About the Role
Leap Microfinance is a leading financial institution dedicated to empowering individuals and businesses through smart financial solutions, including personal loans, business loans, salary advances, asset acquisition, and thrift services. We are currently looking for a results-driven Loan Monitoring & Recovery Officer to oversee our active loan portfolio, assess client financial health, and ensure sustainable repayment timelines while minimizing risk across our operations in Nigeria.
Key Responsibilities- Oversee the active loan portfolio to ensure timely repayments and monitor overall portfolio health.
- Regularly assess clients' financial health and business performance through field visits and financial analysis.
- Conduct thorough due diligence on loan applications, validate collateral, and assess associated risks.
- Verify employee guarantors to ensure they are in good financial standing.
- Implement proactive strategies to recover overdue loans, including client engagement and restructuring repayment plans.
- Initiate legal or law enforcement proceedings when necessary to recover defaulted amounts.
- Prepare detailed reports on loan performance, highlighting areas of concern and recommending corrective actions.
- Maintain accurate and up-to-date records of all monitoring, verification, and recovery activities.
- Ensure all lending and recovery processes strictly adhere to internal policies and regulatory standards.
- Build and maintain strong relationships with clients to foster trust and facilitate effective communication.
- Provide expert financial counseling to clients facing repayment challenges.
- Report directly to C-Suite executives on portfolio metrics and recovery updates.
- Possession of a Bachelor's Degree in Accounting, Finance, Economics, Business Administration, or a related field.
- Minimum of 3 years of proven experience in loan monitoring, credit risk management, or debt recovery within the microfinance or banking sector.
- Strong understanding of financial regulations and industry best practices in Nigeria.
- Exceptional negotiation, communication, and conflict-resolution skills.
- High level of integrity, attention to detail, and analytical prowess.
- Proficiency in financial reporting and database management.
- Competitive salary with performance-based incentives.
- Comprehensive health insurance coverage.
- Opportunities for professional development and career advancement.
- A collaborative and dynamic work environment driven by impact.