About the Job
The Loan Monitoring, Collections & Recovery Officer shall be responsible for monitoring repayment milestones on risk assets, driving recovery activities on non-performing loans and ensuring the loan book health through prompt collections on loan accounts.
Responsibilities
Coordinate all loan recovery activities
Monitor and track the loan portfolio to ensure adherence to repayment milestones, covenants and conditions and drive prompt repayment on all transactions
Conduct post-disbursement review of credit facilities
Constant Monitoring of the overdue repayments schedule.
Liaison with loan customers on imminent and overdue loan rentals
Ensure customers are well-informed on available payment options.
Maintaining customer payment records.
Highlight defaulting customer details for escalation to the GH,ERM
Initiate payment demands to defaulting customers
Responding to customer enquiries.
Track customer records to ensure adequate liaison with Insurers for prompt payments on NPL claims.
Maintain accurate records and update account statuses regularly.
Report on collection progress, potential issues, and proposed solutions to senior management.
Liaise with legal, risk management, and other departments as needed.
Qualifications
A Bachelor's Degree in Business Administration, Banking and Finance, Accounting, Economics, or a related field is preferred.
Minimum of 3 years of progressive experience in loan monitoring, credit risk management, debt collection,in the finance industry.
Proven ability to analyze loan portfolios, identify early warning signals of delinquency, and develop recovery strategies.
Experience working in loan monitoring, credit risk management, debt collection, related roles.
Strong understanding of credit risk management principles and the ability to apply them in negotiations and recovery strategies.
Familiarity with relevant legal requirements and lending laws, including CBN regulations in Nigeria
Candidate must have good knowledge with a proven record of Credit/Risk Analysis Aggressive persuasion, resilience, and closing skills.
Proficiency in the use of MS Office,Excel, and databases for record-keeping and reporting.
Strong presentation, organizational, prioritization, time, and task management skills
Excellent communication, persuasion, and negotiation skills to interact with clients and secure loan repayments