Collections Officer at Standard Chartered Bank

Standard Chartered Bank – We’re an international bank, nimble enough to act, big enough for impact. For more than 160 years, we’ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. As a leading international bank, we strive to help people and businesses prosper across Asia, Africa and the Middle East.

Job Position: Officer, Collections

Job Location: Victoria Island, Lagos

Job Description

1. Call and cover all assigned accounts as per the Collection strategy
2. Ensure effective tele-calling to maximize $ Collected and minimize losses by collecting the Total Amount Due
3. Controls and Governance – Comply fully with Calling scripts, Call pitch and Strategy and abide to the Do’s and Don’ts of Collections
4. Maintain a clean work area
5. Minimize risk by escalating/recommending issues to People Leader timely
6. Strong negotiation qualities whilst treating the customers fairly

Job Responsibilities 

1. Call and cover all assigned accounts as per collection strategy
2. Ensure effective tele-calling to maximize Recoveries ($ Collected) and minimize losses by collecting the Total due amount
3. Comply fully with Calling scripts, Call pitch and Strategy
4. Abide to the Do’s and Don’ts of collection
5. Maintain a clean work area
6. Escalate/recommend issues to minimise risk
7. Timely escalation of high-risk accounts to People Leader
8. Adherence to the minimum number of calls required for all Collectors to make
9. Meet the monthly Collections target as advised
10. Remain alert to the risk of money laundering and assist in the Bank efforts in combating it by adhering to the key principles in relation to: Identifying your client, knowing your client, reporting suspicions, safeguarding records and not disclosing suspicions to clients.  Ensure your staff are trained in combating money laundering
11. Raise repayment recovery and MARCIS schedules and upload on E-OPS
12. Ensure delinquent accounts are blocked for loan repayment
13. Follow-up with Employee Banking where necessary e.g. on salary domiciliation issues
14. Ensure data confidentiality and appropriate handling of customer documents
15. Ensuring proper management of post-charge off accounts for Secured and Unsecured lending products
16. Contribution to the Collections Team’s overall and overarching collective objectives
17. Ensure complete Collections follow-up trails on CACS
18. Ensure update of database for cardholders change of addresses, telephone nos. and other appropriate information relevant to collection follow-up
19. Escalate any system irregularities that may have been noted while using CACS
20. Be an excellent team player
21. Any other duty as may be assigned

Strategy:

1. To manage and control all matters relating to CPBB Clients Charge off Accounts (Loans) by constantly reviewing Collections procedures and ensuring early recovery actions are taken to maximize prospects of full recovery
2. Highlights and analyses credit failures to identify ways of improving the credit approval process
3. To maximize collections/recoveries of charged-off debt
4. Contacts delinquent loan customers to negotiate payment schedules that are acceptable to the Bank and customers
5. Identify control weaknesses and recommend remedial action and best practice as appropriate
6. Reduction of net provision through effective collections and thus impact positively on profitability.

Business:

1. Contribute to the Business’s growth by cooperating reasonably within acceptable Control and Governance realms
2. Effective management of collections operation to meet the net credit loss as well as net credit cost goals of the business
3. Ensures remedial action is taken when required to keep performance in line with business objectives
4. Reduction of net provision through effective collections and thus impact positively on profitability

Processes:

1. Manages the day -to-day operations of collections to ensure losses are minimized and recoveries maximized by the effective implementation of collections activities
2. Review and assess all newly identified delinquent loan accounts and introduce recovery action aimed at minimizing losses by error reduction
3. Contacts delinquent loan customers to negotiate payment schedules that are acceptable to the Bank and customers
4. Highlights and analyses credit failures to identify ways of improving the credit approval process
5. Contact through telephone, letters
6. Perform administrative work related to Collections
7. Recommend accounts for legal action
8. Maintain departmental databases, charge off, deceased etc.
9. Assisting the CCH to identify control weaknesses and recommend remedial action and best practice as appropriate
10. Assisting CCH to implement changes to systems, procedures and structures to maximize quality of portfolio and minimize risk

Risk Management:

1. Maintain an eagle-eyed approach to the identification of risks
2. Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
3. The ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures
4. Remain alert to the risk of money laundering and assist in the Bank efforts in combating it by adhering to the key principles in relation to: Identifying your client, knowing your client, reporting suspicions, safeguarding records and not disclosing suspicions to clients.  Ensure your staff are trained in combating money laundering
5. Minimization of credit losses
6. Ensure confidentiality and appropriate handling of client documents.

Governance

1. Follow the guidelines around how we do our business e.g. around approving authorities
2. Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight, and controls in the business and, if necessary, oversee changes in these areas
3. Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role
4. Responsible for delivering ‘effective governance’; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner

Regulatory & Business Conduct:

1. Display exemplary conduct and live by the Group’s Values and Code of Conduct.
2. Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
3. Lead to achieve the outcomes set out in the Bank’s Conduct Principles
4. Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

1. Country Head, Collections & Recoveries Nigeria
2. Country Credit Head (CCH)
3. CPBB Products
4. Client Experience, Nigeria
5. Lending Operations
6. Employee Banking

Our Ideal Candidate

• Bachelors Degree

Role-Specific Technical Competencies:

1. Negotiation Skills
2. Probing Skills
3. Organizational Abilities
4. Good sense of Risk

Application Deadline
13th December, 2023

How to Apply
Interested and qualified candidates should:
Click here to apply online