Collections Officer at MIM Finance Company Limited

MIM Finance Company Limited (t/a Money in Minutes or MIM) is a UK-originated FinTech start-up in the process of launching its exciting products in Nigeria. MIM’s aim is to provide straightforward and instant finance to consumers in a bid to help solve the current access to finance problems in Africa. MIM’s products would also make it possible for low and middle-class earners to acquire white goods and solar energy-generating equipment in a bid to resolving the electricity challenge engulfing the continent.

Title: Collections Officer

Location: Lagos

Employment Type: Full-time

Job Summary

• As a collections officer, you will be responsible for contacting customers and clients who have overdue payments.
• Your primary goal will be to recover outstanding debts and minimize bad debts while maintaining a professional and customer-focused approach.

Key Responsibilities
Contacting Debtors:

• Initiate contact with debtors via phone, email, or in-person to negotiate payment plans and resolve outstanding balances.

Negotiating Payment Arrangements:

• Work with debtors to establish feasible repayment plans based on their financial situation and company policies.

Resolving Issues:

• Address any issues or disputes related to outstanding debts, working closely with other departments such as customer service or sales if necessary.

Maintaining Records:

• Keep accurate records of all communications and payment commitments made by debtors.

Monitoring Accounts:

• Monitor overdue accounts and follow up on delinquent accounts to ensure timely payment.

Compliance:

• Ensure all collection activities comply with legal requirements and industry regulations.

Reporting:

• Prepare regular reports on the status of accounts receivable and collections activities for management review.

Customer Service:

• Provide excellent customer service by addressing debtor inquiries and concerns promptly and professionally.

Resolve Disputes:

• Investigate and resolve disputes or discrepancies related to debt repayment.
• Work with borrowers and internal teams to find equitable solutions to payment issues

Achieve Collection Targets:

• Meet or exceed collection targets set by the organization.
• Utilize effective negotiation and persuasion skills to maximize debt recovery

Required Skills and Qualifications
Experience:

• Candidate must have at least 1-year plus in collections or a related field is preferred.
• A massive plus if you understand and can speak Hausa Fervently

Educational Background:

• Candidates must possess at least an Hnd/Bsc degree in any relevant field of study.

Communication Skills:

• Excellent verbal and written communication skills are essential for negotiating payment terms and explaining policies to debtors.

Negotiation Skills:

• Ability to negotiate effectively and tactfully to achieve win-win outcomes.

Problem-Solving Skills:

• Strong problem-solving abilities to address debtor issues and resolve conflicts.

Attention to Detail:

• Accuracy in recording debtor information and payment commitments.

Computer Skills:

• Proficiency in using collection software, spreadsheets, and databases to track accounts and generate reports.

Persistence:

• Ability to handle rejection and maintain persistence in pursuing overdue accounts.

Ethics and Integrity:

• High ethical standards and integrity when dealing with sensitive financial information

Application Closing Date
Not Specified.

Method of Application
Interested and qualified candidates should forward their CV to: [email protected] using the Job Title as the subject of the mail.