Credit Officers Micro Finance Zambia Limited

Designation : Credit Officers-3 (Lusaka)
Reporting Line: Assistant Manager – Credit
Business Unit: Credit Department
Location: Lusaka

Job Purpose

To ensure all arrears arising as a result of non-deduction by employers are collected through the alternative collection methods. Maintain a high quality performing loan book through effective off-payroll recoveries.

Key Outputs & Responsibilities:-

• Follow up with clients with overdue balances.
• Maintain up to date customer list in default with the current information and customer’s contact details including next of kin details;
• Write demand letters to inform customers of their overdue loan balances and follow up on repayments as agreed with the customers;
• Ensure that all defaulting customers receive signed demand notices and acknowledge receipt;
• Identify root causes of defaults through communication with the customer and employer and establish the right strategy to recover the overdue amounts.
• Achieve allocated monthly collection targets as provided month on month.
• Profiling of all non-performing loans and establish the correct strategy to recover e.g. external debt collectors, insurance claims, DDAC mandates etc
• Constant monitoring of the loan portfolia for timely identification of loans in arrears
• Provide weekly consolidated reports on the recoveries to the Supervisor.
• Negotiate payment plans/schedules with customers in line with their financial situation or capability.
• Ensure compliance with all credit approval processes and procedures

Qualifications & Experience

• Grade 12 School Certificate with 5 credits including English and Mathematics.
• Degree in Banking and Finance/Accounting from a reputable recognized institution,
• Minimum of 2-3 years of banking experience in a credit-related role is a must-have.
• Sound knowledge of industry best practices in debt recovery.