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  • Posted: Mar 3, 2023
    Deadline: Not specified
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    History and vision: Created in June 2012 and formally incorporated as La Fayette Microfinance Bank Ltd, Advans Nigeria is the seventh greenfield of the Advans Network. Advans Nigeria’s objective is to target MSMEs in urban areas of Nigeria, where market studies have shown that only one in ten entrepreneurs has access to credit. Network: Advans Niger...
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    Senior Recovery Officer

    Main Responsibilities
    Recovery Management:

    • Assess the situation of late payment to facilitate speedy customer in the payment.
    • Ensure that 50% of clients in Par 45 portfolio is contacted.
    • Ability to conduct proper portfolio handover.
    • Ensure that all correspondence/information are requested and received from responsible Client Officers and kept in the clients file.

    Asset seizure / sales:

    • Ability to successfully conduct assets seizure independently.
    • Ensure proper documentation of the seized item and immediate storage of the same.
    • Maintain good communication with the Head of Recovery if challenges occur during seizures and also work with him to fix prices of the items in line with the banks policy.
    • Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover for the total outstanding debt.

    Arrears Portfolio Management:

    • Conduct Portfolio segment analysis to identify risky segments and potential methods of recovery of the debt.
    • Ability to Follow up on pending payment agreements with default clients and reach negotiated agreements with them.
    • Identify challenges in own portfolio and discuss same with the Head of Recovery with the objective of overcoming the challenges to recover the debt.
    • Identify and analyse portfolio to determine root causes of default and propose the best method of recovery of the loan.
    • Ensure that very difficult cases at least 5 per week are brought to the attention of the weekly arrears committee meeting for a concerted effort towards debt recovery.

    Reduction of Loan restructuring, Loan refinancing and Loan write-offs:

    • Ability to react proactively to unhealthy and risky portfolio thereby saving the institution of losses.
    • Conduct prompt follow up on all parties leading to a jointly negotiated settlement and reduction of losses.
    • Look for innovative ways to get loan repayment other than restructuring, refinancing and write-offs.
    • Reduce write-off projections for own portfolio by 30% monthly.

    Generic Responsibilities
    Quality control and production arrears management:

    • Ensure the recovery of written off loans.
    • Monitor customer file and late payment in arrears.
    • Perform reminders by telephone, mail or in the field of late payment by customers.
    • Apply debt collection procedures to unpaid instalments.
    • Maintain close contact with customers when necessary and feasible.
    • Achieve given recovery targets.
    • Negotiate a new schedule in case of actual difficulty of the customer found.
    • Ensure recovering unpaid instalments is in accordance to the banks’ policy.

    Controls:

    • Checking past due notices/other client correspondence/letters.
    • Monitoring customers’ compliance to timeline.

    Profile

    • Education level: HND / B.A. / B.Sc in any related discipline, and must have completed NYSC or possess an exclusion certificate. Special Training: Debt Recovery Training will be an added advantage.
    • Experience Required: Minimum of two (2) years experience as a debt recovery officer preferably in a financial institution.

    Method of Application

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