Job Title : Loan Recovery Officer
Reporting Line : COO, Head of Operations
Start Date : Immediately
Location : Lagos
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.
- Performs other duties as maybe assigned.
- 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
- 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