• Application Deadline:
• Position: Recovery Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 3 years


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Job Description

• Identify and contact customers with overdue payments via phone, email, and in-person visits to negotiate repayment plans and recover outstanding debts.


• Conduct asset seizures independently.


• Work closely with other departments, including Credit and Risk Management, to share information and develop effective strategies.


• Communicate with the sales team to ensure that the item to recover can cater for the total outstanding debt.


• Work with customers to develop feasible repayment plans that align with their financial situations while ensuring compliance with bank policies.


• Develop, implement, and manage effective recovery strategies for delinquent loans, ensuring timely follow-up and resolution.


• Prepare regular reports on the status of overdue accounts, recovery progress, and any challenges faced to management.


• Ensure compliance with legal and regulatory requirements in all recovery activities.


• React proactively to unhealthy and risky portfolios to prevent losses.


• Identify and analyze the portfolio to determine the root causes of default and propose the best method of recovery of the loan.


• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring.


• Liaise with the legal representative after other remedial strategies have been exhausted.


• Maintain comprehensive and up-to-date records of all recovery activities, seized items, communications, and agreements.


• Maintain close contact with customers when necessary and feasible.


• Any other responsibilities that may be assigned.

Requirements / Skills

• HND / B.Sc Degree in Finance, Business Administration or a related field.


• Minimum of 3 years of experience in debt recovery, credit collections preferably within the microfinance/finance sector.


• Strong negotiation, communication and time management skills.


• High level of integrity and ethical standards.


• Excellent knowledge of MS Office (especially Excel and Word)


• Familiarity with microfinance principles, practices and regulatory requirements.