About this role
The role of Head Recovery at Good Neighbours Microfinance Bank in Lagos focuses on managing and recovering overdue loans. It targets professionals with experience in debt recovery and credit collections, ideally from the microfinance sector. The bank is licensed by the Central Bank of Nigeria and emphasises service quality, product functionality and customer service. The position involves developing recovery strategies, negotiating repayment plans, and ensuring compliance with bank policies and regulations. It also requires coordinating with the sales team and legal representatives as needed, and maintaining detailed recovery records.
What you would do
- Identify overdue accounts and contact customers to negotiate repayment plans
- Conduct asset seizures independently when applicable
- Coordinate with the sales team to ensure recoveries cover outstanding debt
- Develop and implement recovery strategies for delinquent loans
- Follow up consistently to resolve overdue accounts and report progress to management
- Prepare regular status reports on overdue accounts and recovery challenges
- Ensure compliance with legal and regulatory requirements in recovery activities
- Analyse portfolios to identify root causes of default and propose recovery methods
- Issue demand and reminder letters to defaulting customers and review credit files for monitoring
- Liaise with legal representatives after other strategies are exhausted and maintain records of all activities
What they are asking for
- HND or BSc in Business Administration, Economics or related field
- Minimum 4 years of experience in debt recovery or credit collections, preferably in microfinance
- Strong negotiation, communication and time management skills
- High integrity and ethical standards
- Proficient in MS Office (Excel and Word)
- Familiarity with microfinance principles, practices and regulatory requirements
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