Job Purpose:

The Manager - Remedial minimizes financial losses by proactively overseeing overdue and defaulted accounts. He/ She develops and executes effective remedial strategies, negotiates viable payment solutions, and collaborates closely with collection function and legal affairs department to ensure comprehensive delinquency management. The Manager - Remedial aligns recovery efforts with the bank’s financial goals, enhancing debt recovery efficiency and safeguarding the institution’s financial health.

Key Accountabilities:

Leads, mentors, and manages the Remedial team to align with remedial goals, fostering a results-oriented environment and providing guidance, training, and support to enhance team performance and morale.
Executes the robust remedial strategies aimed at maximizing debt recovery while preserving customer relationships and supporting a positive client experience.
Continuously evaluates the performance of the Remedial function, identifies opportunities for improvement, and implements changes to boost operational efficiency and effectiveness.
Ensures all remedial activities comply strictly with banking regulations, industry standards, and legal requirements, safeguarding the bank from regulatory risks.
Monitors customer accounts and financial records proactively to identify irregularities and high-risk accounts, assessing and mitigating risks associated with non-performing loans.
Negotiates complex payment plans, restructures, and settlements personally with clients in financial difficulty, balancing recovery objectives with client goodwill.
Oversees the maintenance of accurate, up-to-date records of all customer interactions and financial transactions, ensuring data integrity and transparency.
Generates comprehensive reports on delinquency rates, recovery metrics, and remedial performance, providing actionable insights and recommendations to the Head of department.
Resolves disputes with a focus on achieving both customer and Bank’s satisfaction, reducing potential escalation or legal action.
Educates Remedial staff on related compliance, financial responsibility, and customer-centered approaches, fostering a knowledgeable and compliant team.
Collaborate effectively with control function departments, Operations and Business, ensuring a unified approach to handling complex cases.
Recommends the Remedial Department's budget and resources to the Head of Department, aligning expenditures with functional objectives to maintain operational efficiency.

Qualifications and Experience:

University or College diploma in finance, accounting, or a related field.
A professional certificate in Remedial and Collection (e.g., CCCP, CCS, CPDC) is desired.
Minimum of 6 years of experience in Remedial and Collection in a bank.
Proven leadership experience in a remedial role within the banking or financial sector.
Strong knowledge of local banking regulations, financial compliance, and remedial strategies is preferred.

** Applications will be accepted until 24-Nov-2024

Submissions received after this date will not be considered **

Oman Housing Bank | بنك الإسكان العُماني

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Manager - Remedial