Debt Collector at Fast Choice

This is a full-time on-site role for a Debt Collector at Fast Choice Ltd Kenya. The Debt Collector will be responsible for tasks related to debt collection on behalf of the company. The role involves communicating with clients, utilizing computer literacy for record-keeping, managing finance-related tasks, and handling cash collections.

Key Responsibilities:

Team Management & Development

• Lead, train, mentor, and guide the receivables team, focusing on team’s performance.
• Monitor and evaluate the performance of the team through quarterly appraisals and provide feedback letters.
• Provide consistent support, motivation, feedback and encourage team cohesiveness and development.
• Ensure disciplinary standards are maintained within the team to uphold company policies.
• Assist in the recruitment and selection of new team members on need basis
• Organize training sessions to enhance team skills in collections, reconciliation, and customer service.
• Develop a training plan within the department to keep the team updated on new policies, software, and best practices.
• Conduct regular departmental meetings to review team performance, address challenges, and discuss improvement strategies.
• Coordinate with other departments as needed to resolve disputes, track deliveries, and ensure efficient receivables processing.

Interdepartmental Support

• Providing timely hands-on solutions to customer issues that are posing risks to debt collection.
• Follow up on audit findings and ensure closure.
• Foster strong relationships with clients to support business operations and prevent payment delays.

Daily Collection & Reporting

• Oversee the daily updates on collections and maintain accurate records of all collection activities.
• Prepare and present accurate daily reports on collections status and overdue accounts to senior management.
• Ensure daily activities are aligned with set performance targets.
• Negotiate payment plans with customers

Debtors Reconciliation & Overdue Debt Management

• Attain and exceed a monthly debt collection target of 30M to ensure stable cash flow throughout the year.
• Collect all bad debts within a maximum of 90 days and all debts within a maximum of 90 days.
• Conduct and review regular debtor reconciliations, identifying and resolving discrepancies promptly.
• Focus on overdue debtors, with special attention to accounts highlighted as high-risk or “in red.”
• Proactively follow up on overdue accounts to minimize outstanding debt levels.
• Conduct regular reconciliations of customer accounts and ensure updates in the accounting system.
• Handle escalated collection cases promptly.

Credit Policies & Due Diligence

• Ensure consistent adherence to credit policies, conducting thorough due diligence on the forms of all new accounts to ensure it’s well done.
• Oversee the credit application process and ensure all necessary approvals are obtained.
• Regularly review and update credit policies and legal regulations to reflect current business needs and risk levels.
• Adhere to strict watch lists and credit rating policies.
• Conduct timely due diligence to prevent bad debts and manage credit application approvals.
• Ensure that new clients are signed off by 2 Heads of Departments (HODs).
• Authorize credit for existing customers up to 1M.
• Develop and implement strategies to improve collection rates and enhance collection process

Banking & Cash Management

• Manage the cash banking and receipt processes, ensuring timely deposits and accurate recording in financial systems.
• Oversee the reconciliation of cash transactions and address discrepancies immediately.
• Ensure weekly banking of cash and cheques received, and maintain accurate posting and updating of transactions in the system.

Credit Notes & Delivery Notes

• Ensure efficient processing of credit notes, obtaining necessary approvals and updating systems accordingly.
• Follow up on delivery notes and maintain a comprehensive filing system for future reference and reconciliation.
• Process and manage customer credit notes for approvals and system updates, ensuring records are maintained accurately.

Customer Support

• Provide timely support to customers through prompt correspondence, invoicing, and account statement reconciliation.

Management & Statutory Compliance Reporting

• Prepare, analyze, and present management reports on receivables performance, collections status, and overdue accounts.
• Ensure departmental activities comply with statutory requirements and company policies.
• Safeguard the company against business risks related to VAT by ensuring timely generation of invoices.

Qualifications

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A master’s degree or professional certification (CPA, ACCA) is an advantage.
• Minimum of 5 years of experience in accounts receivable or credit management, preferably within a manufacturing or trading environment.
• Strong knowledge of financial reporting, budgeting, and cash flow management.
• Proven experience in managing accounts receivables, bad debt collections, and customer relationships.
• Excellent analytical skills and attention to detail.
• Proficiency in accounting software and ERP systems (e.g., Sage, Odoo).
• Strong leadership and team management skills.
• Excellent communication and interpersonal skills.
• In-depth knowledge of credit policies, statutory compliance, and debt recovery strategies.