Recovery Manager at Letshego MFB

Role summary:

• This role is responsible for leading the development and implementation of efficient and effective recovery processes and systems, with a focus on maximizing recoveries.
• The individual will also oversee write-off management, account blacklisting, and arrears recovery. The ideal candidate should be able to foster strong working relationships with team members to ensure smooth business operations while also having the confidence and authority to challenge existing practices when needed

Key Responsibilities

• Implement and manage credit policies and external regulations related to arrears recoveries, including coordination with tracers, debt collectors, loan rescheduling, and legal actions.
• Supervise recovery efforts through internal/external tracers, debt collectors, and loan rescheduling, ensuring alignment with company goals.
• Oversee and optimize arrears recovery processes, addressing any shortfalls promptly while managing team performance and resources.
• Manage the issuance of past-due and demand notices, ensuring compliance and effectiveness in the recovery process.
• Prepare and present monthly reports on recovery rates, and lead collaboration with Collections for customer handovers, ensuring smooth transitions and efficient operations.

Education and/or Experience Required

• A degree in Finance, Accounting, Business Administration, or a related field
• Relevant certifications in credit management, debt recovery, or other relevant certifications.
• At least 5 years’ experience in collections and recoveries, with expertise in optimizing recovery processes and managing loan rescheduling and credit risk mitigation within the Financial Services.
• Proven ability to lead teams and collaborate with external tracers, debt collectors, and legal teams to drive recoveries while ensuring regulatory compliance.