Recoveries Officer

Location:   Johannesburg, ZA

Date:  29 Aug 2023

Job Requisition and Talent Aquisition

Job Requisition: Recoveries Officer 

REQ: 128117

Talent Aquisition Officer: 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

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