Manager – Special Assets – Collections & Recovery recruitment
Role descriptionManages collections and recovery of all non-performing, sub-standard, delinquent accounts of the Bank's Credit portfolio, by drawing up and implementing recovery policy / work out strategies to ensure that adequate recovery is made to contribute to the Bank's net profit.
Develops and reviews the Bank's recovery policy and works out strategies for the Bank in consultation with the CEO, Head of Legal and Special Assets Division and Head of Credit Risk Management and Advances (CRMA), so that the Team Leaders of Corporate Special Assets and Retail Special Assets and their respective staff may work effectively to produce a higher recovery percentage.
Drives, designs and manages the entire recovery and collection process, manages monthly debt charges as per collection budget, makes recovery from provisioned accounts, liaises with external agencies related to recovery tasks, recommends cases for write offs- if no recovery made despite all efforts.
Assesses the risk of collection proposals as per Delegation of Authority and make prudent collection and recovery decisions.
Manages collections i.e. early delinquent cases and maintains ongoing relationships with customers (long term retention approach); manages recovery from delinquent accounts while severing relationship with customer (economics approach); other activities include tracing skip customers and handling suspected / confirmed frauds.
Manages and monitors collections portfolio by building appropriate methodology to measure portfolio risk and using analytical MIS tools to measure leading, coincident, lagging and vintage indicators; forecasting arrears analysis and credit losses.
Manages litigation and debt collection processes through approved external agencies and optimizes cost effective recovery of delinquent accounts resulting in release of provisions held and thereby contribute to Bank's profit.
Evaluates and reports periodically to management on classified portfolio with strategies in place for work out / litigation / write-off as may be appropriate for default customers.
Co-ordinates with Branch / CRMA Division on the developments of the recovery and assistance required to strengthen the security cover in case of delayed recovery.
Contributes to development of staff by assigning them to relevant training programmes, evaluating performance and ensuring adequate capacity to handle overdue accounts and optimize collections.Who we're looking forIncumbent should possess the ability to assess good poor quality collection / recovery risks and exercise prudent judgment in evaluating risk at both the transaction level and in the portfolio context. Should have the ability to create suitable control points in collections and recovery process with the objective of enhancing the effectiveness risk monitoring activities, and to judge and negotiate when implementing recovery account exit strategies whilst maintaining customer's goodwill and protecting the Bank's interest.
Degree : L.L.B or equivalent degree in Law from a recognized University.
Minimum 7 years experience related to recovery / collection activities of a Bank's Asset portfolio of which at least 3 years should be at a supervisory level.
Good understanding of commercial / retail Business
Sound collection techniques and MIS skills ( Risk management)
Sound decision making and change management skills
Good negotiation and networking skills with internal and external customers
Good knowledge of legal and regulatory procedures for debt recovery
Good standard of verbal and written communication skills in English and Arabic
Leadership and managerial skills