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Officer, Collection Monitoring At Stanbic IBTC

Date Posted: 29/Mar/2014
Deadline: 11/Apr/2014
  • Specialization Admin / Finance
  • Industry
  • Experience 0 year(s)
  • Location Nigeria

Position Description

To implement the robust collection monitoring processes of Stanbic IBTC Bank that would ensure that customers on the key distributorship finance scheme of the bank run their accounts efficiently and profitably.

This includes responsibility for enhancing the quality of the bank’s loan portfolio in conjunction with the other stake holders.

Key responsibilities

• Undertake daily monitoring of assigned key distributors’ accounts for transactions flows and activities.
• Undertake a comprehensive stock count and other activities of customers, related to CMU in line with approved sanction and various distributorship schemes
• Track collection from the key distributors under the scheme to avoid any possible diversion of sales proceeds.
• Undertake accounts performance review in relation to the credit turnover, stock coverage etc. covenants of the facility and ensure strict adherence.
• Escalate potential defaults (i.e inappropriate payment, failure to meet turnover covenants etc).
• Confirmation of LPOs, Invoices, Payment domiciliation letters and other documents prior to disbursement on facilities within the acceptable time 
• Prepare monthly transaction status report to Management
• Ensure the funding limit availed to key distributors are not exceeded
• Preparation of relevant reports as required

Key performance measures

• Regular stock taking at key distributors’ warehouses/stores
• Provide timely report to management for effective decision making.
• Timely confirmation of LPOs, Invoices and other documents within the agreed TAT.
• Provide effective support to stake holders in the scheme.
• Daily review of assigned customers’ account and report as appropriate.

Key dimensions of the job

• Supporting the Stanbic IBTC Bank sales channels by providing them with relevant information to effectively meet and exceed sales targets.
• Providing integrated and accurate information with regards to effective functioning of key distributors’ accounts


Method of Application

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