• Application Deadline: Wed, 27 Mar 2024 00:00:00 GMT
• Position: Recovery Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 3 - 5 years


• Location Lagos


• City Ikoyi


• Job Field Finance / Accounting / Audit 
  

Job Summary

The Recovery Officer is responsible for collecting bad debt including written-off loans and loans overdue, the administration and implementation of the loan recovery process. Establish repayment schedules, monitoring repayment of loan, and adherence to instalment schedules.

Responsibilities

• Maintain customer payment records.


• Plan courses of action to recover outstanding payments from defaulting customers.


• Locate and contact debtors to demand payments.


• Negotiate payoff deadlines or payment plans.


• Respond to customer queries.


• Build trust with delinquent customers.


• Update account status and database regularly.


• Manage loan default and daily monthly issues/exceptions/severity and report same to the appropriate authority.


• Conduct regularly scheduled field and surprise visits to defaulting and regular customers.


• Analyze delinquent accounts and prepare reports on highest risk accounts including recommendations for resolution.


• Maintain statistics on recoveries.


• Work closely with Credit and Legal team to ensure synergy and all-time customer satisfaction while ensuring debts are being recovered and paid up.


• Operate in compliance with laws and regulations. Devise customized recovery strategy on a case by case basis, reducing the non-performing loans owed by customers.


• Minimizing customer response times by issuing reminder notices and customer statements and monitoring collection of loan in a timely manner.


• Establish repayment schedules, monitoring repayment of loan, and adherence by debtors to instalment schedules.

Requirements

• First Degree in Accounting, Banking & Finance, Economics, Statistics and other related field.


• 3 - 5 years’ experience in recovery in a financial sector.


• Strong planning and organizational skills.


• Good time management.


• Strong communication skills (both written and oral) and excellent telephone etiquette.


• Proactive and ability to take initiative.


• Ability to work within a team as well as independently