Recovery Officer

First AllyTrust (formerly Personal Trust) is a Microfinance Bank in Lagos and a subsidiary of First Ally Capital Limited (FACL). The Bank was registered in 1993 and operated as a Mortgage Bank until its conversion to a Microfinance Bank in 2014. First Ally Trust has a branch network at strategic locations in Lagos State and provides banking services to individuals, micro, Small and medium enterprises (MSME).

Job Title: Recovery Officer

Location: Lagos Mainland, Lagos

Employment Type: Full-time

Job Summary

• The Recovery Officer oversees the prompt receipt of overdue repayments.
• The recovery officer’s responsibility includes spotlighting and contacting defaulters, drafting repayment plans, negotiating payment options and liaising with debt recovery agents.

Duties and Responsibilities

• Ensuring write backs of provisioned or written off accounts though collection of overdue amounts.
• Identifying deviations from payment plans.
• Calling and visiting defaulters to follow up on overdue repayments.
• Proposing realistic, carefully constructed payment plans.
• Monitoring defaulters’ repayments to stop recurrent non-compliance.
• Protect the Bank’s Risk assets by closely monitoring all credit facilities
• Assists the Head of recovery in all recovery matters
• Collection of assigned accounts to ensure full repayment
• Early detection of delinquent accounts with collection/recovery strategy
• Report and update changes in residential and business addresses of defaulters and guarantors
• Formulate and implement appropriate strategies and actions to maximize recovery and minimize credit loss
• Evaluate collateral and documentation to identify recovery/remedial strategy for restructured accounts
• Work with the Branch Managers of the assigned branches on remediation and recoveries.
• Conduct spot checks on loan customers
• Generate collection reminders
• Initiate demand letters and reminders to defaulting customers
• Any other responsibility assigned by Management.

Qualifications

• OND / HND / BSc in any related field
• Evidence of completion/exemption of/from NYSC.

Experience:

• Previous experience as a remedial or recovery officer

Skills:

• Sound understanding of remedial and risk management
• Proficient in negotiating and persuasion with the ability to synthesize and present arguments in a logical and rational manner
• Good understanding of loan classification
• Excellent verbal and written communication skills, including ability to effectively communicate with internal and external customers
• Strong strategy and implementation skills
• Proficient in the use of MS Office suit
• Ability to multi task and handle pressure.