Advans Nigeria is an international microfinance bank with a national license from the Central Bank of Nigeria. We offer great flexibility, independence, and financial security to help our clients stay committed to their short and long-term financial goals. The bank was incorporated in Nigeria in February 2013.
We are recruiting to fill the position below:
Job Title: Recovery Officer
Location: Lagos
Employment Type: Full-time
Main Responsibilities
Recovery Management:
Assess the situation of late payment to facilitate speedy customer payment.
Ensure that 50% of clients in the Par 1-90 portfolio are contacted.
Ability to conduct proper portfolio handover.
Ensure that all correspondence/information is requested and received from responsible Client Officers and kept in the client's file.
Asset Seizure / Sales:
Ability to successfully conduct asset seizures independently.
Ensure proper documentation of the seized items and immediate storage of the same.
Maintain good communication with the Head of Recovery if challenges occur during seizures and work with him to fix prices of the items in line with the bank's policy.
Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover the total outstanding debt.
Arrears Portfolio Management:
Conduct portfolio segment analysis to identify risky segments and potential methods of debt recovery.
Follow up on pending payment agreements with default clients and reach negotiated agreements with them.
Identify challenges in own portfolio and discuss with the Head of Recovery to overcome the challenges and recover the debt.
Identify and analyze the portfolio to determine root causes of default and propose the best method of loan recovery.
Ensure that very difficult cases (at least 5 per week) are brought to the attention of the weekly arrears committee meeting for a concerted effort towards debt recovery.
Reduction of Loan Restructuring, Loan Refinancing, and Loan Write-offs:
React proactively to unhealthy and risky portfolios, thereby saving the institution from losses.
Conduct prompt follow-up with all parties leading to a jointly negotiated settlement and reduction of losses.
Look for innovative ways to get loan repayment other than restructuring, refinancing, and write-offs.
Reduce write-off projections for own portfolio by 30% monthly.
Generic Responsibilities:
Quality Control and Production Arrears Management:
Ensure the recovery of written-off loans.
Monitor customer files and late payments in arrears.
Perform reminders by telephone, mail, or in the field for late payments by customers.
Apply debt collection procedures to unpaid installments.
Maintain close contact with customers when necessary and feasible.
Achieve given recovery targets.
Negotiate a new schedule in case of actual difficulty of the customer.
Ensure recovering unpaid installments is in accordance with the bank's policy.
Controls:
Checking past due notices, other client correspondence, and letters.
Monitoring customers’ compliance with the timeline.
Experience Required:
Minimum of one (1) year experience as a collection recovery officer, preferably in a financial institution.
Education Level
HND / B.A. / B.Sc in any related discipline, and must have completed NYSC or possess an exclusion certificate.
Special Training
Debt Recovery Training will be an added advantage.
Application Closing Date
15th June, 2024.
How to Apply
Interested and qualified candidates should send their Applications to: [email protected] using the Job Title as the subject of the mail.