RECOVERY OFFICER

Job Description

we are currently recruiting for the position of a RECOVERY OFFICER, who will responsible for the collection of debts prior to legal recovery proceedings commencing, negotiating payments/payment arrangements, handling debtor inquiries and provides administrative assistance to the team.

RESPONSIBILITIES:

• Undertake regular and frequent calls, site visits, follow-ups to implement remedial strategies and action plans agreed with Team Lead, Challenged Assets & Recovery.

• Initiate demand and reminding letters to all defaulting customers and review all credit files for proper documentation and monitoring.

• Obtain background information on all accounts assigned to the Challenged Assets & Recovery Team and especially customer information etc…

• Follow up on major debtors accounts assigned to ensure recoveries through calls, demand notices or any other appropriate means.

• Monitors Recovery Agents to ensure accounts assigned to them are fully recovered.

• Prompt identification of unauthorized balances and follow up with branches on early warning and remedial action on newly created PDOs in the branch.

• Recovery of fully provisioned or written-off credit exposure and rehabilitate other impaired credit.

• Recommend accounts for classifications and declassifications and accounts to be written-off with justification.

• 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

• Preparation of approval requests to management for negotiated settlements and follow up until the account is fully settled and the balance written off.

• Follow up on sale of securities deposited for collateral alongside the legal department after other remedial strategies have been exhausted

• Preparation and recommendation of strategies for recoveries on major assigned accounts to the Team Lead.

• Collection on accounts assigned at the beginning of the year to ensure full repayment.

• Give priority attention to regularize outstanding legal and documentation issues on the assigned portfolio.

• Liaise with external solicitors to ensure that cases referred to them for legal action are handled with efficiency