Recovery Officer at Peridot Forte Solutions Consulting

Job Summary

The Recovery Officer is responsible for collecting bad debt including written-off loans and loans overdue, the administration and implementation of the loan recovery process. Establish repayment schedules, monitoring repayment of loan, and adherence to instalment schedules.

Responsibilities

• Maintain customer payment records.
• Plan courses of action to recover outstanding payments from defaulting customers.
• Locate and contact debtors to demand payments.
• Negotiate payoff deadlines or payment plans.
• Respond to customer queries.
• Build trust with delinquent customers.
• Update account status and database regularly.
• Manage loan default and daily monthly issues/exceptions/severity and report same to the appropriate authority.
• Conduct regularly scheduled field and surprise visits to defaulting and regular customers.
• Analyze delinquent accounts and prepare reports on highest risk accounts including recommendations for resolution.
• Maintain statistics on recoveries.
• Work closely with Credit and Legal team to ensure synergy and all-time customer satisfaction while ensuring debts are being recovered and paid up.
• Operate in compliance with laws and regulations. Devise customized recovery strategy on a case by case basis, reducing the non-performing loans owed by customers.
• Minimizing customer response times by issuing reminder notices and customer statements and monitoring collection of loan in a timely manner.
• Establish repayment schedules, monitoring repayment of loan, and adherence by debtors to instalment schedules.

Requirements

• First Degree in Accounting, Banking & Finance, Economics, Statistics and other related field.
• 3 - 5 years’ experience in recovery in a financial sector.
• Strong planning and organizational skills.
• Good time management.
• Strong communication skills (both written and oral) and excellent telephone etiquette.
• Proactive and ability to take initiative.
• Ability to work within a team as well as independently