• Application Deadline: Fri, 3 Mar 2023 00:00:00 GMT
• Position: Senior Recovery Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Main Responsibilities

Recovery Management:

• Assess the situation of late payment to facilitate speedy customer in the payment.


• Ensure that 50% of clients in Par 45 portfolio is contacted.


• Ability to conduct proper portfolio handover.


• Ensure that all correspondence/information are requested and received from responsible Client Officers and kept in the clients file.

Asset seizure / sales:

• Ability to successfully conduct assets seizure independently.


• Ensure proper documentation of the seized item and immediate storage of the same.


• Maintain good communication with the Head of Recovery if challenges occur during seizures and also work with him to fix prices of the items in line with the banks policy.


• Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover for the total outstanding debt.

Arrears Portfolio Management:

• Conduct Portfolio segment analysis to identify risky segments and potential methods of recovery of the debt.


• Ability to Follow up on pending payment agreements with default clients and reach negotiated agreements with them.


• Identify challenges in own portfolio and discuss same with the Head of Recovery with the objective of overcoming the challenges to recover the debt.


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


• Ensure that very difficult cases at least 5 per week are brought to the attention of the weekly arrears committee meeting for a concerted effort towards debt recovery.

Reduction of Loan restructuring, Loan refinancing and Loan write-offs:

• Ability to react proactively to unhealthy and risky portfolio thereby saving the institution of losses.


• Conduct prompt follow up on all parties leading to a jointly negotiated settlement and reduction of losses.


• Look for innovative ways to get loan repayment other than restructuring, refinancing and write-offs.


• Reduce write-off projections for own portfolio by 30% monthly.

Generic Responsibilities:

Quality control and production arrears management:

• Ensure the recovery of written off loans.


• Monitor customer file and late payment in arrears.


• Perform reminders by telephone, mail or in the field of late payment by customers.


• Apply debt collection procedures to unpaid instalments.


• Maintain close contact with customers when necessary and feasible.


• Achieve given recovery targets.


• Negotiate a new schedule in case of actual difficulty of the customer found.


• Ensure recovering unpaid instalments is in accordance to the banks’ policy.

Controls:

• Checking past due notices/other client correspondence/letters.


• Monitoring customers’ compliance to timeline.