About the role

Recovery Officer - Business Loan Collection for Write Off Bucket

Job Summary:

We are seeking a dedicated Recovery Officer to join our team, focusing on the effective collection of business loans designated for the write-off bucket. This role is pivotal in mitigating financial losses while maintaining positive relationships with clients and ensuring compliance with regulatory standards.

Key Responsibilities:

Conduct thorough analyses of accounts in the write-off bucket to identify recovery opportunities and strategize tailored collection approaches.
Engage with clients through various communication channels to negotiate repayment plans and facilitate loan recoveries.
Document all interactions and collection efforts meticulously within the company’s systems to ensure accurate reporting and compliance.
Collaborate with internal teams, including legal and compliance, to mitigate risks and support recovery initiatives.
Monitor and report on collection metrics, identifying trends and recommending improvement strategies to enhance recovery rates.
Stay abreast of industry regulations and best practices to maintain compliance and to provide insight into policy changes affecting loan recoveries.

Requirements:

Must be graduate in any field.
Proven experience in debt collection, particularly in business loan recovery or similar financial services roles.
Strong understanding of financial principles and regulatory requirements related to loan recovery processes.
Exceptional communication and negotiation skills to effectively engage with clients.
Ability to analyze financial data and make informed decisions regarding recovery strategies.
Familiarity with collection software and CRM systems for tracking interactions and managing accounts.
Detail-oriented with excellent organizational skills to manage multiple accounts and priorities simultaneously.
Exposure to legal processes will be an added advantage.

Preferred Qualifications:

Diploma or degree in Finance, Business Administration, or a related field.
Certification in credit management or collections is a plus.
Experience with complex account structures and high-value loan collections.
Proficiency in additional languages is an advantage to support diverse clientele.

Benefits:

Competitive salary with performance-based incentives.
Comprehensive health and wellness benefits, including dental and vision coverage.
Retirement savings plan with company matching contributions.
Professional development opportunities and continuing education support.