Recovery Officers - Addis Ababa/Assosa/Jijiga at Inkomoko

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Recovery Officers - Addis Ababa/Assosa/Jijiga

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Employer: Inkomoko

Employment: Full-Time | Permanent

Place of Work: Addis Ababa, Asosa, Jijiga - Ethiopia

Posted date: 1 year ago

Deadline: Submission date is over

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About the Company

Inkomoko supports entrepreneurs to grow their businesses to improve livelihoods, create jobs, and help communities thrive.

Founded in 2012, Inkomoko has worked with more than 60,000 entrepreneurs across East Africa, including thousands of refugee entrepreneurs. Inkomoko provides a combination of training, consulting, access to finance, and market-level systems change. We are the largest lender to refugee entrepreneurs in Africa.

Inkomoko has +390 staff in 30 offices across Rwanda, Kenya, Ethiopia, and South Sudan. Through Inkomoko’s 2030 strategic plan, we are adding 4 additional countries to improve the lives of more than 7.6M people by serving more than 550,000 entrepreneurs and investing $150M into refugee & host communities across Africa.

Company Values

All staff at Inkomoko are connected to a shared set of organizational values:

• Purpose: be solutions-oriented and produce high-quality work and be a global leader.
• Achievement: push yourself to reach beyond what you think is possible.
• Improvement: be humble and committed to continuous learning and growing through giving and receiving open and accurate feedback.
• Bravery: willing to take risks, create a safe space for others, and be compassionate, and inclusive.
• Turikumwe/Tuko Pamoja/ Abren Nen (“We are together”): appreciate your colleagues, celebrate success, and support each other in hard times.

Inkomoko reflects the communities we serve. Displaced persons and women are strongly encouraged to apply.

About the Opportunity

The Loan Recovery Officer's Key responsibility will be to alert, follow up, and recover defaulted loans by conducting site visits, coordinating with local authorities, manually settling overdue, blocking accounts of overdue clients, and solving the problems with overdue and defaulted clients.

Responsibilities

Loan monitoring (40%)

• Monitor the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
• Identify and escalate repayment irregularities for further management action
• Preparation of monthly portfolio report for Management decision
• Preparation of weekly portfolio reports for credit review meetings
• Compute weekly PAR reports including; product, individuals and SMEs PAR analysis
• Evaluate product performance through collection and data analysis
• Provide weekly report on turnover on loan accounts
• Maintain an effective trigger reporting system of credit impairments and propose corrective actions
• Provides support to Loan officers, loan managers and compliance officers on Non-performing loans
• Call, visit and send periodic reminders to loan customers on scheduled repayments
• Conduct post-disbursement spot checks on customers to confirm loan performance and utilization
• Monitoring defaulters' repayments to stop recurrent non-compliance
• Maintain PAR level in compliance with CBK regulations
• Follow up with the Finance department to reconcile payments received and real-time transaction postings
• Responsible for achieving the monthly PAR target
• Negotiate payment plans with defaulters
• Initiate receivership process with the lawyer

Debt recovery (60%)

• Monitor allocated portfolio of delinquent loan facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within predetermined broad policy guidelines and regulation to minimize credit losses
• Ensure compliance with Inkomoko’s Credit Policy and Procedures regarding the management of the debt recovery process
• Maintain and prepare monthly collections reports, updates and status
• Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
• Undertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recovery
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
• Ensure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with lawyer
• Develop and continuously review credit and recovery policies and procedures ensuring their compliance

Minimum Qualifications

The loan Monitoring and Recovery officer will be a trusted partner of Inkomoko Trustee clients, and basic qualifications Include:

• A university Degree in Finance, Business Administration or another related field
• Must speak fluent English and Amharic. Knowledge of other local languages is a plus
• Minimum of 2 years of banking or MFI experience in a credit monitoring /loan recovery role
• Knowledge of MFIs or banking operations, credit risk management, fraud management, Loan Recovery and Debt Management
• Prior experience dealing with customers/debt collection
• Decisive individuals with the ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors to pay off the entire debt
• Comfort with the civil court system, and previous experience in litigation preferred
• Unrelenting perseverance, personal integrity, and critical thinking skills
• Must be able to legally work in Ethiopia.

What You'll Get

This role is a tremendous opportunity to work in a high-growth, mission-driven organization. Our compensation includes a great working environment and competitive compensation:

• Competitive salary, and potential performance-based bonus
• Benefits include health insurance, annual leave, a staff savings program, parental leave for men and women, a sabbatical program, and more.
• Incredible company culture, including deep investment in your learning and growth.
• Opportunity to work with a talented team of professionals across the region.

TO APPLY

If you’re excited about this role, please submit your cover letter and CV through the application portal.

Inkomoko is committed to Justice, Diversity, Equity and Inclusion. As a company, we have policies that ensure fair treatment in the application process.

NB: Only shortlisted candidates will be contacted. We do not employ staff whose background is not suitable. 

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