Job Summary
A capable loan recovery officer is sought to execute operational duties aligned with the company’s strategic objectives.
A loan recovery officer is tasked with overseeing and collecting delinquent loans while fostering strong, professional relationships with clients throughout the process.
The position encompasses outreach to delinquent borrowers, facilitating repayment arrangements, overseeing loan account activities, and verifying adherence to organizational policies and applicable regulatory standards.
The officer is responsible for enhancing the organization’s loan portfolio quality and mitigating loan losses.
Purpose
To achieve prompt recovery of delinquent loans and reduce credit losses for the organization, this role focuses on deploying efficient debt recovery strategies, fostering strong customer relationships, and adhering to established company policies as well as applicable regulatory standards.
Oversee all critical operations to ensure seamless and efficient workflow across departments, implementing strategic initiatives to enhance productivity and performance. Develop and maintain robust processes that align with organizational objectives while fostering a culture of accountability and continuous improvement. Collaborate with senior leadership to define long-term goals, allocate resources effectively, and drive sustainable growth. Analyze key performance indicators regularly to assess progress, identify inefficiencies, and implement corrective actions as needed. Lead cross-functional teams, delegate responsibilities clearly, and provide mentorship to cultivate high-performing talent. Ensure compliance with industry regulations, company policies, and best practices to mitigate risks and uphold operational integrity.
Track loan repayment timelines and promptly flag accounts that fall behind schedule.
Initiate contact with borrowers via phone, email, written correspondence, and in-person visits to pursue the collection of delinquent accounts.
Construct repayment schedules and explore restructuring alternatives for customers experiencing payment difficulties, ensuring solutions align with both organizational policies and individual circumstances.
Ensure meticulous documentation of all recovery operations and client engagements.
Analyze the causes of loan defaults and propose tailored recovery strategies to mitigate risks and enhance portfolio performance.
Draft and transmit formal demand notices and recovery correspondence to borrowers with overdue accounts.
Collaborate closely with legal officers and external recovery agents to manage complex recovery cases effectively.
Monitor recovery performance metrics, arrears status, and collection trends, and prepare detailed reports on these areas.
Maintain adherence to established internal credit policies, regulatory standards, and ethical collection procedures.
Perform on-site inspections to verify the status of delinquent loans and facilitate their recovery.
Where recovery prospects are deemed limited, it is recommended that write-offs, repossession, or legal action be escalated to management for review and decision-making.
Ensure the strict confidentiality of all customer data and company records is upheld at all times.
A bachelor’s degree in a relevant field is necessary, along with proficiency in specific technical skills and tools. Candidates must possess strong analytical capabilities and excellent communication skills to collaborate effectively with cross-functional teams. Prior experience in similar roles or industries is highly desirable. Additionally, familiarity with industry-standard software and methodologies is essential for success in this position.
A Bachelor’s degree in Finance, Accounting, or a related field is required.
A minimum of a Second Class Upper Division degree from an accredited university is required.
With a track record spanning three to eight years, you possess extensive expertise in loan recovery, credit risk evaluation, and team leadership.
A demonstrated ability to negotiate effectively and influence outcomes through compelling arguments is essential.
Exceptional verbal and written communication skills, along with the capacity to build strong, collaborative relationships.
Essential competencies include strong analytical abilities and adept problem-solving capabilities.
Proficiency in credit management principles and recovery methodologies is required.
Maintains composure and professionalism when interacting with challenging customers, ensuring all inquiries and concerns are addressed effectively.
Proficient in crafting clear, concise reports and maintaining meticulous documentation.
Proven expertise in utilizing Microsoft Office applications and specialized loan management systems is required.
Demonstrates unwavering commitment to ethical standards and safeguards sensitive information with the utmost discretion.
Capable of thriving under pressure while consistently achieving recovery benchmarks and deadlines.
Working Conditions:
Office-based duties and on-site recovery operations are combined to form a comprehensive role.
Regular engagement with clients, legal professionals, and debt recovery specialists is essential to this role.
Frequent travel may be necessary to fulfill customer engagements and undertake recovery-related assignments.
We offer a comprehensive benefits package designed to support your professional growth and personal well-being. This includes access to health, dental, and vision insurance plans, along with a generous retirement savings program featuring company contributions. Employees enjoy paid time off, including vacation, holidays, and sick leave, as well as flexible work arrangements and professional development opportunities. Additionally, we provide wellness initiatives, employee assistance programs, and other perks tailored to enhance work-life balance and career satisfaction.
We are seeking a dedicated professional to oversee the administration and management of health insurance benefits for our employees. The ideal candidate will possess a minimum of three years of experience in health insurance coordination or a related field, along with a thorough understanding of insurance policies, claims processing, and regulatory compliance. Responsibilities include evaluating and selecting insurance providers, negotiating coverage terms, processing claims, and addressing employee inquiries regarding benefits. Proficiency in Microsoft Office Suite, particularly Excel, and strong communication skills are required to effectively liaise with both employees and insurance providers. This role plays a critical part in ensuring employees receive timely and accurate health coverage while maintaining compliance with all applicable laws and regulations.
The organization offers a comprehensive pension plan designed to provide financial security and stability for employees during retirement. Participation in the pension plan is available to eligible employees who meet the specified criteria, ensuring long-term benefits aligned with their years of service. The plan includes defined contributions or benefits, depending on the employee’s classification and tenure, with contributions made by both the employee and the employer to maximize retirement savings. Employees can access detailed information about their pension benefits, including vesting schedules, contribution rates, and retirement options, through the plan’s dedicated portal or HR representative. This pension plan underscores the organization’s commitment to supporting employees’ financial well-being beyond their active employment.
The position includes a comprehensive leave entitlement package, encompassing various types of paid and unpaid leave options tailored to support work-life balance and employee well-being. This may encompass annual, sick, maternity, paternity, and compassionate leave, among other categories, in accordance with company policies and applicable labor regulations. Employees are expected to adhere to established leave request procedures and provide appropriate documentation when necessary. The allowance is designed to promote a supportive and inclusive work environment while ensuring compliance with legal requirements.
The department is responsible for designing, implementing, and overseeing employee training programs to enhance skills, knowledge, and performance. It collaborates with leadership and various departments to identify learning needs and develop tailored solutions, ensuring alignment with organizational goals. The role involves creating engaging training materials, delivering sessions, and evaluating program effectiveness through feedback and performance metrics. Additionally, this function monitors industry trends and best practices to continuously improve training offerings, fostering a culture of continuous learning and professional growth. Candidates should possess strong communication and interpersonal skills, along with expertise in instructional design and adult learning principles.
Qualifications
BA/BSc/HND
Experience Required
3 - 8 years
