Recovery Officer (Abia) at Advans Lafayette Microfinance Bank

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: Aba, Abia
Employment Type: Full-time

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.
• Conduct proper portfolio handover.
• Ensure all correspondence/information requested from Client Officers is received and kept in the client's file.

Asset seizure/sales:

• Successfully conduct assets seizure independently.
• Properly document seized items and store them immediately.
• Maintain communication with the Head of Recovery during seizures and collaborate on pricing in line with the bank's policy.
• Coordinate seizures systematically with sales to ensure coverage of total outstanding debt.

Arrears Portfolio Management:

• Conduct Portfolio segment analysis to identify risky segments and potential recovery methods.
• Follow up on pending payment agreements and negotiate with default clients.
• Identify portfolio challenges and discuss with the Head of Recovery for resolution.
• Analyze root causes of default and propose recovery methods.
• Bring very difficult cases to the weekly arrears committee meeting for concerted debt recovery efforts.

Reduction of Loan restructuring, Loan refinancing, and Loan write-offs:

• Proactively react to unhealthy and risky portfolios to prevent losses.
• Follow up promptly on all parties for negotiated settlements and loss reduction.
• Seek innovative loan repayment methods other than restructuring, refinancing, and write-offs.
• Reduce write-off projections for own portfolio by 30% monthly.

Generic Responsibilities:

• Ensure recovery of written off loans.
• Monitor customer file and late payments.
• Perform reminders for late payments.
• Apply debt collection procedures.
• Maintain close contact with customers.
• Achieve recovery targets.
• Negotiate new schedules for customers in difficulty.
• Ensure recovery complies with bank policy.
• Check past-due notices and client correspondence.
• Monitor customers' compliance with timelines.

Requirements

• Minimum of two years experience as a recovery officer, preferably in a financial institution.
• HND/B.A./B.Sc in any related discipline, with a completed NYSC or exclusion certificate.
• Debt Recovery Training would 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.