Assistant Credit Manager

Designation: Assistant Credit Manager – 1 (Lusaka)
Reporting Line: Assistant Credit Manager
Business Unit: Credit Department
Location: Lusaka

Job Purpose: To assist with managing the organization’s arrears book including recoveries and be responsible for coordinating activities by the staff in the arrears unit; reporting timeously to senior management on the performance of the unit; to set and track arrears management goals, objectives, and performance targets.

Key Outputs & Responsibilities:

Maintain up-to-date customer list in default with the current information and customer’s situation, including contact numbers and next of kin details through reports from Credit Officers.
Write demand letters to inform customers of their overdue loan repayments and follow up on payments as agreed with customers.
Identify root causes of defaults through communication with the customer and employer, and establish the right strategy to recover the overdue amounts.
Ensure that all loans issued are monitored and detected early for non-performance or recovery by the employer.
Achieve allocated monthly collection targets as provided month on month.
Profiling of all non-performing loans and establish the correct strategy to recover, e.g., external debt collectors, insurance claims, DDAC mandates, etc.
Identify skills gaps for subordinates and suggest the correct training to improve efficiency.
Institute appropriate legal action for customers consistently in default.
Negotiate reasonable settlement plans with customers in arrears and collaborate with department head/external counsel in executing legal strategy of asserting and enforcing legal claims.
Execute on all asset recovery logistics with applicable external service providers (e.g., repossession companies, bailiffs, external legal counsel, auctioneers).
Facilitate the discharge and removal of repossessed collateral after disposal to third parties.
Ensure that loans with collateral have the security perfected with the necessary institution (Lands, PACRA for moving assets, etc.).
Be able to identify process inefficiencies and come up with ideas to simplify processes and controls for enhanced data analysis/reporting.
Develop debt recovery policies and procedures for use in the department.
Coordinate/compile & report on all data, metrics, and outcomes relevant to the role, as routinely required and otherwise mandated by the department head.

Qualifications & Experience:

Grade 12 School Certificate with 5 credits including English and Mathematics
Bachelor’s Degree in Accountancy/Finance or equivalent (Certified by ZAQA)
Credit qualification will be an added advantage
A minimum of 5 years’ working experience in credit arrears/recoveries management, with at least 2 years in a Supervisory position

Interested Applicants who meet the job requirements should e-mail their CV’s to recruitment@mfz.co.zm. Only shortlisted candidates will be contacted. Be sure to include the job applied for in the subject field.
Closing date: Tuesday, 11th February, 2025