Credit/Recovery Officer at Peridot Forte Solutions Consulting

Our client in the Financial Sector is looking for a Credit/Recovery Officer to Join her Team

Job Brief

Credit/Recovery Officer is responsible for analyzing new credit requests, the administration and implementation of the loan recovery process. Establish repayment schedules, monitoring repayment of loan, and adherence to installment schedules. 

Responsibilities

• Review incoming requests to evaluate eligibility, creditworthiness and other risk-mitigating criteria.
• Critically analyze standard and advanced risk matrix to arrive at the final loan decision.
• Ensure all transactions have full and proper documentation.
• Monitor, mitigate report and minimize credit limit excesses, business risks, provisioning, and provide periodic Credit Portfolio Reports daily, weekly, monthly, quarterly, and annually
• Plan courses of action to recover outstanding payments from defaulting customers.
• Locate and contact debtors to demand payments.
• Negotiate payoff deadlines or payment plans.
• Update account status and database regularly.
• Prepare contingency plan to prevent and cope with credit risk to ensure a healthy portfolio.
• Manage loan default and daily monthly issues/exceptions/severity and report same to the appropriate authority.
• Conduct regularly scheduled field and surprise visits to defaulting and regular customers.
• Analyze delinquent accounts and prepare reports on highest risk accounts including recommendations for resolution.
• Work closely with other departmental members to identify current and potential credit risks and develop suitable mitigation/prevention strategies.
• Maintain statistics on recoveries.
• Work closely with Credit and Legal team to ensure synergy and all-time customer satisfaction while ensuring debts are being recovered and paid up.
• Operate in compliance with laws and regulations. Devise customized recovery strategy on a case-by-case basis, reducing the non-performing loans owed by customers.
• Minimizing customer response times by issuing reminder notices and customer statements and monitoring collection of loan in a timely manner.
• Establish repayment schedules, monitoring repayment of loan, and adherence by debtors to installment schedules.

Requirements

• BSc in Accounting, Banking & Finance, Economics, Statistics and other related field.
• 4 - 5 years’ experience in recovery in a financial sector.
• Strong planning and organizational skills.
• Good time management.
• Strong communication skills (both written and oral) and excellent telephone etiquette.
• Proactive and ability to take initiative.
• Ability to work within a team as well as independently.