Jofad Consulting – Our client in the fInancial industry is currently looking at recruiting for the position of a Loan Recovery and Monitoring Officer
The ideal Candidate will be responsible for the following:
- Monitors the credit portfolio and evaluate the risk of potential default while recommending recovery solutions
- Provides daily/weekly collection/payment schedules to customers and the marketing team while ensuring prompt and timely repayments as per schedule
- Identify and escalate repayment irregularities for further management action
- Preparation of monthly portfolio report for Management decision
- Preparation of weekly portfolio reports for credit review meetings
- Compute weekly branch wide Portfolio at Risk (PAR) report including; product, individual and branch PAR analysis
- Evaluate product performance through collection and data analysis
- Provide weekly report on turnover on loan accounts
- Maintain an effective trigger reporting system of credit impairments and propose corrective actions.
- Provides support to the legal, recovery, marketing and compliance department on Non-performing loans
- Call, visit and send periodic reminders to loan customers on scheduled repayments.
- Conduct post disbursement spot checks on customers to confirm loan performance and utilization.
- Monitoring defaulters’ repayments to stop recurrent non-compliance.
- Maintain PAR level in compliance with CBN regulations
- Follow up with account officers to reconcile payments received and real time transaction postings
- Presentation of repayment cheques
- Responsible for achieving monthly PAR target
- Negotiate payment plans with defaulters
Job requirement
- HND/BSc/ in any field
- Minimum of 2 years banking experience in a credit monitoring/analysis role
- Knowledge of banking operations, credit risk management, fraud management, Loan Recovery / Debt Management
Qualification/skills
- Strong leadership and people management skills
- Excellent interpersonal and communication skill
- Excellent negotiation and persuasive skills
- Administrative and managerial skills
- Excellent verbal and written communication skills
- Proficient in the use of MS Office suit
- Excellent negotiation and persuasive skills
- Ability to multi task and handle pressure
