In 1965, the Standard Bank of South Africa merged with the Bank of West Africa acquiring businesses including a banking operation in Nigeria, which dated back to 1894. The name was then changed to Standard Bank of West Africa. Four years after the merger, Standard Bank Nigeria was incorporated locally to take over the business in Nigeria. In 1971, 13% of the share capital was placed with Nigerian investors. The end of the civil war saw a major economic upturn and as a consequence, the military government sought to increase local control of the retail-banking sector, hence the Bank’s investment in Standard Bank Nigeria (renamed First Bank of Nigeria in 1979) was reduced to 38%. Standard Chartered remained a shareholder of First Bank of Nigeria until 1996.
Standard Chartered re-entered Nigeria in 1999 and opened to customers on 15 September 1999 as a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in United Kingdom. It now has 42 branches located in Lagos, Port Harcourt, Abuja, Ibadan, Kano, Kaduna, Maiduguri, Ota, Aba, Onitsha and Onne offering a wide range of products and services in Retail, Corporate and Institutional Banking. It employs over 900 employees and sees Nigeria as a growth centre.JOB SUMMARY
Call and cover all assigned accounts as per the Collection strategy
Ensure effective tele-calling to maximize $ Collected and minimize losses by collecting the Total Amount Due
Controls and Governance – Comply fully with Calling scripts, Call pitch and Strategy and abide to the Do’s and Don’ts of Collections
Maintain a clean work area
Minimize risk by escalating/recommending issues to People Leader timely
Strong negotiation qualities whilst treating the customers fairly
RESPONSIBILITIES
Call and cover all assigned accounts as per collection strategy
Ensure effective tele-calling to maximize Recoveries ($ Collected) and minimize losses by collecting the Total due amount
Comply fully with Calling scripts, Call pitch and Strategy
Abide to the Do’s and Don’ts of collection
Maintain a clean work area
Escalate/recommend issues to minimise risk
Timely escalation of high-risk accounts to People Leader
Adherence to the minimum number of calls required for all Collectors to make
Meet the monthly Collections target as advised
Remain alert to the risk of money laundering and assist in the Bank efforts in combating it by adhering to the key principles in relation to: Identifying your client, knowing your client, reporting suspicions, safeguarding records and not disclosing suspicions to clients. Ensure your staff are trained in combating money laundering
Raise repayment recovery and MARCIS schedules and upload on E-OPS
Ensure delinquent accounts are blocked for loan repayment
Follow-up with Employee Banking where necessary e.g. on salary domiciliation issues
Ensure data confidentiality and appropriate handling of customer documents
Ensuring proper management of post-charge off accounts for Secured and Unsecured lending products
Contribution to the Collections Team’s overall and overarching collective objectives
Ensure complete Collections follow-up trails on CACS
Ensure update of database for cardholders change of addresses, telephone nos. and other appropriate information relevant to collection follow-up
Escalate any system irregularities that may have been noted while using CACS
Be an excellent team player
Any other duty as may be assigned
Strategy
To manage and control all matters relating to CPBB Clients Charge off Accounts (Loans) by constantly reviewing Collections procedures and ensuring early recovery actions are taken to maximize prospects of full recovery
Highlights and analyses credit failures to identify ways of improving the credit approval process
To maximize collections/recoveries of charged-off debt
Contacts delinquent loan customers to negotiate payment schedules that are acceptable to the Bank and customers
Identify control weaknesses and recommend remedial action and best practice as appropriate
Reduction of net provision through effective collections and thus impact positively on profitability.
Business
Contribute to the Business’s growth by cooperating reasonably within acceptable Control and Governance realms
Effective management of collections operation to meet the net credit loss as well as net credit cost goals of the business
Ensures remedial action is taken when required to keep performance in line with business objectives
Reduction of net provision through effective collections and thus impact positively on profitability
Processes
Manages the day -to-day operations of collections to ensure losses are minimized and recoveries maximized by the effective implementation of collections activities
Review and assess all newly identified delinquent loan accounts and introduce recovery action aimed at minimizing losses by error reduction
Contacts delinquent loan customers to negotiate payment schedules that are acceptable to the Bank and customers
Highlights and analyses credit failures to identify ways of improving the credit approval process
Contact through telephone, letters
Perform administrative work related to Collections
Recommend accounts for legal action
Maintain departmental databases, charge off, deceased etc.
Assisting the CCH to identify control weaknesses and recommend remedial action and best practice as appropriate
Assisting CCH to implement changes to systems, procedures and structures to maximize quality of portfolio and minimize risk
Risk Management
Maintain an eagle-eyed approach to the identification of risks
Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
The ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures
Remain alert to the risk of money laundering and assist in the Bank efforts in combating it by adhering to the key principles in relation to: Identifying your client, knowing your client, reporting suspicions, safeguarding records and not disclosing suspicions to clients. Ensure your staff are trained in combating money laundering
Minimization of credit losses
Ensure confidentiality and appropriate handling of client documents.
Governance
Follow the guidelines around how we do our business e.g. around approving authorities
Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight, and controls in the business and, if necessary, oversee changes in these areas
Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role
Responsible for delivering ‘effective governance’; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner
Regulatory & Business Conduct
Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Lead to achieve the outcomes set out in the Bank’s Conduct Principles
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders
Country Head, Collections & Recoveries Nigeria
Country Credit Head (CCH)
CPBB Products
Client Experience, Nigeria
Lending Operations
Employee Banking
Our Ideal Candidate
Bachelors Degree
Role Specific Technical Competencies
Negotiation Skills
Probing Skills
Organizational Abilities
Good sense of Risk
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