Senior Manager - Collections (SME) at FairMoney Nigeria

FairMoney is building the leading mobile bank for emerging markets. We started with a digital microcredit application on Android, and currently roll out additional financial services (current account, savings, debit card) while expanding the product to Western Africa and South-East Asia.

We are recruiting to fill the position below:

Job Title: Senior Manager - Collections (SME)

Location: Lagos
Job type: Full time
Department: Operations

Description

• The SME Collections Head is part of the operations & risk management and is accountable for overseeing the operations and implementation/testing of FairMoney’s Collections Strategies.
• He/She will be required to analyze various collections-related metrics and work with other stakeholders in the SME team to ensure continuous portfolio monitoring and performance management.
• To manage Collection processes enabling the smooth execution of all processes to ensure maximum customer satisfaction is achieved and service levels are met or exceeded.
• To lead teams to meet and exceed business objectives ensuring the consistent achievement of all financial and operational KPIs across the department.

The Objective of this Role

• Maintain constant communication with management, staff, and vendors to ensure proper operations of the collections unit.
• Develop, implement, and maintain quality assurance protocols.
• Grow the efficiency of existing processes and procedures to enhance and sustain the organization’s internal capacity.
• Actively pursue strategic and operational objectives.
• Ensure operational activities remain on time and within a defined budget.
• Track staffing requirements, and hire new employees as needed.
• Manage the overall collections activity for the SME business.

Roles and Responsibilities

• Responsible for the management and development of the collections teams ensuring that each area within the department meets its KPIs and ensures compliance with all company policies and procedures.
• Ensure that robust collection procedures are in place with a specific focus on reducing overdue debt & improving cash receipts delivering a seamless end-to-end process for the customer.
• To lead and implement strategic initiatives linked to FairMoney corporate objectives in order to ensure continuous improvement and best practices.
• Responsible for ensuring that the headcount and departmental operating costs are within budget and that costs are well controlled.
• Lead, motivate and organize personnel to adhere to FairMoney core values and deliver a high level of staff engagement.
• Work with other areas to ensure alignment of structure, process, and procedure, sharing best practices and driving continuous improvement.
• Introduce/maintain high levels of process automation to reduce costs and increase the speed & timeliness of transactional processing.
• Ensure all staff is properly trained and have appropriate resources available to be successful in their roles.
• Instigate legal proceedings against delinquent debtors and ensure management of associated costs.
• Direct involvement in the recruitment, selection induction, and ongoing skills development for all direct reports, ensuring we attract and retain the best talent.
• Line management responsibility for Team Leads and Team members.
• Undertake formal performance reviews and 1:1 meetings with direct reports against KPIs.
• Management of any campaign migration or new business implementation.
• Overall accountability for training, development, and mentoring of direct reports to provide opportunities for skills expansion and career development.
• Facilitate a culture of open and honest 2-way communication ensuring key messages are cascaded.
• Ensure call monitoring is undertaken and reported monthly across representative samples of all transaction types and appropriate action is taken to correct any shortfall.
• Management of any operations escalations relating to the Operational team’s performance.
• Preparing, analyzing, and presenting data to the Ops Head as part of weekly and monthly performance reviews.
• Ensure forecasts and work schedules are accurately completed using relevant data information and scheduling tool.
• Initiate the review of the collection strategy manual and queuing criteria on a quarterly basis or as business requires.
• Initiate a review of the Collections Procedures Quarterly or as business requires.
• Agency appointment and supervision. Coordinates the activities of the external agent which include but are not limited to engagement, a compilation of cases, a review of performance, and periodic reports.
• Monitor and ensure that the external collectors adhere to the Code of Conduct. Ensure all customer payments are acknowledged by receipts and final discharge when resolved.
• Supervise visitation of defaulting clients for prompt recoveries.
• Manage settlements and negotiations of delinquent accounts where required.

Requirements

• Bachelor’s Degree in Finance, Accounting, or a related field.
• 6+ years of relevant experience as a collections manager.
• Experience with accounting software.
• Experience working with external debt recovery agents.
• Good data analysis skills (MS-Excel, Tableau).
• The ability to work accurately and independently.
• Good verbal and written communication skills.
• Excellent analytical skills and an eye for detail.
• Outstanding leadership and managerial skills.
• Strong time and people management skills.
• Ability to work to strict deadlines.

Benefits

• Private Health Insurance
• Pension Plan
• Training & Development
• Performance Bonus

Application Closing Date
Not Specified.

Method of Application
Interested and qualified candidates should:
Click here to apply online

Recruitment Process

• A screening call with the Senior Recruiter ~30 minutes
• Case Study (takeaway) to be done at home ~72 hours.
• Technical interview with the hiring manager ~30 minutes