Assistant Manager – Debt Recovery

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services, 35 branches in Kenya and international operations in 3 other countries. I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers. CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Holdings, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions - Proparco, DEG and FMO. I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY. I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited and I&M Bank Rwanda Specialties Banking Services, Commercial Banking, Asset Finance, Mobile Banking, Internet Banking, Investment Management Services, Diaspora Banking, Credit / Debit / Prepaid cards, Wealth Management

Purpose

The role holder will be responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realises the maximum return in the shortest possible time.

Primary Responsibilities

• Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding debt settlement and implementation of debt settlement proposals.
• Lead proactive formulation and implementation of strategies on managed exits/recoveries.
• Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the I&M brand.
• Prepare and submit necessary returns to the local regulatory authorities and Head Office on impaired debts.
• Ensure that the necessary approvals are obtained as per the delegated approval matrix for strategies and expenditure whenever necessary.
• Prepare and submit required reports to the BCC, NPA & CRMC Committees in a timely manner and working on provisions.
• Ensure data integrity & quality control of facilities is maintained.
• Prepare summons instructions to external lawyers, valuers, auctioneers and other professionals to manage recovery of debts through the courts & professionals, including disposals of debtors’ assets.
• Manage relationships with external service providers such as receivers, liquidators, repossesors, valuers, auctioneers, lawyers, debt collectors, etc who provide services in relation to Debt Recovery.
• Process the recovery of debts whilst ensuring compliance with local legal, regulatory requirements and the bank’s internal procedures.
• Ensure satisfactory Internal or External Audit Reports.
• Ensure satisfactory Conformance assessments.
• Ensure Impairment Management and MI Reporting is produced accurately and on time.

Person Specifications

• Bachelor of Commerce, Specialization in Accounting.
• At least 5 years' relevant experience.
• Diploma in Credit Management.
• CPA (preferred)
• Professional Banking qualifications (e.g. ACIB).
• Experience in both corporate relationship management and credit risk analysis
• Experience in dealing with senior management of corporate entities
• Good knowledge of the local legal system, insolvency law and security issues, and the options available to the Bank.

If you believe you meet the above requirements log onto our www.imbankgroup.com/ke and click on careers and apply for the position. Your application should reach us as soon as possible but not later than 22 January 2024.