• Application Deadline:
• Position: Recovery Officer


• Job Type Full Time


• Qualification OND


• Experience 1 - 3 years


• Location Lagos


• Job Field Customer Care 
  


• Salary Range ₦50,000 - ₦100,000/month
  

OVERVIEW

The Recovery Officer represents the Financial Institution and is charged with the responsibility to identify, evaluate, monitor non-performing loans and implement recovery action plan(s) to achieve timely and maximum recovery at a minimal cost and appropriate turn-around time through acceptable

common practices aligned with legal frameworks and standards.

JOB DESCRIPTION

• Identifying deviations from repayment plans.


• Calling and visiting defaulters to follow up on overdue repayments.


• Proposing realistic, carefully-constructed payment plans.


• Monitoring defaulters' repayments to stop recurrent non-compliance.


• Ensuring write backs of provisioned or written off accounts through collection of overdue amounts.


• Protect the Lender’s Risk Assets by closely monitoring all credit facilities.


• Plan course of action to recover overdue amounts.


• Daily collection of assigned accounts to ensure full and prompt repayments.


• Early detection of delinquent accounts with collection/recovery strategy.


• Report and update changes in residential and business addresses of defaulters and guarantors.


• Formulate and implement appropriate strategies and actions to maximize recovery and minimize credit loss.


• Evaluate loan documentation and collateral provided to identify recovery/remedial strategy for restructured accounts.


• Assist and finalise with the Recovery Manager on remediation and recoveries.


• Conduct spot checks on loan customers.


• Generate collection reminders.


• Initiate demand letters and reminders to defaulting customers.


• Actively participating in committees and group discussions, proactively seeking for improvement and willing to align personal goals with the Institution’s goal.


• Any other responsibility assigned by Management.

PROFILE

• HND or Bachelor’s Degree from any related field


• Previous experience as a remedial or recovery officer


• Sound understanding of remedial and risk management


• Proficient in negotiating and persuasion with the ability to synthesize and present argument in a logical and rational manner


• Good understanding of loan classification


• Excellent verbal and written communication skills, including ability to effectively communicate with internal and external customers


• Strong strategy and impplementation skills


• Proficient in the use of MS Office suit


• Ability to multi task and handle pressure


• Detailed and target oriented