Recovery Officer at Elsadave

Job Summary

The Recovery Officer is responsible for monitoring, following up, and recovering outstanding loans from clients of the microfinance bank. The role ensures that loan repayments are made promptly, non-performing loans are minimized, and effective recovery strategies are implemented in line with the bank's credit policies.

Key Responsibilities

• Monitor loan accounts to identify overdue payments and default cases
• Contact clients through phone calls, visits, and written reminders to ensure repayment of overdue loans
• Negotiate repayment schedules with delinquent clients and ensure adherence to agreed terms
• Prepare daily, weekly, and monthly reports on loan recovery activities and portfolio at risk (PAR)
• Work with the Credit and Risk teams to recommend appropriate actions for non-performing loans
• Assist in initiating legal recovery processes where necessary
• Maintain accurate and up-to-date records of all recovery efforts and client interactions
• Educate clients on loan terms, repayment obligations, and consequences of default
• Provide feedback to management on trends in loan default and recommend preventive measures
• Support the achievement of the bank's overall loan recovery and portfolio quality targets

Performance Indicators (KPIs)

• Loan recovery rate (%)
• Reduction in portfolio at risk (PAR)
• Number of default cases resolved
• Compliance with credit and recovery policies
• Timeliness and accuracy of recovery reports

Requirements

Candidates should possess relevant qualifications with experience in loan recovery or related financial services.