Vacancies at Inkomoko

About the Opportunity

We are looking for a motivated and experienced Shariah Officer (SO) to join our team! You will be responsible for ensuring compliance with Islamic principles in investment activities and operations in the organization.

You will play a key role in advising on the Shariah-Compliance of products, services, and investments, and provide guidance to the organization to ensure adherence to Shariah laws and regulations. The following responsibilities and qualifications typically associated with Shariah Officer.

Responsibilities

• Shariah Compliance: Monitor and ensure that all financial activities of the organization are in line with Shariah principles and guidance.
• Risk assessment: Conduct periodic reviews and audits to identify potential risk and non-compliance with Shariah principles and regulations.
• Product Development: Provide advice and input on the development of Shariah-Compliant-products, service and investment activities.
• Research: Stay updated with current developments and trends in Islamic finance and Shariah-compliant practices.
• Documentation and reporting: Prepare reports, documentation, and ensure proper record-keeping to demonstrate the organization’s adherence to Shariah Compliance.
• Shariah Audit: Coordinate and facilitate internal and external Shariah audits to assess the organization’s compliance with Shariah requirements.
• Training and Education: Conduct training sessions and workshops to educate employees and stakeholders on Shariah principles and Islamic Finance.

Minimum Qualifications

The ideal candidate will fulfill the following requirements:

• Minimum of a Bachelor’s Degree in a related field
• A minimum of 4 years of experience in a Islamic Finance.
• Understands all shariah finance contracts and and execution
• Excellent communication skills, both verbal and written in English & Swahili. Local language is an added advantage.
• Understanding of micro-businesses, loans and savings products will be an addition.
• Strong understanding of Islamic finance principles and Shariah jurisprudence, with the ability to interpret and apply them in organization’s activities.
• Professional Qualifications. Relevant certificates or qualifications in Islamic finance, Shariah compliance or related fields would be an advantage.
• Excellent computer skills, especially with MS Excel and Word
• Strong interpersonal skills.
• Strong presentation and organizational skills
• Ability to work well in a team environment and in a fast-paced environment
• Critical-thinker and problem-solver
• Shows perseverance, personal integrity, and critical thinking skills

What You'll Get

This role is a tremendous opportunity to work in a high-growth, mission-driven organization. Our compensation includes both a great culture and a competitive market-based package, including:

• Incredible company culture, including deep investment in your learning and growth, and a commitment to inclusion and diversity
• Opportunity to work with a talented, passionate, and committed team of professionals across the region
• Ability to make a significant social impact and contribute to economic growth
• Competitive salary, and potential KPI-based bonus
• Favorable policies like health insurance, staff savings program, parental leave, sabbatical program, and more.

go to method of application »

About the Opportunity

The Recovery Officer Key responsibility will be to alert, follow up, recover defaulted loans by conducting site visits, coordinating with local authority, manually settling overdue, blocking accounts of overdue clients, and solving the problems with overdue and defaulted clients. We are hiring for Nairobi, Mombasa, Eldoret & Garissa.

Responsibilities

Loan monitoring (40%)

• Monitor the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
• Identify and escalate repayment irregularities for further management action
• Preparation of monthly portfolio report for Management decision
• Preparation of weekly portfolio reports for credit review meetings
• Compute weekly PAR report including; product, individuals and SMES PAR analysis
• Evaluate product performance through collection and data analysis
• Provide weekly report on turnover on loan accounts
• Maintain an effective trigger reporting system of credit impairments and propose corrective actions
• Provides support to Loan officers, loan managers and compliance officers on Non-performing loans
• Call, visit and send periodic reminders to loan customers on scheduled repayments
• Conduct post disbursement spot checks on customers to confirm loan performance and utilization
• Monitoring defaulters' repayments to stop recurrent non-compliance
• Maintain PAR level in compliance with CBK regulations
• Follow up with Finance department to reconcile payments received and real time transaction postings
• Responsible for achieving monthly PAR target
• Negotiate payment plans with defaulters
• Initiate receivership process with the lawyer

Debt recovery (60%)

• Monitor allocated portfolio of delinquent loans facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within predetermined broad policy guidelines and regulation to minimize credit losses
• Ensure compliance to Inkomoko’s Credit Policy and Procedures regarding management of debt recovery process
• Maintain and prepare monthly collections reports, updates and status
• Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
• Undertake regular and frequent calls, site visits, and follow-ups with the borrowers to implement remedial strategies and action plans for loan recovery
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
• Ensure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with lawyer
• Develop and continuously review credit and recovery policies and procedures ensuring their compliance.

Minimum Qualifications

The Recovery officer will be a trusted partner of Inkomoko  Trustee clients, and basic qualifications Include:

• A university degree in Finance, Business Administration or other related field.
• Must speak fluent English, and Swahili. Knowledge of other local languages is a plus.
• Minimum of 2 years banking of MFIs experience in a credit monitoring /loan recovery role.
• Knowledge of MFIs or banking operations, credit risk management, fraud management, Loan Recovery and Debt Management
• Prior experience dealing with customers/debt collection
• Decisive individuals with ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors pay off the entire debt
• Comfort with the civil court system, and previous experience in litigation preferred
• Unrelenting perseverance, personal integrity, and critical thinking skills
• Must be able to legally work in Kenya

What You'll Get

This role is inside a high-growth, mission-driven social enterprise. By joining, you’ll access:

• Competitive salary, and potential KPI-based bonus
• Incredible company culture, including deep investment in your learning and growth
• Diverse colleagues and policies that show our commitment to equity and inclusion 
• Talented, passionate, and committed team colleagues across the region
• Ability to make a significant social impact to your community
• Generous health insurance, staff savings, parental leave, sabbatical, and more benefits.