Senior Recovery Officer at La Fayette Microfinance Bank Limited, Advans Nigeria

Senior Recovery Officer at La Fayette Microfinance Bank Limited, Advans Nigeria

Main Responsibilities
Recovery Management:

  • Assess the situation of late payment to facilitate speedy customer in the payment.
  • Ensure that 50% of clients in Par 45 portfolio is contacted.
  • Ability to conduct proper portfolio handover.
  • Ensure that all correspondence/information are requested and received from responsible Client Officers and kept in the clients file.

Asset seizure / sales:

  • Ability to successfully conduct assets seizure independently.
  • Ensure proper documentation of the seized item and immediate storage of the same.
  • Maintain good communication with the Head of Recovery if challenges occur during seizures and also work with him to fix prices of the items in line with the banks policy.
  • Ability to coordinate seizures systematically with sales to ensure that the sales of the items can cover for the total outstanding debt.

Arrears Portfolio Management:

  • Conduct Portfolio segment analysis to identify risky segments and potential methods of recovery of the debt.
  • Ability to Follow up on pending payment agreements with default clients and reach negotiated agreements with them.
  • Identify challenges in own portfolio and discuss same with the Head of Recovery with the objective of overcoming the challenges to recover the debt.
  • Identify and analyse portfolio to determine root causes of default and propose the best method of recovery of the loan.
  • Ensure that very difficult cases at least 5 per week are brought to the attention of the weekly arrears committee meeting for a concerted effort towards debt recovery.

Reduction of Loan restructuring, Loan refinancing and Loan write-offs:

  • Ability to react proactively to unhealthy and risky portfolio thereby saving the institution of losses.
  • Conduct prompt follow up on all parties leading to a jointly negotiated settlement and reduction of losses.
  • Look for innovative ways to get loan repayment other than restructuring, refinancing and write-offs.
  • Reduce write-off projections for own portfolio by 30% monthly.

Generic Responsibilities
Quality control and production arrears management:

  • Ensure the recovery of written off loans.
  • Monitor customer file and late payment in arrears.
  • Perform reminders by telephone, mail or in the field of late payment by customers.
  • Apply debt collection procedures to unpaid instalments.
  • Maintain close contact with customers when necessary and feasible.
  • Achieve given recovery targets.
  • Negotiate a new schedule in case of actual difficulty of the customer found.
  • Ensure recovering unpaid instalments is in accordance to the banks’ policy.


  • Checking past due notices/other client correspondence/letters.
  • Monitoring customers’ compliance to timeline.


  • Education level: HND / B.A. / B.Sc in any related discipline, and must have completed NYSC or possess an exclusion certificate. Special Training: Debt Recovery Training will be an added advantage.
  • Experience Required: Minimum of two (2) years experience as a debt recovery officer preferably in a financial institution.

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