Develop and implement training programs to enhance the team’s skills in negotiation, communication, and compliance.
• Collaborate with cross-functional teams to implement data-driven decision-making processes and continuous improvement initiatives
• Stay informed about changes in regulations affecting collections and implement necessary adjustments to policies and procedures.
• Strive to balance the organization’s financial objectives with maintaining positive customer relationships
• Strong understanding of credit risk and collections strategies to maximise benefit from opportunities that arise
• Strong understanding of portfolio management
• Knowledge of collections software and technologies

Requirements

• A degree in Accounting / Finance / Banking//Economics or similar
• Master’s in Business Administration would be an added advantage
• At least 12 years’ experience in Collections & Recoveries within financial services of which 5 years should have been at a managerial role
• Experience in credit management or collections gained in Consumer Finance, retail SME or microfinance environment
• Proven track record of NPL management, working with EDCs and tracers
• Good knowledge of current industry threats, trends, technologies and issues that potentially affect the organization’s business
• Strong business acumen
• Strong knowledge of regulatory requirements and compliance issues related to collections
• Ability to identify key risk issues that may impact on the recovery of assets funded
• Analytical mindset with the ability to use data to drive decision-making

About Company

Letshego Financial Services Botswana

Letshego is a Setswana term meaning ‘support’. At Letshego we provide financial support to our customers. Our new brand mark is a stronger, bolder and more modern depiction of the Letshego tripod.