We Are Hiring A Debt Recovery Officer

Job Title: Debt Recovery Officer

Hiring Organization: Home Ventures Ltd

Location – Locality: Nairobi Location – Region: Kenya

Industry: Real Estate

Job Type: Full Time

Salary: KES 25k

Date Posted: 01/16/2024

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Overview

Home Ventures Ltd, a dynamic and target-driven organization in the Real Estate industry, is on the lookout for a diligent and results-oriented individual to join our team as a Debt Recovery Officer. This role offers an exciting opportunity to contribute to our mission while thriving in a challenging and rewarding work environment.

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Key Responsibilities

As a Debt Recovery Officer at Home Ventures Ltd, you will play a crucial role in ensuring the financial health of our organization. Your responsibilities will include:

1. Tenant Arrears Analysis:
   • Analyze a monthly list of tenants in arrears based on the number of missed rent payments.
2. Communication and Follow-Up:
   • Communicate with tenants in arrears, providing information on outstanding amounts.
   • Conduct follow-ups through phone calls and SMS to facilitate timely payments.
3. Payment Plan Management:
   • Collaborate with tenants to establish agreed-upon payment plans.
   • Send reminders before the due dates to ensure adherence to the payment plans.
4. Target Achievement:
   • Achieve a 95% target on a monthly basis for the assigned portfolio.
5. Customer Support:
   • Answer queries and provide advice to members in a professional and helpful manner.
6. Team Management:
   • Manage a dedicated team and oversee the assigned debt recovery portfolio.
7. Field Visits:
   • Attend field visits as directed to enhance recovery efforts.
8. Restructuring Cases:
   • Refer cases for restructuring to the supervisor when necessary.
9. Reporting:
   • Prepare daily and monthly reports, detailing collections received, follow-ups completed, and commitment dates agreed upon.
10. Ad Hoc Duties:
    • Undertake any other duties as assigned by the management.

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Qualifications & Experience

To excel in this role, you should possess the following qualifications and experience:

• Diploma in credit management or equivalent qualification.
• Minimum two (2) years’ experience in a similar debt recovery role.
• Proficiency in computer skills and computerized accounting systems.

Personal Attributes Required:

• Debt recovery analysis skills.
• Strong analytical skills.
• Excellent communication and negotiation skills.
• Integrity and a passion for numbers.
• Team player.

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How to Apply

If you are ready to take on this challenge and meet the qualifications and experience required, kindly submit your CV to hr@homeventures.co.ke. Please use “Debt Recovery Officer” as the email subject. Ensure your application is in English.

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Expert Tips To Be A Successful Applicant for Debt Recovery Officer

1. Tailor Your CV: Highlight relevant debt recovery experience, emphasizing achievements and skills relevant to the role.
2. Showcase Communication Skills: Provide examples of effective communication and negotiation skills in your cover letter.
3. Demonstrate Analytical Abilities: Discuss instances where you showcased strong analytical skills in debt recovery situations.
4. Highlight Team Collaboration: Illustrate your experience as a team player in achieving common goals.
5. Address Ad Hoc Responsibilities: Emphasize your ability to handle unexpected tasks efficiently and effectively.
6. Illustrate Integrity: Share instances where your integrity was paramount in dealing with financial matters.
7. Detail Target Achievement: Provide evidence of achieving targets or goals in previous roles.
8. Exhibit Adaptability: Showcase instances where you adapted to changes in the debt recovery landscape.
9. Showcase Field Experience: If applicable, discuss any experience with field visits and its positive outcomes.
10. Emphasize Tech Proficiency: Highlight your proficiency in relevant computer skills and accounting systems.

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SAMPLE COVER LETTER for a Debt Recovery Officer

Dear Hiring Manager,

I am writing to express my interest in the Debt Recovery Officer position at Home Ventures Ltd, as advertised. With a Diploma in credit management, coupled with over two years of experience in debt recovery roles, I am confident in my ability to contribute to the success of your team.

During my tenure at [Previous Company], I successfully managed a portfolio of delinquent accounts, achieving a commendable recovery rate of 98%. My excellent communication and negotiation skills enabled me to collaborate effectively with both clients and team members, fostering a positive and productive working environment.

I am excited about the opportunity to bring my analytical skills, integrity, and passion for numbers to Home Ventures Ltd. Your commitment to attracting a diverse workforce aligns with my values, and I am eager to contribute to the continued success of your organization.

Thank you for considering my application. I look forward to the possibility of discussing how my skills and experiences make me an ideal fit for the Debt Recovery Officer role at Home Ventures Ltd.

Sincerely,

[Your Full Name]

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Frequently Asked Questions (FAQs) about Debt Recovery Officer Position

1. What does a Debt Recovery Officer do on a daily basis?

A Debt Recovery Officer is responsible for analyzing tenant arrears, communicating with delinquent tenants, managing payment plans, achieving monthly recovery targets, and providing customer support.

2. What qualifications are required for the Debt Recovery Officer role?

The ideal candidate should have a Diploma in credit management or an equivalent qualification, a minimum of two years’ experience in a similar role, and proficiency in computer skills and accounting systems.

3. How does Home Ventures Ltd support employee development in this role?

Home Ventures Ltd is committed to employee development through training programs, mentorship, and opportunities for career advancement within the organization.

4. How are monthly recovery targets determined for Debt Recovery Officers?

Monthly recovery targets are based on the portfolio assigned to each Debt Recovery Officer, aiming for a 95% target achievement.

5. Are field visits a regular part of the Debt Recovery Officer role?

Yes, Debt Recovery Officers may be required to attend field visits as directed to enhance recovery efforts.

6. How can applicants showcase their debt recovery analysis skills in the application process?

Applicants can highlight specific instances in their cover letter or CV where they successfully applied debt recovery analysis skills to achieve positive outcomes.

7. What sets successful Debt Recovery Officers apart at Home Ventures Ltd?

Successful Debt Recovery Officers at Home Ventures Ltd demonstrate strong analytical skills, effective communication, integrity, and the ability to work collaboratively in a team.

8. Is proficiency in computer skills essential for this role?

Yes, proficiency in computer skills and familiarity with computerized accounting systems are essential qualifications for the Debt Recovery Officer position.

9. How does Home Ventures Ltd promote diversity and inclusion in its workforce?

Home Ventures Ltd is committed to attracting and retaining the best employees from all races and backgrounds, promoting diversity and inclusion in its workforce.

10. Is there any application or recruitment fee required to apply for the Debt Recovery Officer position?

No, Home Ventures Ltd is an equal employer and does not charge any application or recruitment fee.

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Possible Debt Recovery Officer Interview Questions With Answers

1. Q: How do you prioritize and manage a portfolio of delinquent accounts?
   • A: In my previous role at [Previous Company], I prioritized accounts based on their age and implemented a systematic approach, focusing on high-priority cases first to maximize recovery.
2. Q: Can you share an example of a challenging negotiation with a delinquent tenant and how you resolved it?
   • A: Certainly. In a situation at [Previous Company], I negotiated a revised payment plan with a tenant facing financial difficulties, ensuring a win-win solution that met both the tenant’s needs and the company’s recovery goals.
3. Q: How do you handle situations where a tenant disputes the amount owed?
   • A: Communication is key. I would carefully review the details with the tenant, providing documentation if necessary, and work collaboratively to resolve any discrepancies amicably.
4. Q: How do you ensure compliance with debt recovery regulations and ethical standards?
   • A: I stay informed about relevant regulations and consistently apply ethical practices in my debt recovery approach. Regular training and updates help me stay abreast of any changes in regulations.
5. Q: How do you motivate and lead your team to achieve monthly recovery targets?
   • A: By fostering a collaborative and positive team culture, setting clear expectations, and recognizing achievements. Team motivation is crucial, and I encourage open communication to address any challenges.
6. Q: Can you provide an example of a successful restructuring case you handled in the past?
   • A: Certainly. In a challenging case at [Previous Company], I successfully restructured a debt, resulting in consistent and timely payments from the tenant.
7. Q: How do you adapt to changes in the debt recovery landscape, such as technological advancements?
   • A: I actively seek opportunities for professional development to stay informed about industry trends and technological advancements. This ensures I can adapt quickly and efficiently to changes.
8. Q: How do you handle situations where a tenant is unable to adhere to the agreed-upon payment plan?
   • A: I approach such situations with empathy and flexibility. I would reassess the financial situation, explore alternative solutions, and work collaboratively with the tenant to find a viable resolution.
9. Q: How do you ensure accuracy in the preparation of daily and monthly reports on collections and follow-ups?
   • A: Attention to detail is paramount. I double-check all data entries, maintain a systematic record-keeping process, and reconcile information regularly to ensure the accuracy of reports.
10. Q: What attracted you to the Debt Recovery Officer position at Home Ventures Ltd?
    • A: I am impressed by Home Ventures Ltd’s commitment to excellence and the opportunity to contribute my skills to a dynamic team. The focus on diversity and inclusion aligns with my values, making it an ideal workplace for me.

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Best of luck with your application, and we look forward to welcoming the newest member to our team at Home Ventures Ltd! Our website is dedicated to attracting and retaining the best employees from all backgrounds, promoting diversity and inclusion in our continuous effort to become a better development partner. Remember, we are an equal employer and do not charge any application or recruitment fees. Wishing you the best in your career endeavors!