Job Summary

• The Recovery Officer is responsible for monitoring, following up, and recovering outstanding loans from clients of the microfinance bank.
• The role ensures that loan repayments are made promptly, non-performing loans are minimized, and effective recovery strategies are implemented in line with the bank’s credit policies.

Key Responsibilities

• Monitor loan accounts to identify overdue payments and default cases.
• Contact clients through phone calls, visits, and written reminders to ensure repayment of overdue loans.
• Negotiate repayment schedules with delinquent clients and ensure adherence to agreed terms.
• Prepare daily, weekly, and monthly reports on loan recovery activities and portfolio at risk (PAR).
• Work with the Credit and Risk teams to recommend appropriate actions for non-performing loans.
• Assist in initiating legal recovery processes where necessary.
• Maintain accurate and up-to-date records of all recovery efforts and client interactions.
• Educate clients on loan terms, repayment obligations, and consequences of default.
• Provide feedback to management on trends in loan default and recommend preventive measures.
• Support the achievement of the bank’s overall loan recovery and portfolio quality targets.

Performance Indicators (KPIs)

• Loan recovery rate (%).
• Reduction in portfolio at risk (PAR).
• Number of default cases resolved.
• Compliance with credit and recovery policies.
• Timeliness and accuracy of recovery reports.

Requirements

• Candidates should possess relevant qualifications with experience.