About the Role
Loochi Investment Ltd is a reputable lending firm dedicated to providing accessible financial services to underserved entrepreneurs and small business owners across Nigeria. We are currently seeking a dynamic and resilient Recovery Officer to join our growing team. In this role, you will be responsible for managing non-performing loans, recovering past-due accounts, and minimizing bad debt write-offs while maintaining ethical collection standards and preserving positive client relationships.
Key Responsibilities- Monitor delinquent loan portfolios to identify overdue accounts, categorization, and formulate effective recovery strategies.
- Conduct field visits, phone calls, and formal correspondence to contact defaulting clients and guarantors professionally.
- Negotiate and restructure repayment plans for willing but financially distressed clients within approved policy thresholds.
- Collaborate closely with legal counsel and third-party recovery agencies for severely escalated default cases.
- Ensure all recovery activities strictly comply with Nigerian consumer protection regulations and ethical debt collection practices.
- Assess collateral and pledged assets for potential liquidation where persistent non-payment occurs.
- Identify underlying causes of loan defaults and report recurring credit risks to the underwriting team.
- Maintain accurate, up-to-date logs of all client interactions, recovery efforts, and payment promises.
- Prepare comprehensive weekly and monthly recovery performance reports, default rate analysis, and provision tracking.
- Track recovered funds against targets and coordinate with the finance department for accurate ledger postings.
- Bachelor's degree in Banking, Finance, Economics, Accounting, Law, or a related discipline.
- Minimum of 2 to 3 years of proven experience in loan recovery, debt collection, or credit risk management within the Nigerian microfinance or financial sector.
- Strong working knowledge of regulatory guidelines and ethical debt collection practices in Nigeria.
- Exceptional negotiation, communication, and interpersonal skills with the ability to handle difficult clients professionally.
- High level of integrity, resilience, and strong problem-solving abilities.
- Proficiency in using credit management software and Microsoft Office Suite.
- Competitive salary with attractive performance-based recovery commissions.
- Comprehensive health insurance coverage.
- Opportunities for professional development and career advancement within the financial sector.
- A collaborative, dynamic, and supportive work environment.