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Job Summary
Job Title:
Collections and Recoveries Officer
Employer:
Absa Bank
Location:
Country:
Contract Type:
Full-time
Job Category:
Finance Jobs
Number of Positions:
1
Deadline:
Sunday, 12 May 2024
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Collections and Recoveries Officer job at Absa Bank | Apply Now
Kampala, Uganda
Absa Bank Uganda Limited is part of Absa Group Limited, an African financial services group that aims to be the pride of the continent. Absa Group Limited is listed on the JSE in South Africa and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42, 000 employees.
Absa Bank Uganda Limited is a reputable and innovative financial institution dedicated to empowering individuals and businesses with a comprehensive range of banking solutions that drive sustainable economic growth and community development. With a mission to deliver exceptional financial services and foster lasting customer relationships, the bank has earned significant recognition for its market leadership, commitment to excellence, and strong ethical standards.
Evolving from its humble beginnings into a major player in Uganda’s banking sector, Absa Bank Uganda Limited boasts a dynamic work culture that promotes diversity, continuous learning, and employee empowerment through competitive benefits, flexible work arrangements, and ample career opportunities. Leveraging a modern business model and cutting-edge technology, the bank maintains a broad reach and robust presence in the region, underpinned by core values of integrity, innovation, and customer-centricity.
Its dedication to corporate social responsibility is evident in its active support for community initiatives, educational programs, and environmental sustainability efforts. For more information, visit [Company Website].
Are you looking for Finance Jobs in Uganda 2024? If yes, then you might be interested in Collections and Recoveries Officer job at Absa Bank
Full-time
Deadline:
12 May 2024
Collections and Recoveries Officer job at Absa Bank
Absa Bank
Job Description
Duties, Roles and Responsibilities
Qualifications, Education and Competencies
To provide advice and support in operational management and to develop, maintain and enhance operational business relationships, through the execution of predefined objectives as per agreed SOPs.
See all details of the qualifications, competencies and education for this role under the "How to Apply" section below.
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Contacting Customers: Reach out to customers via phone, email, or mail to remind them of overdue payments and negotiate repayment terms. Maintain professionalism and empathy while communicating with customers to encourage payment without causing undue stress.
Developing Payment Plans: Work with customers to establish manageable repayment plans based on their financial situation and ability to pay. Customize repayment schedules and terms to ensure that customers can meet their obligations while also satisfying the organization's requirements.
Investigating Delinquent Accounts: Investigate delinquent accounts to understand the reasons for non-payment and assess the likelihood of recovery. This may involve analyzing financial records, reviewing payment histories, and contacting third parties for additional information.
Negotiating Settlements: Negotiate settlements with customers who are unable to pay the full amount owed. Determine acceptable settlement offers based on factors such as the age of the debt, the customer's financial circumstances, and the organization's policies.
Recording and Updating Information: Maintain accurate records of all communication with customers, including payment arrangements, promises to pay, and any disputes or issues raised. Update account information in the organization's database or collections system as needed.
Compliance with Regulations: Ensure compliance with relevant laws, regulations, and industry standards governing collections and debt recovery practices. Adhere to ethical standards and follow established procedures to protect customers' rights and privacy.
Reporting and Analysis: Prepare reports on collections activities, including delinquency rates, recovery rates, and trends in customer behavior. Analyze data to identify opportunities for improvement in collections strategies and recommend changes as necessary.
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
Education: A high school diploma or equivalent is typically required for entry-level positions as a Collections and Recoveries Officer. Some employers may prefer candidates with post-secondary education in finance, accounting, or a related field.
Experience: Previous experience in collections, debt recovery, or customer service is often preferred. Experience in a financial institution or lending environment can be especially beneficial.
Communication Skills: Strong communication skills are essential for effectively communicating with customers, negotiating payment arrangements, and resolving disputes. This includes both verbal and written communication skills.
Negotiation Skills: The ability to negotiate payment terms and settlements with customers is crucial for success in this role. Collections and Recoveries Officers should be persuasive, assertive, and able to find mutually beneficial solutions.
Empathy and Sensitivity: Dealing with customers who are experiencing financial difficulties requires empathy, patience, and sensitivity. Collections and Recoveries Officers should be able to understand customers' situations and approach interactions with compassion.
Organizational Skills: Effective organization and time management skills are important for managing a large volume of accounts and prioritizing tasks based on urgency and importance.
Knowledge of Regulations: A solid understanding of relevant laws, regulations, and industry guidelines related to collections and debt recovery is essential for ensuring compliance and protecting both the organization and the customer.
Computer Skills: Proficiency in basic computer applications and familiarity with collections software or databases is often required. Collections and Recoveries Officers should be able to navigate software systems to access account information, update records, and generate reports.
APPLICATION FOR THIS POSITION MUST BE DONE ONLINE:
Are you interested? Click the "APPLY" button below to submit your application.
