Collection Officer at DAG Industries Nigeria Limited

Job Summary

• The Collection Officer is responsible for recovering outstanding payments from customers, reducing overdue accounts, and maintaining healthy cash flow.
• The role involves contacting debtors, negotiating repayment arrangements, monitoring accounts, and ensuring compliance with company policies and legal guidelines.

Key Responsibilities
Debt Collection & Recovery:

• Follow up on overdue accounts through phone calls, emails, SMS, and visits
• Recover outstanding payments within agreed timelines
• Negotiate repayment plans with delinquent customers
• Persuade customers to settle debts while maintaining professional relationships
• Escalate difficult cases to management when necessary

Account Monitoring:

• Review aging reports to identify overdue accounts
• Monitor customer payment behavior and trends
• Maintain accurate records of all collection activities
• Ensure adherence to approved credit terms

Customer Communication:

• Respond to customer inquiries regarding outstanding balances
• Investigate and resolve billing discrepancies
• Maintain a professional and respectful approach during interactions
• Provide reminders prior to due dates where required

Field Collections (if applicable):

• Visit customers or business locations for debt recovery
• Deliver demand notices and collection letters
• Conduct verification of debtor information when necessary

Reporting & Documentation:

• Prepare daily, weekly, and monthly collection reports
• Update collection status in systems or databases
• Maintain proper documentation for all recovered and outstanding accounts
• Provide feedback to management on problematic accounts

Compliance & Risk Control:

• Ensure collection practices comply with company policies and applicable laws
• Maintain confidentiality of customer information
• Identify potential bad debts and recommend further action

Key Performance Indicators (KPIs):

• Amount of debt recovered
• Reduction in overdue accounts
• Collection efficiency ratio
• Recovery turnaround time
• Accuracy of collection records

Qualifications & Requirements
Education:

• Bachelor’s degree or HND in Finance, Accounting, Business Administration, Economics, or related field

Experience:

• 2–8 years experience in collections, credit control, customer service, or related role
• Field collection experience is an advantage

Skills & Competencies:

• Strong negotiation and persuasion skills
• Excellent communication and interpersonal abilities
• Ability to handle difficult conversations professionally
• Good problem-solving skills
• High level of integrity and confidentiality
• Attention to detail and organizational skills
• Basic knowledge of Microsoft Office (especially Excel)

Preferred Attributes:

• Ability to work under pressure and meet recovery targets
• Knowledge of debt recovery procedures and practices
• Experience with ERP or collection management systems
• Familiarity with legal processes related to debt recovery (added advantage).