Finance job vacancies. About the Company
Inkomoko supports entrepreneurs to grow their businesses in order 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 400+ 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, produce high-quality work, be a global leader.
- Achievement: push yourself to reach beyond what you previously thought possible.
- Improvement: be humble, engage in continuous growth through open & accurate feedback.
- Bravery: willing to take risks, create a safe space for others, be compassionate, inclusive.
- We Eat Goat: we celebrate success and support each other in hard times. We do this work together in the spirit of turikumwe, tuko pamoja, abren nen, urang babarengan.
- Inkomoko reflects the communities we serve. Displaced persons and women are strongly encouraged to apply.
About the Opportunity
The Loan Recovery Officer Key responsibility will be to alert, follow up, recover defaulted loans by conducting site visits, coordinating with local authority, 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 report 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 Finance department to reconcile payments received and real time transaction postings
- Responsible for achieving monthly PAR target
- Negotiate payment plans with defaulters
- Initiate receivership process with the lawyer
Debt recovery (60%)
- Monitor allocated portfolio of delinquent loans 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 to Inkomoko’s Credit Policy and Procedures regarding management of 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 Recovery officer will be a trusted partner of Inkomoko Trustee clients, and basic qualifications Include:
- A university degree in Finance, Business Administration or other related field.
- Must speak fluent English, and Swahili. Knowledge of other local languages is a plus.
- Knowledge and familiarity of Kakuma and Kalobeyei is a plus.
- Minimum of 2 years banking of MFIs 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 ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors 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 Kenya
What You’ll Get
This role is inside a high-growth, mission-driven social enterprise. By joining, you’ll access:
- Competitive salary, and potential Goal-based bonus
- Incredible company culture, including deep investment in your learning and growth
- Diverse colleagues and policies that show our commitment to equity and inclusion
- Talented, passionate, and committed team colleagues across the region
- Ability to make a significant social impact to your community
- Generous health insurance, staff savings, parental leave, sabbatical, and more benefits.