Loan Recovery Officer

Job Description

Vehicle Recovery: Locate and recover vehicles from customers who have defaulted on their loan payments and work in shifts as required.

Critical Response: Remain vigilant and respond immediately and appropriately to any threat alerts, taking the necessary action on the ground.

Investigation: Conduct thorough investigations to determine the location of vehicles, which may include surveillance, interviews, and the review of public records.

Documentation: Maintain detailed records of all recovery activities, including dates, times, locations of recovered vehicles, and interactions with customers.

Compliance: Ensure all recovery and repossession activities are carried out in accordance with company policies, compliance requirements, and applicable laws and regulations.

Customer Interaction: Communicate professionally and respectfully with customers, explaining the recovery process and their rights.

Safety: Adhere to all safety protocols to ensure the well-being of team members and the public during recovery and repossession activities.

Loan Recovery: Perform assigned duties related to the collection and recovery of outstanding loan amounts and support Accounts Receivable collection efforts.

Bad Debt Recovery: Negotiate repayment plans and settlements with debtors and implement effective strategies to recover potential bad debts and loss amounts.

Restructuring: Prepare restructuring proposals for approval and assist in their implementation before a client becomes more than 90 days past due.

Repossessed Asset Management: Coordinate effectively with legal resources, repossession agencies, and asset resale channels to ensure timely recovery and disposal of repossessed assets. Ensure that Letters of Demand and Repossession Notices are issued promptly and that the repossession process is conducted in accordance with established procedures and company policies.

External Stakeholder Management: Develop and maintain effective relationships with external partners, including collection agencies, repossession agents, and legal firms.

Skills Required

Spreadsheets (e.g. Excel, Google Sheets, etc)
Word Processing and Desktop Publishing Tools (MS Office, Google Docs, etc)