PATRICK GACHUHI KIOI
PATRICK GACHUHI KIOI
Address: P O Box 282 – 10101 Karatina (Kenya)
E-mail address: [email protected]
Date of Birth: 1985
A CPA (K), a member of ICPAK, A Banker, A Consultant and a Debt Collector with extensive experience in Debt recovery, Credit Skills and relationship management skills gained through training and experience in Barclays Bank (K) ltd, Business Clinic Consultancy and Izwe Loans Group. Over 10 years’ experience in debt recovery, relationship management and a year in accounting and auditing. My driving passion has been to stay inspirational and continuously motivate myself while deriving satisfaction to team member’s successes and best practice. In Consulting I was able to work independently and make value based decisions effectively. I have empowered the (SMEs) with professional business development services that reflect quality performance and fill a wide range of business needs. The result being the aim to see the businesses move towards increased cash flow, profitability, sustainability and debt management.
EMPOYMENT HISTORY AND PROFESSIONAL EXPERIENCE:
September 2016 to Date – IZWE LOANS KENYA: Head of Collections – Kenya Office
Izwe Loans Kenya is a specialist Financial Solutions Company targeting both the formally and informally employed markets with primary offering of unsecured loans for payroll civil servants and secured lending. The Group established in South Africa in 2004 has grown into a dynamic, rapidly developing pan-African micro-financier and insurer with operations in South Africa, Mauritius, Zambia, Ghana and Kenya.
The Collections Manager in Kenya is responsible for overseeing the collection of all off-payroll collections including but not limited to insurance and loan products across Kenya.
Essential Job Functions:
The Collections Manager –is responsible for:
· Formulation of policies, processes and procedures to ensure efficient and effective off-payroll collections
· Set up the collections department to enhance recovery for all products for payroll and off payroll
· Oversee the setup of collections satellite offices in Kenya
· Ensure all direct debit and standing order deductions through the various banks.
· Ensure all Mpesa and Post-dated cheque payments/collections through the various banks and Deductions are accurate
· Confirm Cash receipts or EFTs directly into Izwe’s bank account
· Dealing with all issues affecting third party deductions as regards payroll and Off payroll
· Confirm all direct debit, post-dated cheques and standing order submission to banks
· Deal with all issues affecting deductions in the various markets including banks
· Works closely with the Finance to implement processes and policies that ensures efficient collections via Debit Orders, Post Dated Cheques, Standing Orders and Payroll.
· Perform monthly reconciliation together with teams in Mauritius and South Africa, in terms of actual versus expected receipts of all accounts and generate report on:
o First Installment Deductions,
o Full payment received,
o Partial payment received,
· Listing clients at Credit Reference Bureau or legal demand procedures in the case of a default
· Maintenance of an excellent filling system and database
· Management of shared call center collections resource in order to retrieve payments
· Daily, weekly and monthly reporting on off-payroll collections performance to executives and senior management
· Analyze arrears based on aging and prescribe appropriate actions to retrieve all arrears from non-performing clients.
October 2013 to August 2016 – THE BUSINESS CLINIC LTD Associate Consultant
Business Clinic is a business advisory consultancy aimed at offering a one stop shop for entrepreneurs and SME’s at all levels of business development. Businesses, like human beings, go through various stages of development and health levels. Our firm, just like a medical clinic, strives to ensure the health of businesses by providing advisory services through every stage of their life. The aim of good care is to detect any potential problems early and prevent them where possible.
This role entails:
Advising SME’S on how to manage their balance sheet to avoid cashflow and profit problems associated with poor financial management.
Identification, classification and management of the Non-Performing Assets (NPAs) portfolios
Formulate debt recovery strategies, negotiate better terms with suppliers/service providers/banks and put controls in place to reduce bad debts and non-performing debts.
· Advice entrepreneurs in business planning and execution. This enable them get funds from financial institutions thus boosting the business turnover.
Reviewing businesses to determine ways to increase profitability have adequate working capital and obtain a competitive advantage.
Work with businesses to enhance productivity, reduce non-value added expenses and create a scalable business model.
Finding where critical problem areas exist and solving these problems on a timely basis to manage Risk.
Help managers and entrepreneurs in defining the hypotheses of their business and put their business idea into focus
· Establish operating control systems, policies and procedures that enable smooth running of the business, production of credible accounting information and prevention of frauds and errors.
· Facilitate in the keeping of accounting records irrespective of industry. This substantially reduces the accounting time and costs of the entrepreneur thus freeing them to concentrate on business growth strategy which they know best.
· Train the entrepreneurs on financial management and interpretation of the numbers in the financial statements i.e. Understanding the Financial Basics, the Critical Importance of Breakeven and understanding the gross margin – the real income of a business.
May to 19th Aug 2013. – BARCLAYS BANK OF KENYA Assistant Relationship Manager
Barclays Business Support
BBS department in Barclays Bank is a specialized risk management team handling accounts that are distressed from Corporate Relationship team and tasked to improve the Bank’s risk profile by resolving problems before they escalate and managing turnarounds. In the event this is not possible the accounts are downgraded to a full recovery process. The role holder performs both relationship management and Credit approval function for corporate customers.
My role entailed the following main duties;
· Credit assessment for corporate customers of potential customers to establish their credit worthiness and preparing credit proposals within the Banks’ credit and lending policy.
· Undertake financial analysis of the customer’s financial statements for purposes of credit approval decisions and restructure of facilities.
· Ensure the credit files are maintained and securities perfection is done and any defects remediated.
· Portfolio management of Corporate accounts spread all over country, writing of credit proposals for new facilities, renewals and restructure of facilities that meet unique customer needs.
· Maintenance of Quality portfolio monitoring through use of risk reports and quarterly management accounts.
· Main contacts for customer service issues in the portfolio and ensure word class service is delivered and promote bank corporate products and services so as to increase the income for the portfolio.
· Formulate strategies for business turnarounds with agreement with the clients.
· Organise and attend customer visits to carry out business appraisal and support business come up with business proposals for effective business turnaround strategy setting.
· Grow the income streams from the clients by cross selling all the banks products especially trade products
March 2008 to May 2013: – BARCLAYS BANK OF KENYA Corporate Recovery Official
Credit Risk– Corporate Recoveries
Corporate Recoveries Department is a credit Risk function tasked with debt recovery. This is a tail end department tasked with full debt recovery of bad debts for SME’s and Corporate for all products in the Bank.
Responsibilities for SME and Corporate Portfolios:
· Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding the agreement to, and implementation of, strategy, e.g. Settlement proposals, etc.
· Lead proactive formulation and implementation of strategies on managed exits/recoveries.
· Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages manages customer satisfaction and enhances the Barclays Brand.
· Manage customers and recover debts from them in a professional manner which leaves a good impression of them about the bank.
· Ensure appropriate recovery is achieved and generally provide pragmatic and effective legal support to general management and business functions on impaired debts of the bank
· Ensure that the necessary sanctions are obtained from superiors for strategies and expenditure whenever necessary.
· Prepare credit reports to relationship managers
· Prepare summons instructions to external lawyers and manage recovery of debts through the courts, including disposals of debtors’ assets.
· Manage relationships with external service providers such as liquidators, executors, messengers of court, accountants, receivers, judicial managers, valuators etc. who provide services to matters in Corporate Recoveries.
· Progress the recovery of debts on classified corporate accounts and ensure their compliance with local regulatory requirements and the bank’s internal procedures.
· Actively manage debtors, to ensure business and banking risks are addressed in a timely manner.
· Submission of data to the CRB accurately and timely for all debtors on a monthly basis.
· Identification, classification and management of the Non-Performing Assets (NPAs) portfolio.
· Strategic review of the recovery options and recommendation of appropriate action. As part of this process, I also provide ‘lesson learnt’ feedback on areas to focus on our credit risk.
· Recommend and have approved provisions for suspension of interest and conduct periodic security discounts in line with the CBK guidelines.
· Recommend write-off in cases where recovery options have been exhausted.
Keep up to date with changes in the legal and regulatory environment with special focus on recovery policies.
Sept 2007 to March 2008. – BARCLAYS BANK KENYA Barclays Business Support
I was involved in the review of all corporate files for audit purposes to ensure the following is done:
· Portfolio management of corporate accounts is done to ensure Compliance with CBK provisions, BBS procedures, Credit assessments and approvals, securities perfections and financial analysis
· Credit assessment for corporate customers is done to establish their credit worthiness within the Banks’ credit and lending policy.
· Financial analysis of the customer’s financial statements is undertaken for purposes of credit approval decisions and restructure of facilities.
· Ensure the credit files are maintained and securities perfection is done and any defects remediated by the legal counsel.
· Proper Portfolio management of corporate accounts is done within the Barclays Lending policies.
· Proper Maintenance of Quality portfolio monitoring through use of risk reports and quarterly management accounts.
· Accurate Management of impairment figures for the portfolio to ensure compliance with the CBK’s impairment Provisional reporting requirements policy.
· Review and ensure customer visits are done to monitor turnarounds progress in line with the set strategies
2006 to 2007: Nairobi Java House
· Entry of day-to-day stock movement transactions.
· Maintaining of ledgers to ensure that transactions are recorded properly.
· Reconciling of bank balances, attending stock takes and preparing and posting in the general ledger.
· Maintaining of debtors and creditors ledger- in sage pastel partner
· Preparation of invoices and posting Reconciling supplier statements with ledgers.
· Posting of inter branch transactions- in sage pastel partner 2005
2005 to 2006: Githongo& Company
· Assisting the internal auditor in carrying out independent tests and assessments of compliance with established corporation policies, procedures and regulations.
· Assisting in the preparation and implementation of audit plans and programs.
· Determination of sample size, sample selection and Raising of management letter points.
· Determining materiality levels, Supervision of stock takes and Internal audit reviews.
CLIENT ASSIGNMENTS HANDLED IN AUDIT
· Local Authority – Nairobi City Council
· N.G.O – G.T.Z – Donor Funded Projects
· Nairobi Water Company
· Law Society of Kenya
· Acacia Medial Fund
CLIENTS HANDLED IN CONSULTANCY AND ACHIEVMENTS
· Elsek Group Of companies – Mombasa – (Established the Risk and Credit Control Department)
· Bridges Organic Restaurant Limited – (Increased turnover from Ksh 50,000 to 200,000 per day)
· Hama Homes Limited – (Pioneered the EPS Technology into the Kenyan Market)
· Kijiji Portable – (Business idea formulation from inception to growth and maturity)
ACHIEVEMENTS at Barclays bank
· I was Key in the debt recovery of complex legacy cases in the Tourism and Real estate leading to a net income of Kes 450M and Kes 150M respectively to the Bank’s P& L. These were bad debt cases that the bank was exposed to lose over Kes 2.5B if these debts were written off. Repayment of the loans was through tough negotiations whilst mitigating litigation, business and reputation risks and involving all stakeholders to achieve the desired results within set timeframes
· On the forefront of implementing a robust CRB reporting system, reducing rejection rates from 84% to below 8% in 2012
· I was able to develop a tool to monitor costs that we pay to external professionals with a view of controlling costs. This tool was meant to monitor all costs that are paid by ensuring that before we pay out costs we ensure we look at the relationship of the total costs to the debt owing.
This ensured that:
· The costs paid towards professionals is not over and above a certain percentage of the debt owing hence using good money to chase bad money
· Evaluate the effectiveness of costs incurred prior and whether there is need to stop incurring costs
· Make a pay/no pay decision to avoid excessive costs with appropriate budgets in check.
ACHIEVEMENTS at Izwe loans kenya:
· Adoption of Collection policies and Procedures that I formulated for the launch of Log Book financing in Ghana.
· An average of 98% collections stats within 12 months of joining and a consistency of 95% month on month to date
· Minimum number of vehicles in the yard at any one time compared to industry competitors.
· Setting up of effective collection strategies and policies to mitigate risk in the Kenyan Market
· Setting up of collection reports with teams in South Africa and providing a bench mark to the Ghana Market to frontier the LOG BOOK department.
· A minimum of 45 days to ensure 100 % collection of delinquent loans and 2% delinquency ratios.
2009 – 2011 THE UNIVERSITY OF NAIROBI
School of Business
Masters of Business Administration (MBA)
Strategic Management Option
2004 to 2007 THE UNIVERSITY OF NAIROBI
Bachelor of Commerce (Accounting option)
Second Class Honors (Upper Division)
1999 to 2002 S.T. MARY’S SECONDARY SCHOOL
Kenya Certificate Secondary Education
2011 – May 2012 Credit Skills Development:
· Commercial lending – By IFS UK
· Advanced lending – by IFS UK
2005 – June 2007 Certified Public Accountant
Institute of Certified Public Accountants of Kenya (ICPAK)
· Qualified as a C.P.A (K) in 2007 and a member of ICPAK
OTHER TRAININGS and courses ATTENDED:
· Havard Management Mentor Course – Completed 15modules
· Confident negotiator course by Rogen SI
· Debt recovery course by Kenya Bankers Association
· Negotiation skills by Receivers – (Begbies Traynor)
· Advanced excel training by IAT
· Public Speaking course by Speech Masters Coaching Service
· Credit Assessment skills training (CAST) by Barclays Bank Kenya
· Report Writing Skills – By British Council
· Finance & Accounting, planning and reporting skills with strong teamwork spirit
· Strong written and oral communication skills, Excellent Analytical and leadership skills
· Ability to multitask and to work with minimum supervision and also to meet tight deadlines
· Good credit risk and relationship management skills
· Strong communication and report writing skills
· Good knowledge of Microsoft Excel and other spreadsheet/database applications
· Proficiency in use of internal IT systems for credit reporting
· Debt recovery techniques and negotiation skills
· Member of Accounting Students Association (University of Nairobi)
· Prepared a paper titled “THE EXTENT OF MOBILE COMMERCE ADOPTION BY SELECTED SMALL AND MEDIUM ENTERPRISES IN THE CENTRAL BUSINESS DISTRICT OF NAIROBI, KENYA” Through this SME’S have transformed the mobile technology to unimaginable capabilities.
IZWE LOANS KENYA
P.O. BOX 7536 – 00100
THE BUSINESS CLINIC LTD
P.O. BOX 28254 – 00200
HEAD OF CORPORATE RECOVERIES
BARCLAYS BANK KENYA
P.O. BOX 30120 – 00100
- 2009 - 2011
MASTERS - STRATEGIC MANAGEMENT at UNIVERSITY OF NAIROBI