(Collection Officer) – Multiple Locations, Kenya – Tenakata Enterprises Limited

(Collection Officer) – Multiple Locations, Kenya – Tenakata Enterprises Limited

Position: Collection Officer
Company: Tenakata Enterprises Limited
Location: Eldoret, Embu, Nanyuki, Kapsabet, Kerugoya, Kakamega, Waiyaki Way, Karatina, Bungoma, Kericho, Mbale, Nakuru, Kenya
Type of Job: Full-Time
Reporting to: Branch Manager
Application Deadline: November 30, 2024

Introduction

Tenakata Enterprises Limited is a dynamic business technology platform committed to empowering MSMEs across Africa. Tenakata offers these enterprises essential support in financial literacy and business management, creating growth opportunities through partnerships with financial institutions that provide credit. The Collection Officer role at Tenakata plays a crucial part in maintaining the financial health of the company, focusing on debt recovery to minimize credit losses and ensure a solid financial position. If you thrive in financial services and are passionate about contributing to economic empowerment, this is an exciting opportunity to join a team dedicated to impacting the lives of MSME owners.

Key Responsibilities

• Meet Collection Targets: Achieve and exceed targets for minimizing credit losses and maximizing debt recoveries.
• Feedback and Reporting: Provide management with timely updates on customer payment behaviors to help shape business strategies.
• Customer Interaction: Contact defaulting customers through calls or in-person visits to negotiate debt settlements.
• Collaboration with Business Development Officers (BDOs): Work closely with BDOs on managing and improving bad debt portfolios.
• Analysis and Reporting: Prepare, analyze, and submit regular reports on overdue accounts, recovery strategies, and potential risks.
• Risk Assessment and Recommendations: Identify, evaluate, and make recommendations to manage risk in debt recovery.
• Data Management: Implement data clean-up procedures to ensure accurate and current MSME credit data.
• Loan Recovery and Legal Compliance: Oversee the procedural recovery of outstanding loan amounts, ensuring defaulting clients’ rights are respected to avoid legal risks.
• Loan Approval: Approve loans within designated limits and facilitate higher approvals with branch management.
• Team Supervision and Training: Assess capacity needs and initiate necessary training for credit department personnel.
• Additional Responsibilities: Perform any other duties as designated by the company to support operational success.

Qualifications and Skills

• Education: Diploma or degree in a relevant field, with a preference for sales or marketing background.
• Computer Literacy: Proficiency in basic computer applications.
• Experience in Financial Services: Previous work in a financial institution, ideally dealing with MSMEs or customers in similar segments.
• Debt Recovery Experience: Minimum of 1 year in debt recovery or a related field.
• Interpersonal Skills: Strong negotiation and communication skills for effective client interaction.
• Analytical Skills: Ability to analyze data and make data-driven recommendations.

Company Culture and Values

At Tenakata, we believe in empowering businesses to drive community and economic growth. Our mission is to support MSMEs, helping them build sustainable businesses through innovative technology and financial literacy. We value integrity, collaboration, and commitment to client success, aiming to create a supportive work environment that fosters growth and learning for our employees.

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Expert Tips to Be a Successful Applicant for the Collection Officer Position

1. Demonstrate Your Debt Recovery Achievements
   • Example: If you have experience managing collections, share specific achievements, such as reducing outstanding debt by a measurable percentage or successfully recovering high-risk loans. For instance, “At my previous role, I reduced the number of overdue accounts by 20% within six months by implementing structured follow-ups and personalized settlement plans with clients.” Highlighting your concrete accomplishments in similar roles gives Tenakata confidence in your ability to meet their credit recovery goals.
2. Illustrate Understanding of MSME Challenges
   • Example: Show that you understand the financial struggles small businesses face and the importance of maintaining positive relationships. Mention experiences where you’ve worked with small or medium enterprises, helping them manage finances or understand credit options. For example, “While assisting MSME clients at [Previous Company], I provided guidance on managing overdue payments, helping them see the importance of timely repayment for sustaining cash flow, ultimately reducing default rates by 15%.”
3. Optimize for ATS with Strategic Keywords
   • Tip: Use terms such as “credit recovery,” “financial services,” “debt negotiation,” and “MSME credit management” across your resume to align with what Tenakata likely prioritizes in their applicant tracking system (ATS). Example: “As a collections officer, I specialized in MSME credit recovery strategies, consistently applying data analysis and risk assessment to reduce defaults.” Including these keywords naturally in your descriptions ensures that your application is seen by hiring managers.
4. Showcase Negotiation Skills with Specific Scenarios
   • Example: When detailing negotiation skills, provide examples of how you worked with clients to settle accounts amicably, even under challenging circumstances. For instance, “I successfully negotiated a phased repayment plan with a client facing temporary business challenges, allowing them to stay current on payments while maintaining a positive relationship, which ultimately preserved our lending agreement.”
5. Align Your Application with Tenakata’s Mission to Empower MSMEs
   • Example: Reflect Tenakata’s focus on financial literacy for small businesses. Mention any work you’ve done supporting financial literacy or empowerment initiatives, like, “I assisted MSME clients by conducting workshops on basic financial management, contributing to a 25% reduction in their overdue balances by improving their budgeting skills.” This shows you are not only skilled but also share Tenakata’s values.
6. Highlight Analytical Skills with Evidence of Data-Driven Decisions
   • Example: Tenakata values data accuracy and analytics in recovery processes. Describe how you’ve used data to improve collection strategies. “In my previous role, I analyzed debt patterns to identify high-risk accounts and tailored recovery approaches accordingly, increasing our recovery rate by 30%.” Evidence of such analytical work aligns well with Tenakata’s data-driven approach.
7. Emphasize Client Relationship Management Skills
   • Example: Provide details on how you maintained client relationships, even when negotiating difficult repayment terms. “I worked with clients on tailored repayment plans, which helped maintain positive relationships and decreased our overall churn rate, as clients appreciated the flexibility and support.” Highlighting empathetic communication and problem-solving skills can set you apart as a candidate who values long-term relationships.
8. Describe Experiences Working in Cross-Functional Teams
   • Example: Since the role involves working closely with BDOs, mention examples where you collaborated effectively with other departments. “In my role as a debt recovery specialist, I regularly collaborated with business development and risk teams to prioritize high-value clients for collections. This team approach led to a streamlined recovery process and a 15% improvement in monthly recovery rates.”
9. Detail Your Data Accuracy and Management Practices
   • Example: Tenakata emphasizes up-to-date credit data, so describe your commitment to data accuracy. “I routinely conducted quarterly audits on client accounts to ensure accurate data. Implementing a data-cleaning schedule minimized processing errors and improved decision-making reliability, reducing collection inaccuracies by 10%.” Data management practices like these show Tenakata that you’re proactive and detail-oriented.
10. Show Continuous Learning and Adaptability to Industry Trends
    • Example: Mention any certifications or self-study efforts you’ve undertaken to stay current in credit management and collection techniques. For instance, “I recently completed a course on risk assessment in debt recovery, learning new strategies for identifying potential high-risk accounts early, allowing me to adjust collection priorities proactively.” Demonstrating a commitment to learning ensures Tenakata that you will bring innovative approaches to the role.

DOWNLOAD THE SAMPLE COVER LETTER FOR – Collection Officer with Proven Debt Recovery Success – Application for Tenakata Enterprises

Apply Now for the Collection Officer Role

Interested in making a difference? Apply now by visiting our careers page or submitting your application through the specified application channels. Become part of a team dedicated to driving financial empowerment across African MSMEs.