Job Summary
The Debt Recovery Officer is responsible for managing and recovering overdue loans while maintaining a professional relationship with clients.
The role involves monitoring loan performance, engaging clients with overdue obligations, negotiating repayment plans, and ensuring recovery efforts are carried out in line with company policies.
Job Description
Monitor the loan portfolio daily to identify non-performing and overdue accounts.
Liaise with collections officers to review account statuses and recovery strategies.
Contact defaulting clients via calls, messages, and other approved communication channels to follow up on repayments.
Send formal demand notices and reminders to clients with overdue obligations.
Engage clients in constructive discussions to understand reasons for default and explore repayment solutions.
Negotiate repayment plans and ensure agreed terms are documented and followed.
Conduct field visits to clients where necessary, in line with company policy.
Maintain accurate records of all recovery activities and client interactions.
Escalate difficult or high-risk accounts to management for further action.
Liaise with relevant stakeholders to track down clients who may have changed location using lawful and professional means.
Ensure all recovery activities are conducted ethically, professionally, and in compliance with regulatory and organizational standards
Job Requirements
Bachelor's degree in finance, Accounting, Business Administration, or a related field.
Proven experience in loan recovery, debt collection, or credit management (minimum 1 - 3 years preferred).
Strong negotiation and communication skills.
Good understanding of debt recovery procedures.
Ability to remain calm and professional when dealing with difficult clients.
Knowledge of relevant financial regulations and ethical collection practices.
Strong analytical and problem-solving skills.
Ability to maintain accurate records and prepare reports.
High level of integrity and professionalism.
Willingness to undertake field visits when required.