Elita M. Shumba
Lusaka
Summary
Professional with extensive experience in collections management and credit risk analysis, demonstrating a strong ability to develop and implement strategies that align with business objectives. Successfully managed departmental costs while ensuring accuracy in financial reporting and compliance with regulatory requirements. Proven track record in fostering collaboration across functions to address market shifts and enhance operational efficiency. Skilled in training and developing teams to achieve excellence in collections processes and outcomes.
Overview
10
10
years of professional experience
Work History
Head of Collections
Standard Chartered Bank
Lusaka, Zambia
03.2021 - Current
- Approving collection and recoveries strategies to meet roll-rate goals, reduce charge offs and maximize net recoveries.
- Accountable for satisfactory closure of issues/gaps arising from internal audits, business risk review and regulatory review.
- Accountable for cost/expenses of the collections department, ensuring accuracy of balances and adequacy of accruals in the collections cost centre.
- Communicating on a regular basis, to counterpart in Credit Risk function and business streams on market intelligence & significant shifts in customer/segment behavioral patterns, to facilitate timely revision of policies, procedure, and business strategies.
- Managing cost within budget and forecast. Understanding cost drivers, trends and seasonality and monthly budget/actual/forecast variances. Accountable for accuracy of cost submissions.
- Managing capacity planning, in accordance with Group collections to ensure that adequate collection resources are in place to design effective strategies, deliver collection results in line with business objectives.
- Encouraging and promoting active training and learning environment to facilitate excellence in collections management.
- Working with collections MIS and strategy units in identifying opportunities for challenger test scenarios, to promote improvements in Collections and Recovery processes.
- Ensuring submission of internal and group reporting is done with accuracy and before deadlines.
- Ensuring timely & accurate submission on central bank requirement during onsite inspections. Timely closure of observations.
- Overseeing career development plans for direct reports, to assure robust succession planning to ensure that adequate collection resources are in place to design effective strategies, deliver collection results in line with business objectives.
Corporate Credit Analyst
Standard Chartered Bank
Lusaka, Zambia
09.2024 - 04.2025
- Timely conducted and drafted credit analysis assigned.
- Evaluated risks associated with particular proposed transactions, where required.
- Discussed other pertinent risk aspects, including country risk, fraud risk; parental and/or governmental linkage/support, relative ranking of indebtedness.
- Assessed funding strategy, financial policy, treasury activity (hedging, cash management) and liquidity.
- Developed current / forward year base forecast performance expectation.
- Assessed balance sheet strength, alongside cash flow and profitability vulnerability, via ratio analysis and/or stress testing.
- Completed ESRA (Environment and Social Risk Assessment) Checklist;
- Supported the business on structuring deals.
- Tested and Monitored Covenants & Risk Triggers.
- Discussed dynamics and nature of the Client’s industry, including key risk aspects.
- Assessed the Client’s competitive positioning within its industry.
- Effectively and collaboratively identified, escalated, mitigated and resolved risk, conduct and compliance matters.
Rehabilitation and Recoveries Manager
Cavmont Bank
Lusaka, Zambia
11.2018 - 01.2021
- Designed and implementef effective collections strategies and tactical interventions to ensure proper management of credit risk.
- Ensured compliance with statutory, regulatory, and supervisory requirements, to protect the reputation is the Group and avoid legal action or sanction in respect to regulatory breaches.
- Created core competency in strategic customer Debt Management methodologies that enabled sound collection and recoveries management.
- Timely identified and actioned arrears to minimize non - performing loans.
- Controlled and improved provision adequacy, roll rates and costs and maintaining appropriate and uniform customer debt management policies and practices across portfolios.
- Managed impairment charges by ensuring timely moving of accounts to Legal and minimizing write-offs.
- Built a sound and effective partnership model with Credit, Business, and outsourced parties.
- Provided inputs, attended, and presented to all relevant credit committees.
- Presented Non-performing loans to the Board members during the Board Credit and Committee meetings.
- Ensured accuracy of all regulatory reports.
- Approved accreditation of external parties providing related services encompassing repo agency collections, litigation and asset valuation and deposition.
Credit Risk Management - Business Banking
Stanbic Bank
Lusaka , Zambia
05.2018 - 11.2018
- Ensured all necessary controls and systems were in place to address the risks encountered in the post-credit granting stage of the credit process.
- Loaded limits approved for draw-down of facilities once all terms and conditions of sanction/covenants were met, and all required collateral was obtained and in legal order.
- Conducted annual review of facilities to assess clients' debt serviceability.
- Monitored adherence to covenants and conditions on a continuous basis and escalate any material breaches.
- Loaded review dates, new risk grades, interest rates and limits on approved applications.
- Actioned Internal and External Audit reports and ensured that any shortcomings highlighted were sufficiently addressed.
- Kept Internal Audit Issue tracking up to date.
- Ensured compliance with all relevant regulatory and statutory requirements.
- Closely monitored the utilization of credit facilities and all excesses.
- Proactively drove review process of existing facilities, ensuring consistent thorough and timely evaluation of all existing facilities.
Team leader Pre - NPL Rehabilitation and Recoveries
Stanbic Bank
Lusaka , Zambia
01.2016 - 12.2017
- Ensured that the team handled all customer accounts in a timely manner per portfolio.
- Conducted Calibration for staff in alignment to collection strategies.
- Monitored daily workflow to ensure adherence to established policies and procedures.
- Collaborated with other departments to ensure alignment of goals across teams.
- Held reviews and discussions on the performance of the various portfolios, customers, and schemes to find solutions on how to manage them.
- Monthly presentation/updates on accounts placed on Watch list during the watch list meetings.
- Resolved customer complaints in an effective manner while maintaining a high level of customer service.
- Conducted regular performance evaluations, providing constructive feedback and personalized coaching.
Rehabilitation & Recoveries
Stanbic Bank
Lusaka, Zambia
04.2015 - 12.2016
- Highlighted and analyzed credit failures to identify ways of improving the credit approval process.
- Interpreted statistical reports i.e. Loan arrears report, excess management report, portfolio performance.
- Ensured that all accounts on the collection’s portfolio are dealt in a timely manner.
- Maintained a high level of customer service despite the stressed nature of the customers.
- Demonstrated strong problem-solving skills, resolving issues efficiently and effectively.
- Negotiated payment plans with customers to ensure timely repayment of debt and educated them on the importance of credit health and the consequences of non-payment.
- Developed and maintained strong relationships with clients to facilitate payment collections.
- Collaborated with customer service teams to address and resolve debtor inquiries.
- Oversaw daily collections and accounts receivable activities, developing robust strategies to maximize collections and reduce aged accounts.
Education
Bachelor’s Degree of Commerce - Accounts and Finance
DMI St Eugene University
Lusaka11-2012
Grade 12 Certificate -
Kasisi Girls Secondary School
Lusaka12-2007
Skills
- Compliant resolution
- Credit and Risk Management
- Business analysis
- Financial reporting
- Stakeholder management
- Change management
- Credit analysis
- Data analysis
- Negotiation skills
- Teamwork and collaboration
- Client relationship management
- Adaptability and flexibility
- Payroll management
- Debt recovery management
- Financial analysis
- Portfolio management
- Customer service management
- Team leadership experience
References
- Mutu Mubita, Standard Chartered Bank, Stand No. 4642, Cnr Mwaimwena Road, and Addis Ababa Drive, Lusaka, CONFIDENTIAL, 32238, +260 211 422 301, +260 966 844 007, Mutu.Mubita@sc.com
- Isililo Mzyece, Plot 3/244, Ibex Hill, Lusaka, CONFIDENTIAL, 37583, +260 977 754 299, isililo.mzyece@pesafinance.com
- Namwali Chanda, Stanbic Bank Zambia Limited, Plot No 2375, Addis Ababa Drive, Lusaka, CONFIDENTIAL, 31955, +260 977 858 595, namwali.chanda@gmail.com
Languages
English
Proficient
C2
Certifications
- Moody’s Business Banking Credit Skills Assessment Certification
- Credit Risk Management
- Wealth Management Program Lending
Timeline
Corporate Credit Analyst
Standard Chartered Bank
09.2024 - 04.2025
Head of Collections
Standard Chartered Bank
03.2021 - Current
Rehabilitation and Recoveries Manager
Cavmont Bank
11.2018 - 01.2021
Credit Risk Management - Business Banking
Stanbic Bank
05.2018 - 11.2018
Team leader Pre - NPL Rehabilitation and Recoveries
Stanbic Bank
01.2016 - 12.2017
Rehabilitation & Recoveries
Stanbic Bank
04.2015 - 12.2016
Bachelor’s Degree of Commerce - Accounts and Finance
DMI St Eugene University
Grade 12 Certificate -
Kasisi Girls Secondary School