Recovery Officer

4 weeks ago

Lagos Abia, Nigeria Advans Full time

Main Responsibilities
Recovery Management:

  • Assess the situation of late payment to facilitate speedy customer payment.
  • Ensure that 50% of clients in the Par 1-90 portfolio are contacted.
  • Ability to conduct proper portfolio handover.
  • Ensure that all correspondence/information is requested and received from responsible Client Officers and kept in the client's file.

Asset Seizure / Sales:

  • Ability to successfully conduct asset seizures independently.
  • Ensure proper documentation of the seized items and immediate storage of the same.
  • Maintain good communication with the Head of Recovery if challenges occur during seizures and work with him to fix prices of the items in line with the bank's policy.
  • Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover the total outstanding debt.

Arrears Portfolio Management:

  • Conduct portfolio segment analysis to identify risky segments and potential methods of debt recovery.
  • Follow up on pending payment agreements with default clients and reach negotiated agreements with them.
  • Identify challenges in own portfolio and discuss with the Head of Recovery to overcome the challenges and recover the debt.
  • Identify and analyze the portfolio to determine root causes of default and propose the best method of loan recovery.
  • 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:

  • React proactively to unhealthy and risky portfolios, thereby saving the institution from losses.
  • Conduct prompt follow-up with 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 files and late payments in arrears.
  • Perform reminders by telephone, mail, or in the field for late payments by customers.
  • Apply debt collection procedures to unpaid installments.
  • 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.
  • Ensure recovering unpaid installments is in accordance with the bank's policy.

Controls:

  • Checking past due notices, other client correspondence, and letters.
  • Monitoring customers' compliance with the timeline.

Experience Required:

  • Minimum of one 1 year experience as a collection recovery officer, preferably in a financial institution.

Education Level

  • HND / B.A. / B.Sc in any related discipline, and must have completed NYSC or possess an exclusion certificate.

Special Training

  • Debt Recovery Training will be an added advantage.

  • Recovery Officer

    4 weeks ago

    Lagos , Abia, Nigeria Advans Full time

    Main ResponsibilitiesRecovery Management:Assess the situation of late payment to facilitate speedy customer payment.Ensure that 50% of clients in the Par 1-90 portfolio are contacted.Ability to conduct proper portfolio handover.Ensure that all correspondence/information is requested and received from responsible Client Officers and kept in the client's...

  • Recovery Officer

    7 days ago

    Lagos, Nigeria County Finance Limited Full time

    Job DescriptionUndertake regular and frequent calls, site visits, and follow-ups to implement remedial strategies and action plans agreed for debt recovery.Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring.Follow up on major debtors' accounts assigned to ensure recoveries...

  • Recovery Officer

    6 days ago

    Lagos, Lagos, Nigeria County Finance Limited Full time

    Job DescriptionUndertake regular and frequent calls, site visits, and follow-ups to implement remedial strategies and action plans agreed for debt recovery.Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring.Follow up on major debtors' accounts assigned to ensure recoveries...

  • Recovery Officer

    2 weeks ago

    Lagos, Lagos, Nigeria Max Full time

    We are looking to hire a reliable and diligent Recovery Officer who will be responsible for ensuring that all funds given to champions by the company are collected using all legal means, remind and persuade champions of their outstanding and overdue loans to be paid up in full.NOTE: MUST BE ABLE TO RIDE A BIKE AND KNOWLEDGABLE ON RIDING TRICYCLEWhat You'll...

  • Recovery Officer

    1 month ago

    Lagos, Lagos, Nigeria Max Full time

    We are looking to hire a reliable and diligent Recovery Officer who will be responsible for ensuring that all funds given to champions by the company are collected using all legal means, remind and persuade champions of their outstanding and overdue loans to be paid up in full.NOTE: MUST BE ABLE TO RIDE A BIKE AND KNOWLEDGABLE ON RIDING TRICYCLEWhat You'll...

  • Senior Recovery Officer

    1 week ago

    Lagos, Nigeria Assets Microfinance Bank Full time

    Job DescriptionDevelop, implement, and manage effective recovery strategies for delinquent loans, ensuring timely follow-up and resolution.Conduct detailed analysis and reporting on recovery activities and performance, and collaborate with the credit team to identify and mitigate risk factors.Negotiate payment arrangements and settlements with clients in...

  • Senior Recovery Officer

    1 week ago

    Lagos, Lagos, Nigeria Assets Microfinance Bank Full time

    Job DescriptionDevelop, implement, and manage effective recovery strategies for delinquent loans, ensuring timely follow-up and resolution.Conduct detailed analysis and reporting on recovery activities and performance, and collaborate with the credit team to identify and mitigate risk factors.Negotiate payment arrangements and settlements with clients in...

  • Loan Recovery/Collection Officer

    1 month ago

    Lagos, Nigeria HRLeverage Africa Full time

    JOB TITLE: LOAN RECOVERY/COLLECTION OFFICER LOCATION: LAGOS, NIGERIA HRLeverage is a leading Pan-African Workforce Management Company. We are recruiting for the position of Loan Recovery/Collection Officers for a client. This role entails monitoring and following up on outstanding debts, negotiating payment plans, and maintaining accurate records of all...

  • Loan Recovery/Collection Officer

    2 weeks ago

    Lagos, Lagos, Nigeria HRLeverage Africa Full time

    JOB TITLE:LOAN RECOVERY/COLLECTION OFFICERLOCATION:LAGOS, NIGERIAHRLeverage is a leading Pan-African Workforce Management Company. We are recruiting for the position of Loan Recovery/Collection Officers for a client. This role entails monitoring and following up on outstanding debts, negotiating payment plans, and maintaining accurate records of all...

  • Field Recovery Officer

    2 months ago

    Lagos, Lagos, Nigeria Credit Direct Limited Full time

    Job SummaryWe are seeking a skilled and experienced Field Recovery Officer to join our team, responsible for conducting face-to-face visits to customers' homes or workplaces for overdue payment collection or negotiation.Job DetailsConduct face-to-face visits to customers' homes or workplaces for overdue payment collection or negotiation.Reach out to...

  • Loan Recovery Officer

    2 weeks ago

    Lagos, Lagos, Nigeria LEAM Consulting Limited Full time

    ABOUT THE COMPANYLEAM CONSULTING is the foremost consulting firm which stands out in areas of professional certification training, HR advisory services, Business Development/Startup and IT consulting services in Nigeria.JOB SUMMARYRequirements and Skills SSCE / OND Strong analytical skills & Persuasive skill Strong communication & customer service skill...

  • Loan Recovery Officer

    1 month ago

    Lagos, Lagos, Nigeria LEAM Consulting Limited Full time

    ABOUT THE COMPANYLEAM CONSULTING is the foremost consulting firm which stands out in areas of professional certification training, HR advisory services, Business Development/Startup and IT consulting services in Nigeria.JOB SUMMARYRequirements and Skills SSCE / OND Strong analytical skills & Persuasive skill Strong communication & customer service skill...

  • Security compliance officer.

    1 month ago

    Lagos, Nigeria ESSENZA INTERNATIONAL Full time

    Job Description Create and oversee the implementation of new security and compliance policies and procedures Carry out regularly scheduled security functions, such as network scans, vulnerability scans, and security-log reviews Conduct assessments and audits to measure the efficiency of our compliance and security systems Evaluate and document disaster...

  • Account Officer

    4 weeks ago

    Lagos, Lagos, Nigeria New Heights Pharmaceuticals Limited Full time

    ABOUT THE COMPANYNew Heights Pharmaceuticals Limited is a wholly indigenous healthcare company registered in 2004 under the Companies and Allied Matters Act but started business fully February, 2005. The company started as a wholesale business with just two (2) staff. We have over the years, evolved into a major player in the Healthcare Industry with...

  • Security compliance officer

    2 weeks ago

    Lagos, Lagos, Nigeria ESSENZA INTERNATIONAL Full time

    Job DescriptionCreate and oversee the implementation of new security and compliance policies and procedures Carry out regularly scheduled security functions, such as network scans, vulnerability scans, and security-log reviews Conduct assessments and audits to measure the efficiency of our compliance and security systemsEvaluate and document disaster...

  • Credit & Risk Officer

    1 month ago

    Lagos, Nigeria Mkobo Microfinance Bank Limited Mkobobank Full time

    QualificationsWHAT WE ARE LOOKING OUT FOR:Minimum of HND or Degree in Finance, Accounting, Economics, Business Administration etc. from a reputable University or Polytechnic.Minimum of 3-4 years working experience in Credit, Loan and Asset Recovery activities.Hands-on experience working in a Microfinance and/or FINTECH space Strong planning, organizational...

  • Credit & Risk Officer

    2 weeks ago

    Lagos, Lagos, Nigeria Mkobo Microfinance Bank Limited Mkobobank Full time

    QualificationsWHAT WE ARE LOOKING OUT FOR:Minimum of HND or Degree in Finance, Accounting, Economics, Business Administration etc. from a reputable University or Polytechnic.Minimum of 3-4 years working experience in Credit, Loan and Asset Recovery activities.Hands-on experience working in a Microfinance and/or FINTECH space Strong planning, organizational...

  • Credit & Risk Officer

    4 weeks ago

    Lagos, Lagos, Nigeria Mkobo Microfinance Bank Limited Mkobobank Full time

    QualificationsWHAT WE ARE LOOKING OUT FOR:Minimum of HND or Degree in Finance, Accounting, Economics, Business Administration etc. from a reputable University or Polytechnic.Minimum of 3-4 years working experience in Credit, Loan and Asset Recovery activities.Hands-on experience working in a Microfinance and/or FINTECH space Strong planning, organizational...

  • Student Service Officer

    1 week ago

    Lagos, Lagos, Nigeria Rome Business School Nigeria Full time

    Job DescriptionProcurements: Assist in procurements of administrative accessories.Student Satisfaction: Achieve a student loss rate below 5% per intake after intake closing.Feedback and Complaint Handling: Provide various departments with feedback from students, respond to student complaints, and provide required information about the school.Fund Recovery:...

  • Student Service Officer

    1 week ago

    Lagos, Nigeria Rome Business School Nigeria Full time

    Job DescriptionProcurements: Assist in procurements of administrative accessories.Student Satisfaction: Achieve a student loss rate below 5% per intake after intake closing.Feedback and Complaint Handling: Provide various departments with feedback from students, respond to student complaints, and provide required information about the school.Fund Recovery:...