Loan Recovery And Monitoring Officer at Jofad Consulting

Jofad Consulting - Our client in the fInancial industry is currently looking at recruiting for the position of a Loan Recovery and Monitoring Officer

The ideal Candidate will be responsible for the following:

• Monitors the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
• Provides daily/weekly collection/payment schedules to customers and the marketing team while ensuring prompt and timely repayments as per schedule
• Identify and escalate repayment irregularities for further management action
• Preparation of monthly portfolio report for Management decision
• Preparation of weekly portfolio reports for credit review meetings
• Compute weekly branch wide Portfolio at Risk (PAR) report including; product, individual and branch PAR analysis
• Evaluate product performance through collection and data analysis
• Provide weekly report on turnover on loan accounts
• Maintain an effective trigger reporting system of credit impairments and propose corrective actions.
• Provides support to the legal, recovery, marketing and compliance department on Non-performing loans
• Call, visit and send periodic reminders to loan customers on scheduled repayments.
• Conduct post disbursement spot checks on customers to confirm loan performance and utilization.
• Monitoring defaulters' repayments to stop recurrent non-compliance.
• Maintain PAR level in compliance with CBN regulations
• Follow up with account officers to reconcile payments received and real time transaction postings
• Presentation of repayment cheques
• Responsible for achieving monthly PAR target
• Negotiate payment plans with defaulters

Job requirement

• HND/BSc/ in any field
• Minimum of 2 years banking experience in a credit monitoring/analysis role
• Knowledge of banking operations, credit risk management, fraud management, Loan Recovery / Debt Management

Qualification/skills

• Strong leadership and people management skills
• Excellent interpersonal and communication skill
• Excellent negotiation and persuasive skills
• Administrative and managerial skills
• Excellent verbal and written communication skills
• Proficient in the use of MS Office suit
• Excellent negotiation and persuasive skills
• Ability to multi task and handle pressure