BRAC Bank Uganda Limited
Description
BRAC Bank Uganda Limited is hiring Loan Collection Officers to manage the bank’s written-off portfolio and loans at risk of write-off, recommend and implement remedial action to increase the bank’s profitability by collecting all monies owed, in line with the bank’s recovery policy and existing laws.
Reports to: Loan Collection Supervisor
Main Job Responsibilities
- Thoroughly review the delinquent portfolio to identify causes of default and recommend timely remedial action.
- Classify existing and future delinquent accounts into Watch, Substandard, Loss, and Written-off categories to provide suitable remedial actions.
- Identify, review, and assign loan accounts to external debt collectors upon approval, monitoring closure by court bailiffs.
- Manage the Portfolio at Risk (PAR) for top big loans in your division, ensuring it remains within institutional acceptable levels.
- Provide proactive initiatives to minimize loans classified under the Loss category, impacting Net Book Value (NBV).
- Initiate recovery proceedings for non-performing accounts in coordination with the Manager Loan Collections, Legal Department, and external debt collectors.
- Plan and coordinate with branch management to implement recovery of written-off and non-performing loans per bank policies and guidelines.
- Prepare and submit timely reports with clear recommendations on all cases under your supervision to the Manager Loan Collection or Division Manager.
- Mentor, coach, and build capacity of field staff on best practices in recovery and management of delinquent loans.
- Negotiate with debtors to ensure repayment at the lowest cost to the bank.
- Onboard and manage the performance of external debt collectors, ensuring timely submission of monthly status reports.
- Ensure branches conduct regular delinquency meetings to discuss non-performing loans and provide timely remedial actions.
- Oversee credit-related cases against the bank, including those handled by external lawyers in litigation.
- Monitor all cases managed by external lawyers and provide timely status reports to your supervisor.
- Manage contracts with debt collection service providers (e.g., auctioneers, bailiffs, valuers, insurers, lawyers) and ensure timely renewals.
- Supervise sales of pledged assets, ensuring all default amounts plus costs are paid, and any remaining balances are returned to the borrower.
- Maintain a sound filing system for contracts, service level agreements, litigation cases, external debt collector cases, commission invoices, and other relevant documents.
- Collaborate with the Division Manager to make timely decisions to prevent loans from entering the Loss category.
- Profile high-risk satellites, top big defaulters, and written-off loans, ensuring timely recovery actions to normalize affected satellites.
- Bachelor’s degree or Diploma in Business-related courses.
- Certificate in Law is an added advantage.
- Legal knowledge and skills.
- Analytical and investigation skills.
- Knowledge and understanding of the Financial Institutions Act (FIA).
- Excellent recovery skills.
- Ability to work under pressure and overtime.
- Teamwork-oriented with a willingness to guide and train others.
- High level of integrity.