Recovery Officer

Job Summary

Responsible for managing and executing strategies to recover overdue payments from delinquent accounts within Credit Direct. This role involves negotiating repayment plans, handling complex cases, and ensuring compliance with regulatory requirements.

Job Details

Debt Recovery:

Ensure timely follow up and resolution of accounts receivable balances.
Contact delinquent customers to recover overdue payments through phone calls, emails, and other communication methods.
Negotiate repayment plans and settlements within the institution’s guidelines.
Follow up on payment commitments to ensure compliance.
Resolve customer disputes and complaints in a professional and empathetic manner.
Educate customers on the consequences of non-payment and encourage timely payments.
Develop and maintain positive relationships with customers to facilitate recovery efforts.
Prepare and submit regular reports on recovery activities and results to the Head of Collections and Recovery.
Analyse recovery performance data to identify trends and areas for improvement.
Implement improvements based on analysis and feedback.

Case Management :

Handle complex recovery cases, including those that require legal action or involvement of external collection agencies.
Maintain detailed records of all recovery activities and customer interactions.
Monitor and manage a portfolio of delinquent accounts to minimize credit losses.
Work closely with the collections team and other departments, such as Legal and Customer Service, to resolve complex cases.
Coordinate with external collection agencies and legal firms as needed.
Participate in team meetings and contribute to process improvement discussions.

Compliance and Ethical Standards:

Ensure all recovery activities comply with relevant laws, regulations, and internal policies
Implement and maintain robust controls to manage risks associated with debt recovery.
Conduct regular audits and reviews to ensure adherence to compliance standards.
Maintain accurate and up-to-date records of all recovery activities and customer interactions.
Adhere to all relevant laws, regulations, and internal policies during collection activities.
Ensure compliance with the institution’s code of conduct and ethical standards.
Stay updated on changes in collection laws and industry best practices.

Requirements

Bachelor’s degree in Finance, Business Administration, or a related field
At least 2 – 4 years’ experience in a similar role within the Financial services industry.
Proven track record of managing successful recovery operations.
Experience in the consumer lending sector is an added advantage.

COMPETENCIES REQUIREMENTS:

Technical:

Business Continuity and Disaster Recovery Management
Data Analysis
Financial Analysis
Loan management
Quality Assurance
Risk Management
Customer Service

Behavioural:

Entrepreneurial Mindset
Excellence
Execution
Energy
Empathy
Evolution
Emotional Intelligence
Business Acumen
Decision-Making
Result Oriented
Communication written & verbal
Stakeholder Management
Analytical Thinking
Managing Risk
Service Orientation

What to Expect in the Hiring Process:

A preliminary phone call with the recruiter
Technical interview
Assessment
Interview with Senior members of the team
Cultural and Behavioural Fit Interview with a member of the Executive team.

Benefits

At Credit Direct Finance Company Limited, we value our employees and strive to provide a comprehensive benefits package that recognizes their contributions and supports their well-being. As part of our commitment to a positive work environment, we offer the following benefits:

Competitive Salary: We offer a competitive salary structure that is commensurate with industry standards and recognizes the skills and experience of our employees.

Quarterly Performance Pay: We recognize and reward exceptional performance. Our quarterly performance pay program allows employees to earn additional compensation based on their individual and team achievements.

Transport Subsidy: We understand the importance of accessible transportation for our employees. To assist with commuting expenses, we provide a transport subsidy to help alleviate the financial burden associated with travel to and from work.

Staff Bus: We offer a convenient and reliable staff bus service for eligible employees, ensuring a comfortable and stress-free commute to the workplace.

Hybrid Work: We believe in providing flexibility and work-life balance. Our hybrid work policy allows eligible employees to work remotely for a certain number of days per week, promoting a healthy work-life integration.

13th Month Salary: As an additional financial benefit, we provide a 13th-month salary to our employees. This extra payment, usually received at the end of the year, serves as a bonus and acknowledges their dedication and commitment throughout the year.

Leave Allowance: We recognize the importance of taking time off for rest and relaxation. In addition to annual leave entitlement, we provide a leave allowance to eligible employees, offering financial support during their vacation time.

Profit Sharing: We believe in sharing our success with our employees. Through our profit-sharing program, eligible employees have the opportunity to receive a share of the company's profits, providing an additional incentive for their dedication and hard work.

These benefits are designed to support our employees' financial well-being, work-life balance, and professional growth. We continuously review and enhance our benefits package to ensure that it remains competitive and aligned with the needs and preferences of our valued employees.

About Company

Credit Direct Finance Company Limited

https://creditdirect.seamlesshiring.com

Credit Direct is the Fintech arm of the FCMB Group.