Credit / Recovery Officer at a Financial Services Company - Peridot Forte Solutions Consulting Limited

Peridot Forte Solutions Consulting Limited - Our client in the Financial Sector is recruiting to fill the position below:

Job Title: Credit / Recovery Officer

Location: Lagos

Job Brief

• Credit / Recovery Officer is responsible for analyzing new credit requests, the administration and implementation of the loan recovery process.
• Establish repayment schedules, monitoring repayment of loan, and adherence to installment schedules.

Responsibilities

• Review incoming requests to evaluate eligibility, credit worthiness and other risk-mitigating criteria.
• Critically analyze standard and advanced risk matrix to arrive at the final loan decision.
• Ensure all transactions have full and proper documentation.
• Monitor, mitigate report and minimize credit limit excesses, business risks, provisioning, and provide periodic Credit Portfolio Reports daily, weekly, monthly, quarterly, and annually
• Plan courses of action to recover outstanding payments from defaulting customers.
• Locate and contact debtors to demand payments.
• Negotiate payoff deadlines or payment plans.
• Update account status and database regularly.
• Prepare contingency plan to prevent and cope with credit risk to ensure a healthy portfolio.
• Manage loan default and daily monthly issues/exceptions/severity and report same to the appropriate authority.
• Conduct regularly scheduled field and surprise visits to defaulting and regular customers.
• Analyze delinquent accounts and prepare reports on highest risk accounts including recommendations for resolution.
• Work closely with other departmental members to identify current and potential credit risks and develop suitable mitigation/prevention strategies.
• Maintain statistics on recoveries.
• Work closely with Credit and Legal team to ensure synergy and all-time customer satisfaction while ensuring debts are being recovered and paid up.
• Operate in compliance with laws and regulations. Devise customized recovery strategy on a case-by-case basis, reducing the non-performing loans owed by customers.
• Minimizing customer response times by issuing reminder notices and customer statements and monitoring collection of loan in a timely manner.
• Establish repayment schedules, monitoring repayment of loan, and adherence by debtors to installment schedules.

Requirements

• BSc in Accounting, Banking & Finance, Economics, Statistics and other related field.
• 4 - 5 years' experience in recovery in a financial sector.
• Strong planning and organizational skills.
• Good time management.
• Strong communication skills (both written and oral) and excellent telephone etiquette.
• Proactive and ability to take initiative.
• Ability to work within a team as well as independently.

Application Closing Date
30th September, 2021.