Loan Delinquency Management Officer - Credit Risk Management

Summary

The incumbent will be responsible for the management and control of a portfolio of accounts consisting of delinquent Consumer and Corporate loans. The individual will be required to take the necessary steps to ensure that clients liquidate arrears, and where necessary, review the accounts and recommend appropriate actions. The incumbent will establish work-out arrangements and or realization of the security held, and negotiate terms with the clients for the restructuring and/or management of delinquent accounts.

Responsibilities

• • Manage and control a portfolio of delinquent accounts comprising personal and business loans in the past due categories with the primary objective of maximizing recoveries and minimizing losses to the Bank.
• • Effectively pursue the collection of delinquent accounts in the Bank’s loan portfolio in line with policy through the use of acceptable methods and strategies including calls, interviews, negotiation and engagement of third party professional services, such as, bailiffs and collecting agencies and the monitoring of their progress.
• • Establish contact with delinquent clients, personal and corporate and establish reasons for delinquency and design and implement collection strategies to achieve the reinstatement and restoration of accounts to current status or implement exit strategy on accounts identified as beyond rehabilitation.
• • Convene meetings with delinquent clients in order to arrive at a mutual agreement regarding the resolution of the reason for the delinquency.
• • Follow agreed Collections Guidelines to achieve the Bank’s objectives of reducing delinquency while ensuring that a high quality of customer service is maintained.
• • Maintain responsibility for the assigned delinquent portfolio and the management of same for full duration until accounts are fully rehabilitated within agreed collections guidelines.
• • Identify accounts where the possibility of rehabilitation exists and refer them to the relevant Branch Officers for consideration.
• • Investigate credit records and related data to conduct research, analyze results to determine actions to be taken in the Debt Recovery process to collect on delinquent loans.
• • Identify and resolve contentious situations or immediately refer matters to Supervisor.
• • Assist in the evaluation of the Bank’s position to decide on the viability of litigation.
• • Update the portfolio with all pertinent information on all relevant systems and to maintain the integrity of records.
• • Document in Follow-up Sheets all call activities and strategies employed in the collection process.
• • Identify and recommend solutions to recurring errors, process gaps, revenue leakage and service efficiency.
• • Functions as part of the risk team in continuously monitoring the external environment and recommend adjustments to internal programmes and strategies in a prompt and timely manner where there are factors likely to impact the company’s performance.
• • Monitoring monthly performance results, reacting as necessary to ensure control over routine expenditures within your control, and the collection of appropriate revenues.
• • Assist in the creation of an amicable working environment conducive to individual development, productivity and achievement by exercising good interpersonal skills, cooperation and sound work ethics.
• • Prepare quarterly reports to Bank of Jamaica on Transferred Loans.
• • Prepare Marginal report on a monthly basis.
• • Promote teamwork by committing to deliver a continuous high level of service to all team members.
• • Performing other related duties that may be assigned from time to time.

• Authority:

  • • Recommend Debt Recovery/Risk management policy changes where appropriate to the Manager, Credit Risk Department.
  • • Identify and inform the Credit Risk Manager (where relevant) of all risk transactions which contravene agreed policy or which by best practice, regulatory or internal prudential risk management are deemed to have implications to profitability and credibility of the bank or any of its related companies.

• Performance Criteria:

  • • Delinquency is brought under control in line with policy/targets.
  • • Recommendations are consistently sound and reliable.
  • • Department objectives are consistently met.
  • • Major financial and associated risks are identified and appropriate strategies developed and implemented to manage such risks.
  • • Excellent work relations are maintained among the Team members within the Bank and related companies.

Required Skills

• • Strong analytical and financial analysis skills.
• • Communication and Coaching - Good oral and written communication skills. Willingness to listen, understand and Respond.
• • Excellent Time Management Skills.
• • Computer literate with knowledge of the relevant computer applications.

Qualifications

• • First Degree in Banking, Finance or Management Studies or equivalent qualifications.
• • Five (5) years experience in a financial institution preferrably in the areas of Delinquency Management, Credit Risk Management, Retail and/or Corporate Credit, Operations or Internal Audit.
• • Knowledge of collateral assessment and Loan Delinquency Management.
• • Sound knowledge of Retail and Corporate products and services and credit/collection policies and procedures.
• • Sound Knowledge of the Bank’s Lending and Credit Administration policies and operating procedures.
• • Sound Knowledge of the regulations governing financial institutions eg. Banking Services Act, Money Laundering Act, Financial Institutions Act, BOJ Guidelines on Credit Risk Management and Standard of Sound Practice on Problem Asset Management.
• • Sound working knowledge of T24 and SharePoint applications.

Additional Information and Instructions

• Working Conditions:

  • • Normal office environment.
  • • May be required to work beyond normal working hours to ensure that daily transactions are complete

Submit applications to flgc@jmmb.com by February 5, 2025

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