Loan Recovery Officer at Strivo Labs

About the Role

• We are seeking a proactive, assertive, and detail-oriented Loan Recovery Officer to manage defaulted accounts, drive repayment efficiency, and minimise credit losses.
• The ideal candidate will excel in communication, negotiation, documentation, and compliance, ensuring recovery processes are handled professionally and effectively.

Key Responsibilities
Loan Recovery & Collection:

• Follow up with borrowers on overdue payments via calls, emails, SMS, and field visits (where necessary).
• Negotiate repayment plans, settlements, and restructuring options in line with company policies.
• Recover delinquent accounts while maintaining professionalism and customer relationship standards.
• Escalate chronic delinquent accounts to the Recovery Manager for further actions.

Portfolio Monitoring & Reporting:

• Monitor loan accounts daily to identify delinquencies and repayment patterns.
• Maintain accurate records of interactions, commitments, and recovery outcomes.
• Prepare weekly and monthly reports on recovery performance, trends, and risks.
• Track aging buckets and ensure timely follow-up of accounts by priority.

Compliance & Risk Management:

• Ensure recovery actions comply with regulatory guidelines, internal policies, and financial ethics.
• Identify high-risk accounts and recommend appropriate recovery strategies.
• Flag fraudulent cases and collaborate with relevant units for investigation.
• Support legal teams with documentation and case preparation when legal action is required.

Customer Engagement & Relationship Handling:

• Educate customers on repayment obligations, loan terms, and consequences of default.
• Handle disputes and concerns professionally while maintaining firm control of the conversation.
• Work with customer support and credit teams to resolve account discrepancies.

Process Improvement & Collaboration:

• Provide feedback to Credit, Risk, and Operations teams on recurring issues.
• Suggest process improvements to enhance recovery efficiency and reduce loan defaults.
• Collaborate with field agents, legal teams, and external recovery partners (where applicable).

Requirements: Experience & Background

• 5–10 years’ experience in Loan Recovery, Collections, Credit Control, or related roles.
• Experience in microfinance, lending, digital lending, or the financial services industry is a strong advantage.

Skills & Competencies:

• Strong negotiation and persuasion skills.
• Excellent communication, conflict resolution, and interpersonal skills.
• Ability to remain firm, calm, and professional during difficult conversations.
• Good understanding of loan processes, credit risk, and repayment cycles.
• Ability to work with CRM tools, spreadsheets, and recovery tracking systems.
• Strong organisation, reporting, and documentation skills.