Legal Recoveries Manager Vacancy at Absa Bank Tanzania

Job Description:

The Legal Recovery Manager is responsible for managing and executing all legal processes related to debt recovery in a structured, ethical, and compliant manner. This includes initiating and overseeing legal recovery processes, identifying retail accounts requiring legal intervention, initiating legal action, coordinating with legal partners, tracking legal cases, ensuring timely and cost-effective recovery, and recommending suitable legal recovery actions.

Responsibilities:

Recover bad debts through legal action, payment plans, coordinating with external counsel, and meeting an initial annual recovery target of 1 billion.
Lead detailed negotiations with customers regarding the agreement to, and implementation of, strategy.
Lead proactive formulation and implementation of strategies on managed exits/recoveries.
Maintain strong customer relationships by professionally delivering even difficult messages.
Manage politically sensitive customers and recover debts from them in a professional manner.
Ensure appropriate recovery is achieved and generally provide pragmatic and effective legal support to general management and business functions.
Manage the achievement of service levels and quality.
Monitor the relationships with the bank’s service providers, especially with regards to fees charged by lawyers and service level agreements with them.
Ensure that all classified legal files are properly maintained and have up to date file notes.
Ensure data integrity is maintained.
Prepare summons instructions to external lawyers and manage recovery of debts through the courts, including disposals of debtors’ assets.
Manage relationships with external service providers such as liquidators, executors, sheriffs, messengers of court, accountants, receivers, judicial managers, valuators etc who provide services to matters in Retail Recoveries.
Ensure all legal recovery actions comply with internal policies, regulatory guidelines, and data privacy laws.
Assess legal risks and recommend appropriate recovery strategies.
Prepare periodic reports on recovery performance, legal costs, and case progress
Monitor and manage legal expenses to stay within approved budgets.
Develop network of contacts internally and with local external professionals to maximize effectiveness in assisting customers.
Promote the Collections and Recovery team to internal audiences (including relationship and credit teams and group companies) and professionals.
Stay updated on changes in debt recovery laws and industry best practices.
Contact customers via official mobile phone, email and written communication for repayment arrangements.
Negotiate settlements, repayment plans and restructuring options.
Maintain accurate records of all recovery efforts and customer interactions.
Use management information to monitor and provide feedback to ensure targets are met.
Identify risk skills gaps and communicate and meet identified training needs by effective coaching and counselling.
Provide assistance and advice to team members in formulating strategies regarding the more complicated accounts in their own portfolios
Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
Identify risk skills gaps and communicate and meet identified training needs by effective coaching and counselling.
Continuous and proactive engagement with regulatory bodies, unions where applicable
All mandatory training completed to deadline