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Credit Recovery Officer
Sales Manager Jobs Information
As a Credit Recovery Officer in Infinity Capital Micro-credit Ltd, you will play a critical role in mitigating credit risk and maximizing loan recovery for our reputable institution. You will be responsible for managing delinquent loan accounts, implementing recovery strategies, and working closely with clients to facilitate repayment arrangements. Your primary objective will be to minimize credit losses, preserve portfolio quality, and uphold the financial sustainability of our micro-credit operations.
1. Delinquency Management:
• Monitor and track delinquent loan accounts within the micro-credit portfolio, identifying early warning signs and escalating high-risk cases for proactive intervention.
• Conduct timely follow-ups with delinquent clients through phone calls, emails, letters, and in-person visits to remind them of overdue payments and negotiate repayment terms.
• Maintain accurate and up-to-date records of all communication and correspondence with delinquent clients, documenting payment commitments, arrangements, and agreements.
2. Payment Recovery:
• Work collaboratively with delinquent clients to develop customized repayment plans based on their financial circumstances, repayment capacity, and willingness to cooperate.
• Negotiate settlements, restructuring options, and alternative repayment solutions to facilitate the recovery of outstanding loan balances while preserving client relationships.
• Process payment collections, including cash, cheque, bank transfers, and electronic payments, ensuring accuracy and compliance with accounting procedures.
3. Client Engagement and Counseling:
• Provide empathetic and non-judgmental support to delinquent clients, understanding their challenges, hardships, and barriers to repayment.
• Conduct financial counseling sessions and budgeting workshops to help clients improve their financial literacy, money management skills, and debt repayment behavior.
• Refer clients to external resources and support services, such as social welfare programs, vocational training, or counseling services, as needed to address underlying issues impacting repayment.
4. Legal and Recovery Actions:
• Assess the feasibility of legal actions and recovery measures for severely delinquent accounts, collaborating with legal counsel and external agencies to pursue legal remedies, asset seizures, or debt enforcement actions.
• Prepare and submit documentation for legal proceedings, including demand letters, court filings, and repossession orders, in compliance with regulatory requirements and internal policies.
• Represent the institution in legal proceedings, hearings, and mediation sessions, advocating for the rights and interests of the organization while seeking favorable outcomes for loan recovery.
5. Performance Tracking and Reporting:
• Maintain comprehensive records of credit recovery activities, including case notes, payment histories, recovery outcomes, and recovery costs, for reporting and analysis purposes.
• Prepare regular reports and updates on delinquency rates, recovery efforts, and portfolio performance, providing insights and recommendations to management for strategic decision-making.
• Collaborate with internal stakeholders, including credit sales officers, collections teams, and senior management, to develop and implement effective credit recovery strategies and policies and foster easily tracking of new loan portfolios.
• Any other duties consistent with the job purpose and prevailing situation as required and assigned by team leads/superiors.
