Loan Recovery Officer
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Job summary
The Loan Recovery Officer is responsible for recovering outstanding loans from customers while maintaining professional and respectful relationships. The role involves monitoring overdue accounts, contacting customers, negotiating repayment arrangements, and ensuring that loan recoveries are made in line with company policies and procedures.
Min Qualification:
HND
Experience Level:
Entry level
Experience Length:
2 years
Language Requirement:
English
Working Hours:
Full Time - 8 to 5
Applicant Location:
Lagos, Nigeria
Job descriptions & requirements
Responsibilities:
- Monitor loan accounts and identify overdue and delinquent loans.
- Contact customers through phone calls, messages, emails, and other approved channels regarding outstanding payments.
- Follow up consistently with customers to secure repayment of overdue loans.
- Negotiate suitable repayment plans with customers where necessary.
- Maintain accurate records of all recovery activities and customer interactions.
- Escalate difficult or high-risk accounts to the appropriate supervisor or management.
- Conduct field visits to customers where required and in accordance with company procedures.
- Work closely with the Credit and Customer Service teams to resolve repayment issues.
- Ensure all recovery activities comply with company policies and applicable regulations.
- Prepare regular reports on loan recovery performance and outstanding accounts.
- Meet assigned recovery targets and contribute to reducing the company's non-performing loan portfolio.
- Maintain confidentiality of customer and company information.
- Perform other duties as assigned by management.
Requirements:
- A minimum of 2 years of experience
- A minimum of an HND in a related field
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