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.
We are recruiting to fill the position below:
Job 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
- 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.
- 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.
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
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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
Application Deadline 23rd July, 2024.