Recoveries Officer at Standard Chartered Bank

About Standard Chartered

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. If you’re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can’t wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you’ll see how we value difference and advocate inclusion. Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with with minimum global standards for annual and public holiday, which is combined to 30 days minimum
Flexible working options based around home and office locations, with flexible working patterns
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.
Recruitment assessments – some of our roles use assessments to help us understand how suitable you are for the role you’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Role Responsibilities

Budget

As per LI Budget and Score cards
Staff – NA
Authority Level -NA
Individual have implied authority to do what is necessary in carrying out their Responsibilities below, subject to the requirements of the sources of Authority Framework including compliance with the Group Delegated Authorities Manual (Including Financial authorities). Power of Attorney Policy and Group Authorised Signatures Book.
Including individuals’ authorities delivered from Committees-NA
Number of branches -NA
Number of entities/ business unit-NA
Board appointments-NA
Committee appointments- NA
Regulated Role-NA

PURPOSE :

The Tele Recoveries Officer position is accountable for Recovery the maximum amount of overdue funds from customers, which may include a variety of customer location techniques, Recoveries methods, legal claims, and the selective use of outside Recoveries services.

RESPONSIBILITIES:

Strategy:

To manage and control the Recovery of monies on charged -off accounts
Highlights and analyse repayments to identify ways of improving the Recovery process.
Daily calling of customers whose accounts have been charged -off.
Manage charge off accounts portfolio through installed robust CACS (Computer Aided Collections Systems)

Business.

Manage all accounts in your queue/allocated to ensure that losses are minimised, and Recoveries maximised by the effective implementation of Recoveries activities.
Ensuring effective performance of Recoveries against and matching activities to daily action reports.
Ensure remedial action when required to keep performance in line with business objectives.

Processes:

Highlight and analyse credit failures to identify ways of improving the credit approvals process.
Interpret MIS statistical information relating to performance of Recoveries e.g Amount Recovered, volume of recoveries made.
Contact charged off customers to negotiate payments
Advise corporate under the Scheme Administrators for Charged off customers where deductions have not started

Risk Management

Ensure all collections policies and procedures comply with Group Standards.
Accountable for satisfactory closure of issues gaps arising from internal audits, business risk reviews, Peer Reviews and regulatory reviews-Ensure timely closure of control issues raised by OR team as well as ensuring CST closures with no repeats in the collections area.
Account for compliance with Operation Risk, against money laundering guidelines, reputation risk, treating customers fairly ( TCF) policy and local regulations on collection activities, and data confidentiality policies.
Ensure adherence to the process in the identification, assessment, mitigation and control and monitoring of risk.

Governance

Adhere to country collection processes, procedures and ensure activities are aligned to Group Collection policy and process standards and global regulations.

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct.
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.
Lead the Tanzania Retail Banking Collections & Recoveries team to achieve the outcomes set in the Bank’s Conduct Principles.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

Branch Managers
Employee banking Staff
Lending Operations
Credit Risk Team
Legal and Compliance

External.

External Legal Counsel
Insurance Service Provider (ISP)
Clients
Corporate signed on the Employee Privileges Programme- for monthly loan repayments/deductions at source.

Our Ideal Candidate