Recovery Officer at County Finance Limited

County Finance Limited is a finance company that provides a lending opportunity to help businesses and individuals access quick finances for their needs and investors to get better returns. We ensure the provision of modern, speedy, and hassle-free service to borrowers and investors alike.

Title: Recovery Officer

Location: Ikeja, Lagos

Employment Type: Full-time

Job Description

• Undertake regular and frequent calls, site visits, and follow-ups to implement remedial strategies and action plans agreed for debt recovery.
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring.
• Follow up on major debtors’ accounts assigned to ensure recoveries through calls, demand notices or any other appropriate means.
• Prompt identification of unauthorized balances and follow-up on early warning and remedial action
• Daily call memo and progress reports on negotiations with debtors in respect of repayment of indebtedness.
• Negotiations/meetings with customers who want loan work out options such as refinancing, rescheduling and restructuring
• Follow up on the sale of securities deposited for collateral alongside the legal department after other remedial strategies have been exhausted.
• Liaise with external solicitors to ensure that cases referred to them for legal action are handled with efficiency.
• Develop, implement, and manage effective recovery strategies for delinquent loans, ensuring timely follow-up and resolution.
• Conduct detailed analysis and reporting on recovery activities and performance, and collaborate with the credit team to identify and mitigate risk factors.
• Negotiate payment arrangements and settlements with clients in arrears, maintaining positive client relationships throughout the process.
• Ensure compliance with legal and regulatory requirements in all recovery activities, and maintain accurate records of recovery actions and client interactions.
• Provide training and support to junior recovery officers and other team members while continuously reviewing and improving recovery policies and procedures.
• Identify and analyze the portfolio to determine the root causes of default and propose the best method of recovery of the loan.
• Ensure that very difficult cases at least 5 per week are brought to the attention of the management committee for a concerted effort toward debt recovery.

Qualifications

• A minimum of First Degree in Finance, Business Administration, Economics, or related field from a reputable University.
• Minimum of 4 years of work experience in loan recovery, credit management, or a similar role in the financial service sector (Microfinance / Finance company).

Salary

• N120,000 – N150,000 monthly

Application Closing Date
23rd July, 2024.

How to Apply
Interested and qualified candidates should send their Cover Letter and Resume to: [email protected] using the job title as the subject of the mail.