Loan Recovery Officer at Strivo Labs

About the Role

Strivo Labs is seeking a proactive, assertive, and detail-oriented Loan Recovery Officer to manage defaulted accounts, drive repayment efficiency, and minimise credit losses. The ideal candidate will excel in communication, negotiation, documentation, and compliance, ensuring recovery processes are handled professionally and effectively.

Key Responsibilities

Loan Recovery & Collection

• Negotiate repayment plans, settlements, and restructuring options in line with company policies
• Follow up with borrowers on overdue payments via calls, emails, SMS, and field visits (where necessary)
• Recover delinquent accounts while maintaining professionalism and customer relationship standards
• Escalate chronic delinquent accounts to the Recovery Manager for further actions

Portfolio Monitoring & Reporting

• Monitor loan accounts daily to identify delinquencies and repayment patterns
• Maintain accurate records of interactions, commitments, and recovery outcomes
• Prepare weekly and monthly reports on recovery performance, trends, and risks
• Track aging buckets and ensure timely follow-up of accounts by priority

Compliance & Risk Management

• Ensure recovery actions comply with regulatory guidelines, internal policies, and financial ethics
• Identify high-risk accounts and recommend appropriate recovery strategies
• Flag fraudulent cases and collaborate with relevant units for investigation
• Support legal teams with documentation and case preparation when legal action is required

Customer Engagement & Relationship Handling

• Educate customers on repayment obligations, loan terms, and consequences of default
• Handle disputes and concerns professionally while maintaining firm control of the conversation
• Work with customer support and credit teams to resolve account discrepancies

Process Improvement & Collaboration

• Provide feedback to Credit, Risk, and Operations teams to enhance recovery processes