- Posted by: Administrator
- Categories: Finance, Lifestyle
COLLECTION OFFICERS JOB DESCRIPTION
Key roles and Responsibilities
- Control delinquent loan payments and recovery of non-performing loans.
- Timely and effectively contact delinquent clients.
- Analyse clients’ financial situations and negotiate loan repayment arrangements.
- Make recommendations to management, when appropriate, for stronger collection actions including repossession of security.
- Giving a detailed report on accounts collected on daily, mid-month and monthly basis.
- Maintain accurate records, files, and reports on all collection activity.
- Inform management on the trends in loan disbursements that contribute to delinquency.
- Contact clients whose loans are almost due to prepare them to honour the instalments.
- Ensure all cheques which are due for banking are duly banked and follow up on bounced cheques.
- Ensure all penalties arising from late repayments are followed up and collected.
- Work closely with external agencies on debt collection and recoveries.
- Ensure all demand letters are duly and timely issued and clients are informed of the steps to be taken.
- Adhere to the set policy on loan recoveries and collections.
- Send reminder messages to clients on their loan payments.
- Perform any other related function as assigned to by the management from time to time.
Required Skills & Qualifications
- A diploma in business related course or equivalent with demonstrable experience.
- Good negotiation and communication skills
- Full knowledge of retail clients’ products
- Good computer skills especially knowledge of excel and Credit MIS
- Strong analytical, relationship skills and attention to detail
MEASUREMENT OF PERFORMANCE
- Ability to reduce loans in arrears.
- Ability to collect overdue payments.
- Ability to collect on accounts closed as bad debt.
- Ability to complete special projects assigned and the necessary reports.
- Ability to utilize the resources of the company in a cost effective manner.
HOW TO APPLY
To make your application kindly forward your CV and cover letter to firstname.lastname@example.org indicating the position you are applying for as the subject line.