Debt Recovery Officer

Full-time
UGAFODE Microfinance Limited (MDI)
Description

Employer: UGAFODE Microfinance Limited (MDI)
Role: Debt Recovery Officer
Duty Station: Kampala, Uganda
Deadline: September 5, 2024
Reference: HR/STAFF/VAC – 30/08/2024/2

About the Organization:
UGAFODE Microfinance Limited (MDI) is a financial institution in Uganda, regulated by the Central Bank. Founded in 1994, UGAFODE provides quality microfinance services across the country.

Job Summary:
The Debt Recovery Officer will be responsible for managing borrowing accounts that show early signs of deterioration and non-performing accounts to turn them around, optimize performance, and minimize financial loss to the institution.

Key Duties and Responsibilities:

  • Issue daily arrears notices and follow up with clients who have not settled their monthly obligations.
  • Discuss debt repayment plans with defaulting clients and recommend accounts for restructuring to management.
  • Support branches by addressing customer queries regarding loan account balances and ensuring all client files are up-to-date.
  • Respond to customer inquiries about loan account status and perform reconciliations for accounts with irregularities.
  • Check for security perfection on non-performing accounts and coordinate with the legal department for foreclosure processes.
  • Ensure timely capturing of cash flows for proper IFRS reporting and compliance.
  • Process the release of securities for paid-off loans and forward them to the Head of Credit for recommendations.
  • Monitor and review delinquent account records to identify customers needing contact for overdue payments and provide regular support.

Qualifications, Skills, and Experience:

  • Minimum of a Bachelor’s degree in Economics, Statistics, Commerce, Business Administration, or an equivalent field.
  • At least 2 years of experience in debt recovery, credit officer, or credit administration roles.
  • Experience working in a call center for a financial institution is an added advantage.
  • Basic understanding of the legal framework related to credit and debt recovery.
  • Thorough knowledge of UGAFODE (MDI) credit policies and procedures.
  • Strong knowledge of relevant banking regulations, including the MDI Act and IFRS guidelines.
  • Excellent decision-making skills and results-oriented personality.
  • High integrity, responsibility, and confidentiality.
  • Proficient in credit and financial analysis, negotiation, and maintaining high standards of performance.
  • Strong team-building skills, including initiative, decision-making, dispute resolution, customer service, and negotiation.

How to Apply:
If you meet the qualifications, please submit an application letter along with an up-to-date CV to recruitment@ugafode.co.ug. Save your documents as your full name and include the job title in the email subject line. Address your application to the Head of Human Resources.

Application Deadline: September 5, 2024.

Note: Ladies are encouraged to apply.

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