Latest Jobs at Advancly

• The Credit Collections & Recovery Officer will oversee the credit collections and recovery process and play a crucial role in minimizing credit risk, maximizing recovery, and maintaining positive customer relationships.
• The role requires a combination of analytical skills, negotiation abilities, and a customer-centric approach to ensure optimal financial outcomes for both the company and its clients.

 Responsibilities and Accountabilities 

 Collections & Recovery Management:

• Implement and execute effective strategies for timely collections of outstanding payments.
• Monitor and manage overdue accounts, analyzing delinquency trends, and taking appropriate actions to minimize risk
• Develop and implement recovery strategies to minimize losses and maximize recoveries.
• Work closely with legal and compliance teams to ensure adherence to regulatory requirements in the recovery process.

Customer Engagement:

• Communicate with customers regarding repayment plans, negotiate settlements, and provide assistance in resolving payment-related issues.
• Maintain a professional and empathetic approach to customer interactions, ensuring a positive customer experience.

 Reporting and Analysis:

• Prepare and analyze reports on collection and recovery performance, providing insights and recommendations for improvement.
• Collaborate with cross-functional teams to enhance credit risk models and contribute to continuous improvement initiatives

Compliance:

• Stay updated on relevant laws and regulations related to collections and recovery activities.
• Ensure all collection and recovery processes align with legal and regulatory requirements.

Qualifications

• Bachelor’s degree in finance, Business, or a related field
• Proven experience in credit collections and recovery within the financial services sector.
• Strong knowledge of local regulations and laws related to credit collections and recovery in Nigeria.
• Excellent negotiation and communication skills
• Analytical mindset with the ability to interpret data and make data-driven decisions.
• Detail-oriented, organized, and able to meet deadlines and possessing integrity.
• Ability to work independently and collaboratively in a fast-paced environment.

Job competencies and capabilities

• Extensive business development skills
• Business and financial acumen
• Sound business communication skills
• Effective client and strategic partner management skills
• Knowledge of contract and risk analysis
• Understanding of Country specific market conditions
• Flexibility, determination, and enthusiasm

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Job Summary

• The Credit Administration Officer will manage credit documentation, compliance, and risk mitigation processes for all loan transactions.
• The role requires collaboration with key departments to ensure prompt loan disbursement and the implemention of measures to minimize credit risks.
• The role demands analytical skills, negotiation abilities, and effective relationship management to optimize financial outcomes for both the company and clients.

 Responsibilities

• Maintain accurate credit documentation for all loan transactions.
• Prepare and record all credit-related letters and correspondences for easy accessibility.
• Perform credit status inquiry and interface with Credit Bureau.
• Generate reports on credit activities, portfolio performance and risk metrics.
• Daily monitor the credit portfolio and evaluate the risk of potential default while recommending solutions to the loan recovery team.
• Evaluate financial statements, credit reports, and other relevant information to make informed credit decisions.
• Collaborate with different departments, including Finance, Operations, Legal & Compliance to facilitate smooth and timely loan disbursement.
• Ensure compliance with regulatory requirements and internal policies.
• Provide weekly collection and payment schedules to the Growth team while ensuring prompt and timely repayments.
• Identify and escalate repayment irregularities for further management action.
• Communicate credit terms, conditions, and decisions to clients
• Engage in negotiations with clients to establish favorable credit terms.
• Any other responsibility assigned by Management.

Qualifications

• Bachelor’s degree in Finance, Business, or a related field.
• Proven experience in credit administration, loan processing within the financial services sector (at least 3-5 years).
• Strong understanding of financial principles, accounting practices, and credit analysis is essential.
• Excellent negotiation and communication skills.
• Experience in ensuring regulatory adherence within a financial institution.
• Analytical mindset, Detail-oriented, organized, and able to meet deadlines.
• Ability to work independently and collaboratively in a fast-paced environment.