Junior Recovery Officer at Good Neighbours Microfinance Bank

About the Role

Good Neighbours Microfinance Bank seeks a dedicated Junior Recovery Officer to join our team in Lagos, Nigeria. In this role, you will be responsible for identifying and recovering outstanding debts while maintaining compliance with all legal and regulatory requirements.

Key Responsibilities

• Identify and contact customers with overdue payments via phone, email, and in-person visits to negotiate repayment plans and recover outstanding debts
• Conduct asset seizures independently
• Work with customers to develop feasible repayment plans that align with their financial situations while ensuring compliance with bank policies
• Develop, implement, and manage effective recovery strategies for delinquent loans
• Analyze the portfolio to determine root causes of default and propose the best methods for loan recovery
• Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring
• React proactively to unhealthy and risky portfolios to prevent losses
• Prepare regular reports on the status of overdue accounts, recovery progress, and any challenges faced to your Line Manager
• Ensure compliance with legal and regulatory requirements in all recovery activities
• Perform other responsibilities as assigned by the Line Manager

Required Qualifications

• HND or BSc in Finance or a related field
• Minimum of 2 years of experience in debt recovery or credit collections, preferably within the microfinance sector

Required Skills and Competencies

• Strong negotiation, communication, and time management skills
• High level of integrity and ethical standards
• Excellent knowledge of MS Office (especially Excel and Word)
• Familiarity with microfinance principles, practices, and regulatory requirements