Recovery Officer at Good Neighbours Microfinance Bank

Job Title: Recovery Officer

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.

Application Instructions:

The application deadline is on 20th January, 2025. Qualified and interested candidates should send their updated Resume to: [email protected] using the Job Title as the subject of the email.

Note: Only qualified candidates will be contacted. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy.

Website:
Official Job Website: https://gnmfb.com/