Debt Recovery Officer at Westfield Consulting

Job Summary

• The Debt Recovery Officer is responsible for managing and recovering overdue loans while maintaining a professional relationship with clients.
• The role involves monitoring loan performance, engaging clients with overdue obligations, negotiating repayment plans, and ensuring recovery efforts are carried out in line with company policies.

Responsibilities

• Monitor the loan portfolio daily to identify non-performing and overdue accounts.
• Liaise with collections officers to review account statuses and recovery strategies.
• Contact defaulting clients via calls, messages, and other approved communication channels to follow up on repayments.
• Send formal demand notices and reminders to clients with overdue obligations.
• Engage clients in constructive discussions to understand reasons for default and explore repayment solutions.
• Negotiate repayment plans and ensure agreed terms are documented and followed.
• Conduct field visits to clients where necessary, in line with company policy.
• Maintain accurate records of all recovery activities and client interactions.
• Escalate difficult or high-risk accounts to management for further action.
• Liaise with relevant stakeholders to track down clients who may have changed location using lawful and professional means.
• Ensure all recovery activities are conducted ethically, professionally, and in compliance with regulatory and organizational standards

Requirements

• Bachelor’s Degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in loan recovery, debt collection, or credit management (minimum 1– 3 years preferred).
• Strong negotiation and communication skills.
• Good understanding of debt recovery procedures.
• Ability to remain calm and professional when dealing with difficult clients.
• Knowledge of relevant financial regulations and ethical collection practices.
• Strong analytical and problem-solving skills.
• Ability to maintain accurate records and prepare reports.
• High level of integrity and professionalism.
• Willingness to undertake field visits when required.