Loan Recovery Officer

Job Title : Loan Recovery Officer

Reporting Line :  COO, Head of Operations

Start Date : Immediately

Location : Lagos

Overview

As an ideal candidate, you should be passionate about achieving set goals. The overall objective of this role is to identify, evaluate and monitor the non-performing loan accounts and implement a recovery action plan to achieve timely and maximum recovery at a minimal cost and appropriate turn-around time through acceptable common practices aligned with legal framework and standards.

Essential Primary Responsibilities (not all inclusive)

• Monitor allocated portfolio of delinquent loans facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within pre-determined broad policy guidelines and regulation to minimize credit losses.
• Maintain a loans ageing analysis, schedule, and follow up with the investees on recoverability of outstanding loan balance
• Prepare approval requests to management for negotiated settlements and follow up until account is fully settled and the balance paid off
• Ensure compliance to AAA Finance’s Credit Policy and Procedures regarding management of debt recovery process
• Maintain and prepare monthly collections reports, updates and status
• Respond to investee complaints and queries and escalate unresolved cases for supervisors’ review and advice
• Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
• Undertake regular and frequent calls, site visits, and follow-ups with the investees to implement remedial strategies and action plans for loan recovery
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
• Ensure effective compliance standards are consistently met with both internal and external regulatory requirements by working closely with legal department
• Develop and continuously review credit policies and procedures ensuring their compliance.

Secondary Responsibilities

• Performs other duties as maybe assigned.

Required Qualifications

• University degree from any finance related field would be preferred.
• Should have sound knowledge in Credit risk management
• In-depth understanding of Legal principles related to lending
• Must have ability to translate and apply Credit knowledge to improve positive results in negotiations with clients;
• Minimum of 5 years’ experience in a similar role would be an added advantage

Key Competencies

• Ability to meet and exceed monthly and quarterly quotas and deliverables.
• Increase AAA Finances’ loan recovery portfolio.
• Must possess strong analytical and problem solving skills.
• Must possess the ability to make fair and ethical decisions under pressure.
• Self-motivated and strong interpersonal skills.
• Must possess great persuasion and conflict resolution skills.
• Excellent communication skills
• Ability to communicate with local authorities and legal professionals in an appropriate manner.
• Demonstrate high level of ethical commitment and trustworthiness.

Nice to Have

• Solid oral and written skills.
• Sound analytical and presentation skill.
• Results and target driven attitude