• Application Deadline:
• Position: Experienced Recovery Officer


• Job Type Full Time


• Qualification Others


• Experience 2 - 3 years


• Location Lagos


• City Ikeja


• Job Field Banking  , Sales / Marketing / Retail / Business Development 
  


• Salary Range ₦200,000 - ₦300,000/month
  

Department: Credit and Collections

Reports To: Recovery Manager

Job Summary:

The Recovery Officer is responsible for managing and recovering overdue payments from clients. This role requires maintaining a professional and compassionate approach while ensuring the financial stability of the Microfinance Bank. The Recovery Officer will work closely with clients, other departments, and external agencies to negotiate payment plans and resolve outstanding debts.

Key Responsibilities:

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


• Client Interaction: Maintain regular communication with clients to ensure timely payments and address any issues or concerns related to their accounts.


• Account Management: Monitor and manage assigned accounts to track the status of overdue payments and maintain accurate records of all communications and agreements.


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


• Legal Compliance: Ensure all recovery activities comply with legal requirements and bank policies, including maintaining confidentiality of client information.


• Reporting: Prepare regular reports on the status of overdue accounts, recovery progress, and any challenges faced in the recovery process.


• Collaboration: Work closely with other departments, including Credit and Risk Management, to share information and develop strategies for improving recovery rates.


• Field Visits: Conduct field visits as necessary to meet with clients and assess their ability to repay loans.


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

Qualifications:

• Education: Bachelor’s degree in Finance, Business Administration, Accounting, or a related field.


• Experience: Minimum of 2-3 years of experience in debt recovery, credit collections, or a related field, preferably within the financial services or microfinance sector.


• Skills:
  
  
  
  • Strong negotiation and communication skills.
  
  
  • Ability to work independently and manage multiple accounts.
  
  
  • Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).
  
  
  • Strong organizational and time management skills.
  
  
  
  


• Knowledge:
  
  
  
  • Familiarity with microfinance principles and practices.
  
  
  • Understanding of relevant legal regulations and compliance requirements.
  
  
  
  


• Personal Attributes:
  
  
  
  • High level of integrity and ethical standards.
  
  
  • Ability to remain calm and professional under pressure.
  
  
  • Strong problem-solving skills and attention to detail.
  
  
  
  

Working Conditions:

• Environment: Office-based with occasional field visits.


• Hours: Full-time position, with occasional extra hours required to meet deadlines.