Recoveries Officer

Job Requisition and Talent Aquisition Contact

REQ: 130423

Location: Sandton, Johannesburg

Closing Date: 05 December 2023

Talent Acquisition: Saranya Govender 

Job Family

Credit

Career Stream

Credit Recoveries

Leadership Pipeline

Manage Self: Technical

Job Purpose

Support external vendors to recover outstanding monies both on and off balance sheet on current and savings accounts by following internal and legal processes and procedures; which results in reduced costs and losses for the bank.

Job Responsibilities

  • Maintanance of Default and Recoveries system/ SAP by daily capturing of cashflows and maintaining of impairments.
  • Allocation of funds in the department’s suspense account.
  • Arrange settlements with clients
  • Monitoring of costs versus recoveries for on and off balance sheet matters.
  • Monitoring of portfolio in terms of age in line with targets set as per legislation guidelines
  • Validating of payments into clients accounts daily, General Ledger.
  • Returns daily (pay no pay)
  • Rehabilitation of client accounts within a set payment criteria (6 consecutive payments).
  • Validation and payment of invoices received from vendors by consolidating the payment file
  • New handovers from regional risk to legal recoveries.
  • Request original security documents from Securities department.
  • Request evaluations on all assets from Evaluations department.
  • Liasing with the Insurance division to check whether the fixed properties are insured or not.
  • Allocation of work to external stakeholders (vendors)
  • Ensuring that Litigation Guidelines are adhered to while maintaining good relationship with vendors.
  • Performance management of vendors as per the SLA.
  • Assist clients with payment arrangements and respond to all client requests or queries within specified turn around time.
  • Engage with various departments for various processes (student loan, debt review, admin support etc)  
  • Processing of DI (Department Industry) entries on SAP (raising of fees and service provider fees, write offs)
  • Maintaining evaluations register by capturing on a diary system.
  • Processing monthly work in progress sheet
  • Requesting cheques by completing a cheque requesition.
  • Completing a Debit Credit Waste Capturing.
  • Completing monthly Operations Committee Meeting reports.
  • Maintaining D and R which includes capturing of recovery forecasts, actual recoveries and impairments.
  • Pre-checks on new handovers from the region.
  • Requesting securities from Security department.
  • Daily reconciliation by validating payments received from clients directly into their accounts as well as the suspense GL accounts.
  • Debt management.
  • Reinstatement of legal accounts by uplifting of blocks and holds and requesting approval from stakeholders.
  • Issuing settlement letters to clients.
  • Conducting monthly operational meetings with vendors.
  • Preparing loss reports (written off accounts)
  • Requesting documentation from external vendors (legal documents, death certificates etc)
  • Processing refunds by requesting documentation from external clients and seeking approval from management.
  • Completing monthly vendor trackers.
  • Judgement clearance certificates by providing the required information within 7 days to the relevant Credit Bureaux.  
  • Keep abreast of legislation and other industry changes that impacts on role by reading the relevant newsletters, websites and attending sessions.
  • Ensure information is provided correctly to stakeholders by maintaining knowledge  sharing knowledge with team.
  • Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g. staff surveys etc).
  • Participate and support corporate social responsibility initiatives for the achievement of key business strategies.
  • Identify and recommend opportunities to enhance processes, systems and policies and support implementation of new processes, policies and systems. 

Essential Qualifications – NQF Level

  • Matric / Grade 12 / National Senior Certificate

Preferred Qualification

Diploma: Paralegal Studies , AIPSA

Minimum Experience Level

2 – 5 years banking/collections

Technical / Professional Knowledge

  • Administrative procedures and systems
  • Banking procedures
  • Data analysis
  • Governance, Risk and Controls
  • Microsoft Office
  • Relevant regulatory knowledge
  • Relevant software and systems knowledge
  • Business writing skills
  • Cluster Specific Operational Knowledge

Behavioural Competencies

  • Communication
  • Continuous Learning
  • Collaborating
  • Stress Tolerance
  • Work Standards
  • Managing Work

Click here to apply

All the best with your applications

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