Job Summary
The Collection Officer is responsible for recovering outstanding payments from customers, reducing overdue accounts, and maintaining healthy cash flow.
The role involves contacting debtors, negotiating repayment arrangements, monitoring accounts, and ensuring compliance with company policies and legal guidelines.
Key Responsibilities
Debt Collection & Recovery:
Follow up on overdue accounts through phone calls, emails, SMS, and visits
Recover outstanding payments within agreed timelines
Negotiate repayment plans with delinquent customers
Persuade customers to settle debts while maintaining professional relationships
Escalate difficult cases to management when necessary
Account Monitoring:
Review aging reports to identify overdue accounts
Monitor customer payment behavior and trends
Maintain accurate records of all collection activities
Ensure adherence to approved credit terms
Customer Communication:
Respond to customer inquiries regarding outstanding balances
Investigate and resolve billing discrepancies
Maintain a professional and respectful approach during interactions
Provide reminders prior to due dates where required
Field Collections (if applicable):
Visit customers or business locations for debt recovery
Deliver demand notices and collection letters
Conduct verification of debtor information when necessary
Reporting & Documentation:
Prepare daily, weekly, and monthly collection reports
Update collection status in systems or databases
Maintain proper documentation for all recovered and outstanding accounts
Provide feedback to management on problematic accounts
Compliance & Risk Control:
Ensure collection practices comply with company policies and applicable laws
Maintain confidentiality of customer information
Identify potential bad debts and recommend further action
Key Performance Indicators (KPIs):
Amount of debt recovered
Reduction in overdue accounts
Collection efficiency ratio
Recovery turnaround time
Accuracy of collection records
Qualifications & Requirements
Education:
Bachelor's degree or HND in Finance, Accounting, Business Administration, Economics, or related field
Experience:
2 - 8 years experience in collections, credit control, customer service, or related role
Field collection experience is an advantage
Skills & Competencies:
Strong negotiation and persuasion skills
Excellent communication and interpersonal abilities
Ability to handle difficult conversations professionally
Good problem-solving skills
High level of integrity and confidentiality
Attention to detail and organizational skills
Basic knowledge of Microsoft Office (especially Excel)
Preferred Attributes:
Ability to work under pressure and meet recovery targets
Knowledge of debt recovery procedures and practices
Experience with ERP or collection management systems
Familiarity with legal processes related to debt recovery (added advantage).