Chief Recovery Officer

Mahalaxmi Bikas Bank Ltd., one of the leading National Level Development Banks guided by the vision of Most Trusted Bank” having 103 branches across the Nation is seeking applications from highly motivated, energetic and result oriented Nepalese Citizens to work at different locations including Central Office for the following positions:

Job Code: 00003

Chief Recovery Officer (CReO)

Position: Senior Manager (SM)

Job summary

The Chief Recovery Officer (CReO) is responsible for developing and implementing strategies to recover non-performing assets (NPAs) and managing distressed loan portfolios efficiently. The candidate must possess strong leadership analytical and risk management skills to drive the banks effort in reducing credit losses and ensuring the Overall health of loan portfolio of the bank.
The CReO is responsible for planning, leading, and executing strategies to recover the bank’s assets, mitigate credit risk, and ensure financial stability during challenging economic conditions. This role is vital in safeguarding the bank’s financial health, reputation, and long-term viability.

Key Competency / Duties

• Manage NPA accounts and discuss with customers on credit solution defined as per recovery manual.
• Ensure that documentations relative to the debts are up-to date (search on asset, security documents, and property valuation reports)
• Ensure legal recovery within a reasonable timeframe as defined in collection and recovery process policies and strategic manual.
•  Lead the strategic planning and execution of NBA recovery efforts.
• Develop and implement policies, procedures, and strategies to maximize NBA recovery.
• Strict adherence to the recovery process and policies, as well as regulatory guidelines whilst at the same time ensuring proper adoption by the bank recovery team member.
• Adopt proper record management principle as defined by the bank in terms of upkeep and filing of documentation.
• Ensure that submission timeline is respected with no delay to internal as well as external stakeholders.
• Develop good rapport and liaison with other department relative to any recovery process or activity.
•  Provide management on regular on regular basis trend analysis of the portfolio and recommend credit measures to be applied.
• Ensure early follow-ups of the accounts for timely reviews of EMIs and interest as appropriate.
•  Actively participate in the hand-over process of the file transfer of non- preforming accounts with RMs/ Managers of respective business units.
• Regularly conduct site visit of high-ticket size NPA account to assess the recovery scope and also define on the recovery strategy to be adopted.
• Drive the team relentlessly to deliver as per agreed business objective and beyond
• Manage the impaired book to ensure that impairment is reduced and kept at the business risk level.
• Keep abreast with latest changes within the recovery process, Credit environment and changes within banking regulation.
•  Set recovery targets after review of classified portfolio and get it agreed to by management – Follow up and recovery and ensure that the recovery targets are achieved.
• Work-out recovery strategic and action plans and recommend / obtain approval for the same for implementation.
• Monitor the classified portfolio on an ongoing basis and initiate appropriate remedial measures as warranted by improvement / deterioration.
•  If needed, participation along with BMS/RMs in negotiation with borrowers. This also includes onsite visits to borrowers’ place of business to evaluate proposal for restructuring and revival of the problematic account with special attention to cash flow capabilities and assessment of financial strength.
• Establish a system that helps to identify problems loan ahead of time when there may be more options available for remedial measures. Analysing all loans in default/arrears and recommend appropriate action plan of recovery. Evolve recovery/ remedial/legal strategic, process and obtain the necessary approvals and implement related action plan as approved.
• Necessary to be familiar with the legal framework and have the know-how to recommended next course of action
•  Extract maximum benefits from NRB Guidelines/circular/directives for recovery of loans.
•  Make necessary contacts with the prospective buyers of collaterals to be sold through auction of NPA accounts and NBA.
• Up to date filing of all problematic accounts.
• Liaison with Province Managers/BM/RMs and get update regarding recovery progress.
• Supervise staff under his/her responsibility.
•  Ensure that the internal follow up letter/public/auction notice is published on time as per Bank’s recovery manual.
• Ensure fully comply with NRB directives and prevailing rules/regulations on default accounts, so that prompt and timely recovery measures are taken.

Qualifications / Experiences

Must have completed at least CA or Master Degree from recognized university.
Minimum of 10 years of experience in Commercial Banks and at least 3 years of experience in related job functions. Must be currently working in the position of Manager for at least 3 years.

The deadline for applications for all positions is MARCH 31, 2024.

Tagged as: Bank Jobs, Kathmandu, Mahalaxmi Bikas Bank, Recovery Officer