Debt Recovery Officer
As a Debt Recovery Officer, you will play a crucial role in recovering outstanding debts owed to our micro-financial institution. Your primary responsibility will be to engage with debtors, negotiate payment arrangements, and ensure the successful recovery of delinquent accounts. This position involves frequent field visits to meet debtors in person.

Responsibilities:

1. Debt Recovery Field Visits:

• Conduct regular field visits to debtors’ locations (residences, businesses, etc.) to discuss outstanding debts.
• Assess debtors’ financial situations, understand their challenges, and negotiate repayment terms.
• Maintain a professional demeanor while interacting with debtors and adhere to ethical practices.

2. Account Management:

• Keep track of assigned accounts to identify outstanding debts.
• Prioritize accounts based on urgency and recovery potential.
• Plan a course of action to recover outstanding payments.

3. Communication and Negotiation:

• Locate and contact debtors to inquire about their payment status.
• Initiate contact through phone calls, letters, or in-person visits.
• Negotiate payoff deadlines, payment plans, and settlements.
• Handle questions, complaints, and concerns from debtors.

4. Collaboration and Teamwork:

• Work closely with the Loan Officers and Finance & Operations Manager.
• Assess customer credit risk and develop effective debt recovery strategies.
• Provide regular updates on progress and challenges faced during field visits.

5. Documentation and Reporting:

• Maintain accurate records of interactions with debtors.
• Document negotiation outcomes, payment agreements, and any relevant information.
• Prepare detailed reports for management, highlighting progress and challenges.

6. Legal Compliance:

• Familiarize yourself with relevant debt recovery laws and regulations.
• Ensure compliance with legal requirements during the recovery process.
• Escalate cases to legal authorities when necessary.

We are looking for individuals who wish to develop their career in debt recovery and credit. This is an opportunity for the right individual to work with some of the most experienced professionals in the MFI sector. The role will provide on-the-job training and requires a result-oriented individual.

Qualifications:

• Experience: No experience in debt recovery required, preferably in a field-based role.
• Education: Grade 12 certificate or recently graduated from college.

Skills:

• A willingness to work hard and learn on the job.
• Being coachable.
• Strong communication and negotiation skills.
• Ability to handle difficult conversations with debtors.
• Strong organizational and time management abilities.
• Willingness to learn how to use relevant software tools (e.g., CRM systems, Excel).
• Willingness to learn the legal aspects related to debt recovery.

Required Competencies:

1. Empathy and Resilience:

• Ability to empathize with debtors’ situations while maintaining professional boundaries.
• Resilience to handle rejection, difficult emotions, and challenging interactions.

2. Negotiation Skills:

• Proficient in negotiating payment terms, settlements, and repayment plans.
• Persuasive communication to encourage debtors to fulfill their obligations.

3. Problem-Solving:

• Analytical mindset to assess debtors’ financial circumstances and propose viable solutions.
• Creative problem-solving to overcome obstacles during debt recovery.

4. Attention to Detail:

• Accurate record-keeping and documentation.
• Thoroughness in assessing account information and identifying discrepancies.

5. Ethical Conduct:

• Adherence to ethical standards and legal guidelines.
• Honesty and integrity in all interactions with debtors.

Working Conditions:

• Field-Based: You will spend a significant portion of your time in the field, visiting debtors’ locations.
• Travel: Regular travel within the assigned region is required.
• Flexible Hours: Some evening or weekend work may be necessary to accommodate debtors’ schedules.

Compensation:

• Competitive salary offered.
• Performance-based incentives tied to successful debt recovery.