Loan Collection Officers (Fintech) at Careers Verified

At Careers Verified, we go beyond narrowly defined client’s issues, we create opportunities for our clients, candidates, colleagues, collaborators, and the community. Through a network of diversified but highly complementary line of business, we help organizations find critical talent, access cutting-edge advice and get the innovative support they require to grow in a challenging market. We partner with businesses and organizations of varying size and structure across diverse sectors, such as Oil and Gas, Engineering, Finance, Telecom, FMCG, Legal, Technology, Healthcare, Travel and Aviation etc. to enhance business performance and to optimize for growth to achieve exceptional results. What sets us apart is the depth of our capabilities, creative problem solving approach and proven track record in our practice area combined with in-depth knowledge of the realities of the industries we serve.

We are recruiting to fill the position below:

Job Title: Loan Collection Officer (Fintech)

Location: Ikeja, Lagos
Employment Type: Full-time

Description 

• The Loan Collection Officer will be responsible for collecting overdue payments from clients, negotiating payment plans, and ensuring that borrowers adhere to loan agreements. They work closely with borrowers to resolve payment issues and ensure that all outstanding debts are recovered in a timely and professional manner.

Key Responsibilities
Debt Collection:

• Contact borrowers through phone calls, emails, and letters to remind them of overdue payments.
• Track and follow up on delinquent accounts, ensuring that payments are made within specified deadlines.
• Negotiate payment terms or restructure loans to make them more manageable for clients facing financial difficulties.

Customer Communication:

• Establish and maintain professional relationships with borrowers.
• Explain the loan repayment process, the consequences of defaulting, and available options for avoiding penalties.
• Handle customer inquiries and complaints regarding outstanding loans or repayment terms.

Loan Monitoring & Management:

• Review loan accounts regularly to monitor compliance with repayment schedules.
• Identify accounts that are at risk of default and implement action plans to prevent defaults.
• Recommend legal action for severely delinquent accounts.

Reporting & Documentation:

• Maintain accurate and up-to-date records of all communications with borrowers.
• Prepare reports for management detailing the status of outstanding loans and collection activities.
• Document repayment agreements, payment schedules, and any settlements made with borrowers.

Compliance & Regulations:

• Ensure compliance with financial regulations, company policies, and legal requirements related to loan collection.
• Stay informed about new regulations or changes to existing laws that impact loan recovery processes.

Collaboration:

• Work closely with other departments such as legal, customer service, and credit management to resolve complex cases.
• Collaborate with the sales team to address potential risks and recommend actions for at-risk accounts.

Qualifications

• Bachelor’s Degree in Finance, Business Administration, or a related field.
• Prior experience in loan collections, debt recovery, or customer service.
• Knowledge of loan processes, credit risk, and debt management.
• Strong negotiation and communication skills.
• Ability to handle difficult situations professionally and with empathy.
• Familiarity with legal and regulatory frameworks governing loan collection.

Skills:

• Excellent interpersonal and negotiation skills.
• Proficiency in using loan management software and Microsoft Office.
• Problem-solving skills and attention to detail.
• Ability to manage multiple cases simultaneously and work under pressure.

Salary
N50,000 - N55,000 monthly.

Application Closing Date
30th December, 2024.