Recovery Officer at Strivo Labs

Job Summary

The Recovery Officer is responsible for tracking, engaging, and recovering overdue payments on financed devices from customers. The role ensures that delinquent accounts are effectively followed up on, using ethical and professional recovery strategies while maintaining customer relationships and minimizing losses. This position offers excellent opportunities for career growth.

Key Responsibilities

Loan Recovery & Follow-up

• Contact delinquent customers via calls, SMS, field visits, and emails to follow up on outstanding payments
• Negotiate repayment terms and ensure adherence to agreed timelines
• Implement effective recovery strategies for different customer risk profiles

Portfolio Management

• Monitor assigned loan portfolio to identify early signs of default
• Maintain accurate and up-to-date records of all recovery activities

Field Recovery

• Conduct field visits where necessary to recover financed devices or enforce repayment (limited to customers within Lagos)
• Liaise with local authorities or field agents in difficult or high-risk recovery areas
• Retrieve devices from chronic defaulters where recovery is impossible

Reporting

• Generate daily, weekly, and monthly reports on recovery status and collection performance
• Provide insights on trends, customer behavior, and recommendations for process improvements

Customer Engagement

• Provide repayment education to customers and advise on consequences of further default
• Assist customers in restructuring their payment plans when applicable