FINCA Microfinance Bank Ltd is recruiting for an experienced Recovery Officer (RO), who will focus on the management of the bank defaulting portfolios
The recovery officer shall be well-informed with the debt collection best practices and approaches; develop options and alternatives that guarantees an effective recovery process that will reduce the bank Portfolio at Risk (PAR) to the lowest minimum
This position reports directly to the Head of Credit or as may be assigned.
- Obtain delinquent reports for all assigned defaulting portfolios and manage the recovery process.
- Manage assigned loan written off with support of legal department and Loan Officer.
- Develop options and alternatives that guarantee an effective recovery process, by devising customized recovery strategy on a case by case basis.
- Respond and enforce the banks policy issues for client; such as fraud, breach of contract etc.
- Maintain appropriate and comprehensive records of all customers’ discussions.
- Manage all assets (vehicles, income generating assets, personal assets and inventories) presented for repossession in line with the bank’s processes and procedures.
- Maintain confidentiality while handling customers enquires and information.
- Deliver a high quality, efficient, responsive and professional service during the recovery process that portraits the bank ethical conduct.
- Comply with any CBN set guidelines for ethical debt collection practices as may be issued from time to time.
- Report [daily] progress against target to the designated authority
- Prepare and organize Credit Risk Committee Meetings with the Head of Credit.
- Degree/Higher National Diploma in related discipline
- 1-2 years post NYSC experience in a debt recovery role; preferable with financial services or microfinance.
- Basic mathematics and analytical skills required, as well as investigative and persuasive skills
- Knowledgeable of recovery best practice and approach
- Effective communication and reporting skills required.
- Qualifications Competencies:
- Analytical - Synthesizes complex or diverse information; Uses intuition and experience to complement data.
- Problem Solving - Identifies and resolves problems in a timely manner; Gathers and analyses information skilfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with emotional topics.
- Technical Skills - Strive to continuously build knowledge and skills; Shares expertise with others; be assertive and possess a good negotiation skill.
- Interpersonal Skills - Focuses on solving conflict, not blaming; Maintains confidentiality; Remains open to others’ ideas and tries new things.
- Investigative Skills - Ability to conduct an effective customer interview process; Ability to listen effectively and inquire rightly.
- Teamwork - Balances team and individual responsibilities; Contributes to building a positive team spirit; Puts success of team above own interest; Able to build morale and group commitments to goals and objectives; Supports everyone’s efforts to succeed.
- Motivation - Sets and achieves challenging goals; Demonstrates persistence and overcomes obstacles; Measures self against standard of excellence; Task calculated risks to accomplish goals.
- Planning/ Organizing - Prioritizes and plans work activities; Uses time efficiently; Plans for additional resources; Set goals and objectives; Organizes or schedules other people and their tasks; Develops realistic action plans.
- Quality - Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.
How to Apply?
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