Collections Officer

The Collections Officer is responsible for managing the recovery of overdue loans in a professional, efficient, and ethical manner.

Key Responsibilities:

1. Monitor Loan Portfolio:
• Track and monitor overdue loans and client payment status on a daily basis.
• Maintain accurate records of communication and collection efforts.
2. Client Communication:
• Contact customers via phone calls, emails, and in-person visits to remind them of overdue payments.
• Respond to customer inquiries and provide information on loan repayment options.
3. Negotiate and Resolve Delinquencies:
• Develop repayment plans and negotiate acceptable terms with borrowers who are in default.
• Ensure timely recovery of delinquent loans in accordance with company policy.
• Follow up consistently until delinquent accounts are cleared.
4. Client Relationship Management:
• Build and maintain professional relationships with customers to encourage on-time repayments.
• Provide financial advice and recommend solutions to customers facing financial difficulties.
5. Compliance and Reporting:
• Ensure all collection activities comply with relevant laws, regulations, and company policies.
• Prepare and submit regular reports on collections performance to management.
• Report any suspicious or fraudulent activities observed during collections.
6. Risk Management:
• Identify potential default risks and propose measures to mitigate them.
• Recommend legal action or alternative recovery methods where necessary.
7. Collaboration:
• Work closely with stakeholders to facilitate smooth collections processes.
• Participate in collections strategy meetings and provide feedback on loan recovery trends.