Recovery Officer at Strivo Labs

Job Summary

• The Recovery Officer is responsible for tracking, engaging, and recovering overdue payments on financed devices from customers.
• The role ensures that delinquent accounts are effectively followed up on, using ethical and professional recovery strategies while maintaining customer relationships and minimizing losses.

Key Responsibilities

Loan Recovery & Follow-up:

• Contact delinquent customers via calls, SMS, field visits, and emails to follow up on outstanding payments.
• Negotiate repayment terms and ensure adherence to agreed timelines.
• Implement effective recovery strategies for different customer risk profiles.

Portfolio Management:

• Monitor assigned loan portfolio to identify early signs of default.
• Maintain accurate and up-to-date records of all recovery activities.

Field Recovery:

• Conduct field visits where necessary to recover financed devices or enforce repayment.(This is limited to customers within Lagos).
• Liaise with local authorities or field agents in difficult or high-risk recovery areas.
• Retrieve devices from chronic defaulters where recovery is impossible.

Reporting:

• Generate daily, weekly, and monthly reports on recovery status and collection performance.
• Provide insights on trends, customer behavior, and recommendations for process improvements.

Customer Engagement:

• Provide repayment education to customers and advise on consequences of further default.
• Assist customers in restructuring their payment plans when applicable.