23 May 2017

Head of Recoveries Employment Opportunity - DFCU Bank

Job Title:            Head of Recoveries
Organisation: DFCU Bank
Duty Station: Kampala, Uganda
Reports to: Head of Credit

About US:
DFCU bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.

Job Summary: The Head of Recoveries will manage and work with a team to minimize credit losses by constantly improving the collections on NPLs and, recoveries on the write-off portfolio. The Head of Recoveries will work with financially vulnerable customers after they have defaulted on their facilities to repay the Bank. Accordingly, the portfolio managed consists of a wide breadth of customers and clients ranging from small owner managed business and individuals, through to large corporate companies. The jobholder proactively manages a non performing portfolio to ensure optimal performance of facilities and minimise losses to the Bank, hence greatly and directly contributing to the Bank's bottom line (P&L).

Key Duties and Responsibilities:  
  • Establish an effective specialized recoveries team, structure, systems and controls, ensuring that all the required functions are adequately and timeously addressed and ensure that people management and development frameworks and processes, including: performance management, capacity building, talent management are achieved as required.
  • Manage and control collection strategies and campaigns within the NPL and write-off portfolio with the aim of maximizing collection effectiveness and efficiency.
  • The jobholder will identify, understand and navigate through a high variety of potential complex financial structures to establish respective party's liability and pursue multiple repayment solutions accordingly.
  • Keenly analyse financial information from a variety of sources (Bank systems, own due diligence, customer financial statements, etc.) and apply judgment to this information to formulate appropriate strategies with each customer.
  • Assess customers financial position, primarily through obtaining an up to date financial position from customer and applying judgement and challenge to this in line with own due diligence to ensure that repayment plans are both affordable to customers and provide the Bank with the most effective method of recovery.
  • The jobholder will interact with the credit sanctioning team to manage cases and provide clear and thorough rationale for the decision sought.
  • Ensure timely referral to Legal when turnaround of a non performing account is not possible and ensure foreclosure and/or recovery actions are done in the most cost effective manner to minimize losses & ensure that there is no negative publicity (reputational risk).
  • Provide timely, relevant & accurate reporting and analysis of collection/recovery results against historical & projected goals to the Bank's management team on a regular basis.
  • Manage instruction to agents, outsourcing to a debt collection agency, consideration of litigation action in liaison with the legal department, agreeing level of repayment/settlement and as a consequence Bank loss all fall within discretion.
  • Manage the portfolio of non-performing accounts in line with external regulatory expectations, the Bank's policies and procedures. At all times operate within recoveries foreclosure procedures and policies, the Bank’s wider policies and within the external regulatory environment.

Qualifications, Skills and Experience:
  • The applicant for the DFCU Head of Recoveries job opportunity must hold a Bachelor's degree in Economics, Statistics, Commerce, Business Administration or equivalent.
  • At least five to seven years’ experience in a Financial Institution with at least 4 years in special assets and bad debt management.
  • Credit and Financial analysis skills
  • Keen attention to detail
  • Self-driven and ability to work under minimum supervision.
  • Broad awareness of business issues & current economic events.
  • Broad knowledge and understanding of FIA/IFRS guidelines & regulations on asset quality.
  • Good knowledge of the local legal system/framework, corporate finance, insolvency law and security issues.
  • Excellent interpersonal, written and oral communication skills.
  • Excellent negotiation skills with a commercial focus.
  • Decision making skills and the ability to resolve contentious issues.
  • Leadership, management & team building skills.
  • Result-oriented
  • Good knowledge of the Bank’s service standards including the complaint handling procedures and Financial Consumer Protection Guidelines.
  • Ability to exercise the highest level of responsibility and confidentiality.

How to Apply:
All candidates who so wish to join the banking sector in the aforementioned capacity are encouraged to send their applications with detailed CVs including present position and copies of relevant professional/academic certificates to: Vacanciesbank@dfcugroup.com

Deadline: 24th May 2017

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