Head, Recovery Department at Sovereign Finance Limited

Job Description

• Debt Recovery Manager in Victoria Island, Lagos, is responsible for overseeing and leading the debt recovery process, ensuring compliance with legal and company policies, and maximizing the recovery of outstanding debts through various strategies. 

Key Responsibilities

• Oversee and manage all aspects of the debt recovery process, including contacting debtors, negotiating repayment plans, and pursuing legal action when necessary.
• Develop and implement debt recovery strategies and policies, ensuring they align with company objectives and legal requirements.
• Lead, motivate, and supervise a team of debt recovery officers, providing guidance, training, and performance feedback.
• Continuously review and improve debt recovery processes, identifying areas for optimization and efficiency gains.
• Ensure all debt recovery activities are conducted in compliance with relevant laws and regulations, including the Fair Debt Collection Practices Act (FDCPA).
• Track key performance indicators (KPIs) related to debt recovery, analyze trends, and generate reports to management.
• Build and maintain strong relationships with internal stakeholders, such as credit managers and legal counsel, as well as external stakeholders, such as debt collectors and collection agencies.
• Effectively negotiate with debtors to reach mutually agreeable repayment plans, and communicate clearly and professionally with all parties involved.
• Execute all asset recovery logistics, including identifying, valuing, and recovering assets to satisfy outstanding debts.
• Select and manage an effective process of outsourcing seriously past due accounts.

Requirements

• Candidates should possess a Bachelor's Degree qualification with 7 - 10 years work experience.