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Collections Manager job at Equity Bank | Apply Now

Are you looking for Administrative jobs in Uganda 2024? If yes, then you might be interested in Collections Manager job at Equity Bank

Kampala, Uganda

Full-time

Deadline: 

April 12, 2024 at 2:00:00 PM

Apply Now

About the Organisation

Equity Bank Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.

Equity Bank is one of the fastest growing banks in Uganda, with a large network of 50 branches, 7,000+ EquiDuukas, 1,279 POS Terminal and 50+ ATMs spread across the country. 25 of these branches are located in Central and greater Kampala, serving over 1,800,000 customers. The Bank has deployed a number of Alternate Business Channels to enhance its product and service delivery. These include: Internet Banking, Eazzy 247- a mobile banking service, Point of Sales (POS) machines as well as partnerships with major telecom companies.

The Bank has adopted the Group approach of financial inclusion by opening its doors to customers across the financial pyramid. On the back of the Group technological advances, Equity Uganda is now recognized as a key enabler to driving inclusion and innovation through strategic partnerships with telecoms, utility companies, local government, religious bodies, and third- tier financial institutions.

The partnership with the entities above has enabled Equity Bank Uganda to grow through technology adoption, faster access to finance and improved play in the growing cross-border opportunities following the recent revitalization of the East Africa Community (EAC). The Bank plays a pivotal role in facilitating trade by providing a gateway from Kenya to the quickly growing economies of Rwanda, Burundi, Democratic Republic of Congo and South Sudan. Improved performance and growth has resulted in improved customer relationships and better regulatory ratings.

Equity Bank Uganda Limited is a major contributor to Uganda’s job market as it currently employs over 2,000 members of staff. It won the Uganda Investment Authority “Employer of the Year Award" in 2010 and is among the top Ten Banks in Uganda in terms of profitability and customer deposits as at 2015.

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Job Title

Collections Manager job at Equity Bank

Job Description

To proactively manage collections on the Pre-Non-Performing Loans and Non-Performing Loans exposures of Equity Bank Uganda Limited in order to maximize collections, Portfolio at Risk and provisions within set parameters, and ensure full compliance with statutory regulations and guidelines as well as internal policies and procedures.

Duties and Responsibilities

  • Team Management: Supervise and lead a team of collection agents or representatives. Provide guidance, support, and training to ensure team members meet performance targets and adhere to company policies and procedures.

  • Strategy Development: Develop and implement effective strategies and tactics for debt collection. This includes establishing goals, timelines, and performance metrics, as well as identifying areas for improvement and implementing solutions.

  • Portfolio Management: Manage a portfolio of delinquent accounts or outstanding debts. Monitor account statuses, prioritize collection efforts, and determine appropriate actions based on the age, amount, and risk associated with each account.

  • Communication with Debtors: Oversee communication with debtors regarding their outstanding debts. This may involve making phone calls, sending letters or emails, and negotiating payment arrangements or settlement agreements.

  • Compliance and Legal Requirements: Ensure compliance with all relevant laws, regulations, and industry standards governing debt collection practices. Stay informed about changes in legislation and ensure that collection activities are conducted ethically and legally.

  • Performance Monitoring: Monitor and evaluate the performance of the collections team. Track key performance indicators (KPIs) such as collection rates, call volume, and recovery rates, and take corrective actions as needed to improve performance.

  • Reporting and Analysis: Prepare regular reports and analyses on collection activities, trends, and outcomes. Provide insights and recommendations to senior management based on data analysis to optimize collection strategies and improve results.

  • Customer Service: Handle escalated customer inquiries and complaints related to debt collection. Address concerns in a timely and professional manner, and work to resolve issues to the satisfaction of both the debtor and the organization.

  • Relationship Management: Maintain positive relationships with external partners, such as collection agencies or legal counsel, as well as internal stakeholders, such as finance, legal, and customer service departments. Collaborate with these stakeholders to streamline processes and improve collection outcomes.

  • Continuous Improvement: Identify opportunities for process improvement and efficiency gains in the collections process. Implement best practices, technologies, and training programs to enhance the effectiveness and efficiency of debt collection efforts.

  • Risk Management: Assess and manage risks associated with debt collection activities. Develop strategies to mitigate risks such as fraud, bankruptcy, and non-payment, and ensure that appropriate measures are in place to protect the organization's interests.

  • Training and Development: Provide ongoing training and development opportunities for collections staff. Keep team members informed about changes in policies, procedures, and regulations, and provide coaching and feedback to support their professional growth and performance improvement.

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Qualifications and Competencies

  • Bachelor's degree in economics, Statistics, Commerce, Business Administration or equivalent.

  • 5 years' experience in a Financial Institution with at least 1-2 years' experience in credit approval & structuring, credit administration and debt recovery.

  • Leadership skills and proven experience in people management.

  • Financial analysis skills.

  • Awareness of current economic events and commercial banking best practices. Thorough understanding of internal Credit policies.

  • Thorough knowledge of FIA/IFRS guidelines & regulations on asset quality. Good knowledge of the national legal system/framework with emphasis on the Mortgage Act.

  • Awareness of the Consumer Protection guidelines.

  • High degree of attention to details.

  • Demonstrated knowledge of banking regulations, policies and procedures relating to Loan Workout processes.

  • Knowledge and understanding of the laws, processes, and documentation about foreclosures, legal action, and solvency/bankruptcies, and recovery of delinquent commercial loans.

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How to Apply

APPLICATION FOR THIS POSITION MUST BE DONE ONLINE:
If you believe you can clearly demonstrate your abilities to meet the criteria given above, please submit your job application cover letter along with a detailed resume, copies of the relevant certificates and testimonials in a single PDF file format, quoting the respective Job title or Ref no. in the subject field to recruitment@equitybank.co.ug

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