Job Summary
The Loan Recovery Officer will be responsible for the recovery of delinquent loan accounts through structured field engagements and customer interactions.
The role ensures timely recovery of outstanding obligations in line with the Bank's credit, recovery, and regulatory policies, while maintaining professional and ethical standards.
Key Responsibilities
Conduct field visits to customers with delinquent loan accounts to facilitate recovery of outstanding amounts.
Engage customers professionally to assess repayment capacity and agree on feasible repayment plans.
Monitor and follow up on repayment commitments to ensure compliance with agreed terms.
Accurately document all recovery activities, customer engagements, and outcomes on approved systems.
Identify high-risk and non-performing accounts and escalate in accordance with the Bank's recovery procedures.
Ensure all recovery activities comply with internal policies, CBN regulations, and relevant laws.
Collaborate with internal teams to achieve assigned recovery targets.
Requirements
Bachelor's degree in Business Administration, Finance, Economics, or a related discipline.
Minimum of 1 - 2 years' experience in loan recovery, debt collection, or a similar role within a financial institution or MFB.
Sound knowledge of loan recovery processes and applicable regulatory guidelines.
Strong negotiation, communication, and interpersonal skills.
Ability to work independently, manage multiple accounts, and meet recovery targets.
Proficiency in basic computer applications and reporting tools.
Personal Attributes:
High level of professionalism, integrity, and confidentiality.
Results-driven with strong attention to detail.
Ability to work under pressure and within defined policies.
Good judgement and customer-focused approach.