Recoveries Manager at Oxygen X

The position

• The Recoveries Manager is a pivotal role within our consumer digital lending division, responsible for overseeing and managing field recovery operations and external debt collection agencies.
• The successful candidate will lead a team dedicated to mitigating losses through effective recovery strategies, ensuring compliance with regulatory requirements, and maintaining the highest standards of customer service.
• This role requires a proactive approach to managing field activities, strong leadership skills, and a deep understanding of the digital lending landscape.

In this role, you will

• Develop and implement effective recovery strategies for delinquent consumer loans, including late-stage collections, restructuring, and legal recovery.
• Lead and manage a team of recovery officers and external agents, ensuring performance targets are met and compliance standards are upheld.
• Conduct regular training sessions to enhance team skills in recovery techniques, customer interaction, and compliance.
• Develop and implement effective field recovery strategies to minimize loan losses and maximize recovery rates.
• Track and analyze delinquency trends, recovery rates, and portfolio performance to identify risks and opportunities for improvement.
• Oversee direct interactions with delinquent customers, ensuring respectful and effective communication.
• Resolve escalated issues and disputes, maintaining a customer-centric approach while safeguarding company interests.
• Ensure all recovery activities comply with relevant laws, regulations, and internal policies.
• Stay updated with changes in regulatory requirements and adapt recovery processes accordingly.
• Prepare and present regular reports on recovery performance, challenges, and forecasts to senior management and key stakeholders.
• Conduct detailed analysis of delinquent accounts to identify trends and inform strategic decision-making.
• Collaborate with other departments, including legal, risk management, and customer service, to ensure cohesive recovery operations.
• Communicate effectively with senior management, providing insights and updates on recovery activities.

We are looking for people with

• Minimum of 5 years of experience in field recovery operations within the banking or finance industry, with at least 2 years in a leadership role.
• In-depth knowledge of debt collection practices, laws, and regulations. Familiarity with financial services industry standards and compliance requirements.
• Excellent communication and interpersonal skills, with the ability to handle difficult situations with tact and professionalism.
• High ethical standards and integrity.
• Proficiency in using collection management software and Microsoft Office Suite.
• A Bachelors’ degree from an accredited university
• In-depth understanding of regulation within the Nigerian financial sector.
• Excellent leadership, communication skills & ability to work in a dynamic, fast-paced environment.