Lead Collections Officer - North West Premium Finance Limited

The incumbent is responsible for management of the debt lifecycle and performing loss mitigation and recovery activities regarding delinquent or charged-off accounts in accordance with Company and legal guidelines.

KEY POSITION RESPONSIBILTIES: 

• To oversee all collections activities on the North West loans portfolio in adherence to company policy and legal framework.
• Management of all delinquent accounts as per the debt lifecycle outlined in the company’s credit policy to mitigate loan losses.
• Daily preparation of the delinquency call listing. Assignment and dissemination of same to call staff to ensure daily collections call quotas are made.
• Oversight of arrears letters and final settlement letters.e.Oversight of the SMS/WhatsApp notification for delinquent cardholders.
• Negotiation of payment terms with delinquent clients.
• Takes action to repossess and foreclose on collateral security involved in delinquent loans. 
• Work closely with Beacon underwriting support, claims and other departments/stakeholders to ensure timely receipt and application of credit refunds and/or receivables to relevant accounts.
• Action policy cancellation processes for premium financing, including but not limited to notice of cancellation requests, revocation instructions and instructions to proceed.
• Oversee maintenance of files, records, and journals to provide a chronology of collection activity for every delinquent account.
• Management of the third-party collector relationship and assignment of bad debt account to third party collector.
• Training of staff in collections activities and processes including use of the delinquency management software.
• Preparation of monthly reports on portfolio status and collections activities.
• Supervise preparation and dissemination of Notices of Cancellation (NOC) and revocation letters inclusive of relevant updates to LANSA platform and other records in adherence to Beacon policy and all legislative guidelines.
• Responsible for the summons process and advice of same to the Licensing Division.
• Supervise all third-party service providers including vendor for filing of summons, the Courts and Ministry of Transport, Licensing division in adherence to Beacon policy and all legislative guidelines. 
• Respond to sales personnel and brokers and queries on client history, account status, payment arrangements and other customer service issues.
• Preparation of non-indebtedness/settlement letters for clients.
• Supervise the time and attendance of staff members
• Conduct Performance evaluations
• Set and monitor the achievement of SMART goals and initiatives within the Division
• Conduct coaching and mentoring for team members
• Provide back up support for opening and closing of cash and balancing of the cashiers’ teller pan.
• Act as a subject matter expert when required for relevant learning and development programs.
• Complete any job related function relevant to North West Premium Finance that may be required.

KEY BEHAVIORAL COMPETENCIES:

• Effectiveness in transmitting information, including confidentiality, facilitation/participation in sharing information, and oral and written expression.
  
• Ability to provide quality service to internal and external clients, including demonstrated commitment to improvement of service.
• Ability to complete job assignments, including judgement, problem solving, and use of appropriate resources in decision making.  
  
• The effectiveness with which the employees’ performance is managed and holds them accountable for meeting performance and conduct expectations. 

KEY TECHNICAL COMPETENCIES: 

• Knowledge and understanding of the core principles of insurance and how this is applied on a day-to-day basis.
• Knowledge and understanding of regulatory requirements and how to meet these on a day-to-day basis. 
• Knowledge of Beacon/North West and the wider financial services market place and how this is applied on day-to-day basis.
• Knowledge of how claims should be handled and managed.
• Kowledge of the underwriting process.
  
• Knowledge of the basic principles of credit (3 C’s) and company’s origination processes and procedures.
• Knowledge and understanding of the range of financial products and basic insurance products and services available in the market.