Recovery Manager at Lidya

Lidya is the future of finance for small businesses in frontier markets. Our goal is to help great business owners access financing and build a credit score through an easy and inspiring lending process. Lidya is currently live in Nigeria and is using world-class technology to help small businesses invoice customers, access credit, and build credit scores to grow their businesses.

Lidya is founded by Tunde Kehinde, the former Managing Director of Jumia Nigeria, the largest eCommerce platform in West Africa and Ercin Eksin, the former Chief Operating Officer of Jumia Africa responsible for operations in 6 of the largest economies in Africa. Tunde and Ercin also co-founded Africa Courier Express, the largest direct-to-consumer delivery provider in Nigeria. Tunde and Ercin attended Harvard Business School and the University of Chicago-Booth, respectively for their MBAs.

We are recruiting to fill the position below:

Job Title: Recovery Manager

Location: Lagos

Job Description

• The Recovery Manager is responsible for the overall formulation, review, and implementation of loan recovery and repayment policies and procedures, as well as actively building client relationships for the Debt Recovery team to foster timely repayment of all loans and improve Portfolio at Risk (PAR).
• The position liaises directly with clients, external debt collection partners and local courts to recover outstanding payments.

Key Duties and Responsibilities

• Maintains a database of all matters related to late payments by clients including any matters in mediation, litigation, or pre-settlement negotiations.
• Negotiate and maintain contractual relationships with vendors related to business recovery and resumption.
• Reviewing documentation (all aspects of contract) to assess liability, identify contract issues and judge recoverability.
• Using knowledge and initiative to reach amicable solutions to settling debts on behalf of clients, considering circumstances of the case while ensure significant monthly progress on funds recovery.
• Establish repayment schedules, monitoring repayment of debts, and adherence by debtors to installment schedules.
• Researching debtor companies, assisting in researching laws and procedures to provide written advice to clients and prepare appropriate reports clearly identifying issues and options for dealing with them.
• Build and manage internal team of 3+ debt recovery professionals to achieve late payment goals and key performance indicators of the Company.

Desired Qualifications and Skillset

• Minimum of a Bachelor’s Degree in Business Management, Information Technology or preferably Law (will be an added advantage). (MBA, LLB, CFA is a plus).
• 7 years+ of experience working with a Commercial Bank, Law Firm or Management Consulting Firm, with a particular emphasis on experience in the financial sector and a network of debt collection partners a plus.
• Demonstrated history of recovery success. Ability to show you have been able to deliver above average loan recovery KPIs (PAR 0, PAR 30, PAR 90) in the credit industry, with experience at credit providers with a loan portfolio over NGN 1 billion at any point time, a plus.
• In depth knowledge of motions, discovery, evidence, litigation documentation, court rules and procedures, practices in the Federal Republic of Nigeria.
• Excellent Communication skills – You must be able to succinctly summarize an argument and be capable of presenting the impact of maintaining good credit scoring and complex legal concepts to clients.
• Detailed Organization skills – Missing a deadline can negatively impact a client’s credit profile, result in serious court penalties, and/or damage the reputation of Lidya so time management and organization skills are hugely important.
• An eye for detail – being able to identify small details in a late payment can mean the difference between losing and recovering a debt. You also need this skill to determine what is relevant and what is not to ensure the right actions are prioritized to achieve target KPIs.
• Determination and Negotiation skills – Loan recovery is difficult; you need to have the determination to recover late payments. You need to have strong persuasion skulls and the strength to maintain composure and calm when cases become chaotic and complicated.

Application Closing Date
17th September, 2022.