Debt Recovery Officer

Job Summary
Recovery of bad debt including written-off loans and loans overdue in compliance with the acceptable common practices aligned with the legal framework
Minimum Qualification:
HND
Experience Level:
Mid level
Experience Length:
2 years
Job Description
Achieve the required threshold on past due obligations on assigned portfolio
Initiate demand and reminding letters to all defaulting customers and review all credit files for
proper documentation and monitoring.
Preparation and recommendation of strategies for recoveries on major assigned accounts to the
management.
Negotiations/meetings with defaulting clients who want loan work out options such as refinancing,
rescheduling and restructuring
Investigate and thoroughly understand borrowers’ challenges and proffer solutions for resolving such
delinquent loans.
Take ownership of assigned delinquent portfolio
Follow up on defaulting clients on previous payment arrangement
Maintain comprehensive and up-to-date records of defaulting clients with actions taken and the next course
of actions.
Share recovery experiences and lessons learnt with the management to identify root cause of loan
delinquency, operational weaknesses and recommend changes to improve the
quality of the portfolio.
Daily call memo and progress reports on negotiations with debtors in respect of repayment of indebtedness.
Liaise with external solicitors to ensure that cases referred to them for legal action are handled
with efficiency.
Performing other task as assigned by Management