Recoveries Officer

**Requisition Details & Talent Acquisition Contact**
- REQ 137554 - Sabelo Phiri
- Closing Date - 10 January 2025

**Cluster & Location**
- Total Business Banking and Retail - CDR - Legal Recoveries
- Sandton, Gauteng
- Career Stream
- Credit Recoveries
- Leadership Pipeline
- Manage Self: Technical

**Recoveries Officer**

**Job Purpose**
- Support external vendors to recover outstanding monies both on and off balance sheet on current and savings accounts by following internal and legal processes and procedures; which results in reduced costs and losses for the bank.

**Responsibilities**:

- Maintanance of Default and Recoveries system/ SAP by daily capturing of cashflows and maintaining of impairments.
- Allocation of funds in the department's suspense account.
- Arrange settlements with clients
- Monitoring of costs versus recoveries for on and off balance sheet matters.
- Monitoring of portfolio in terms of age in line with targets set as per legislation guidelines
- Validating of payments into clients accounts daily, General Ledger.
- Returns daily (pay no pay)
- Rehabilitation of client accounts within a set payment criteria (6 consecutive payments).
- Validation and payment of invoices received from vendors by consolidating the payment file
- New handovers from regional risk to legal recoveries.
- Request original security documents from Securities department.
- Request evaluations on all assets from Evaluations department.
- Liasing with the Insurance division to check whether the fixed properties are insured or not.
- Allocation of work to external stakeholders (vendors)
- Ensuring that Litigation Guidelines are adhered to while maintaining good relationship with vendors.
- Performance management of vendors as per the SLA.
- Assist clients with payment arrangements and respond to all client requests or queries within specified turn around time.
- Engage with various departments for various processes (student loan, debt review, admin support etc)
- Processing of DI (Department Industry) entries on SAP (raising of fees and service provider fees, write offs)
- Maintaining evaluations register by capturing on a diary system.
- Processing monthly work in progress sheet
- Requesting cheques by completing a cheque requesition.
- Completing a Debit Credit Waste Capturing.
- Completing monthly Operations Committee Meeting reports.
- Maintaining D and R which includes capturing of recovery forecasts, actual recoveries and impairments.
- Pre-checks on new handovers from the region.
- Requesting securities from Security department.
- Daily reconciliation by validating payments received from clients directly into their accounts as well as the suspense GL accounts.
- Debt management.
- Reinstatement of legal accounts by uplifting of blocks and holds and requesting approval from stakeholders.
- Issuing settlement letters to clients.
- Conducting monthly operational meetings with vendors.
- Preparing loss reports (written off accounts)
- Requesting documentation from external vendors (legal documents, death certificates etc)
- Processing refunds by requesting documentation from external clients and seeking approval from management.
- Completing monthly vendor trackers.
- Judgement clearance certificates by providing the required information within 7 days to the relevant Credit Bureaux.
- Keep abreast of legislation and other industry changes that impacts on role by reading the relevant newsletters, websites and attending sessions.
- Ensure information is provided correctly to stakeholders by maintaining knowledge sharing knowledge with team.
- Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g. staff surveys etc).
- Participate and support corporate social responsibility initiatives for the achievement of key business strategies.
- Identify and recommend opportunities to enhance processes, systems and policies and support implementation of new processes, policies and systems.
- Minimum Experience Level
- Minimum 3 to 5 years Collections experience in a Contact Center / Call Centre environment
- Of which, 2 to 3 years should be collections within a bank

**Requirements**:

- NQF Level 5 or Higher in Banking or Paralegal Studies a must.
- Matric / Grade 12 / National Senior Certificate
- Must have clear ITC and Criminal Record

**Technical / Professional Knowledge**
- Administrative procedures and systems
- Banking procedures
- Data analysis
- Governance, Risk and Controls
- Microsoft Office
- Relevant regulatory knowledge
- Relevant software and systems knowledge
- Business writing skills
- Cluster Specific Operational Knowledge
- Behavioural Competencies
- Communication
- Continuous Learning
- Collaborating
- Stress Tolerance
- Work Standards
- Managing Work
- **_Please contact the Nedbank Recruiting Team at +27 860 555 566_