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Collections and Recoveries Officer job at Absa Bank


Absa Bank

About the Organization:

Absa Bank Uganda Limited is part of Absa Group Limited, an African financial services group that aims to be the pride of the continent. Absa Group Limited is listed on the JSE in South Africa and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42, 000 employees.
We’re committed to finding local solutions to uniquely local challenges and everything we do is focused on adding value. To this end, we offer our clients a range of retail, business, corporate and investment, and wealth management solutions. We also ensure a positive impact in all the countries where we operate.

We’re a truly African brand, inspired by the people we serve and determined to always be brave, passionate and ready so that we can make our continent proud.

Job Description

To provide advice and support in operational management and to develop, maintain and enhance operational business relationships, through the execution of predefined objectives as per agreed SOPs.

CPA Uganda April Intake

Duties and Responsibilities

  • Contacting Customers: Reach out to customers via phone, email, or mail to remind them of overdue payments and negotiate repayment terms. Maintain professionalism and empathy while communicating with customers to encourage payment without causing undue stress.

  • Developing Payment Plans: Work with customers to establish manageable repayment plans based on their financial situation and ability to pay. Customize repayment schedules and terms to ensure that customers can meet their obligations while also satisfying the organization's requirements.

  • Investigating Delinquent Accounts: Investigate delinquent accounts to understand the reasons for non-payment and assess the likelihood of recovery. This may involve analyzing financial records, reviewing payment histories, and contacting third parties for additional information.

  • Negotiating Settlements: Negotiate settlements with customers who are unable to pay the full amount owed. Determine acceptable settlement offers based on factors such as the age of the debt, the customer's financial circumstances, and the organization's policies.

  • Recording and Updating Information: Maintain accurate records of all communication with customers, including payment arrangements, promises to pay, and any disputes or issues raised. Update account information in the organization's database or collections system as needed.

  • Compliance with Regulations: Ensure compliance with relevant laws, regulations, and industry standards governing collections and debt recovery practices. Adhere to ethical standards and follow established procedures to protect customers' rights and privacy.

  • Reporting and Analysis: Prepare reports on collections activities, including delinquency rates, recovery rates, and trends in customer behavior. Analyze data to identify opportunities for improvement in collections strategies and recommend changes as necessary.

CPA Uganda April 2024 Intake

Qualifications and Experience

  • Education: A high school diploma or equivalent is typically required for entry-level positions as a Collections and Recoveries Officer. Some employers may prefer candidates with post-secondary education in finance, accounting, or a related field.

  • Experience: Previous experience in collections, debt recovery, or customer service is often preferred. Experience in a financial institution or lending environment can be especially beneficial.

  • Communication Skills: Strong communication skills are essential for effectively communicating with customers, negotiating payment arrangements, and resolving disputes. This includes both verbal and written communication skills.

  • Negotiation Skills: The ability to negotiate payment terms and settlements with customers is crucial for success in this role. Collections and Recoveries Officers should be persuasive, assertive, and able to find mutually beneficial solutions.

  • Empathy and Sensitivity: Dealing with customers who are experiencing financial difficulties requires empathy, patience, and sensitivity. Collections and Recoveries Officers should be able to understand customers' situations and approach interactions with compassion.

  • Organizational Skills: Effective organization and time management skills are important for managing a large volume of accounts and prioritizing tasks based on urgency and importance.

  • Knowledge of Regulations: A solid understanding of relevant laws, regulations, and industry guidelines related to collections and debt recovery is essential for ensuring compliance and protecting both the organization and the customer.

  • Computer Skills: Proficiency in basic computer applications and familiarity with collections software or databases is often required. Collections and Recoveries Officers should be able to navigate software systems to access account information, update records, and generate reports.

How to Apply

Are you interested? Click the "APPLY" button below to submit your application.

Deadline for Application

May 12, 2024

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