Pulse Financial Services Limited (PFSL) trading as Entrepreneurs Financial Centre (EFC) is a deposit-taking microfinance institution, licensed by the Bank of Zambia, that offers specialized financial services to Micro, Small and Medium scale Entrepreneurs & Enterprises, including businesswomen. EFC seeks highly driven individuals to join our team as Debt Recovery Officer

The main objective of this role is to monitor, collect and manage the delinquent portfolio and returning loan accounts to performing status i.e. reducing slippage of loans into non performing status. Other objectives include the recovery of written off loans within set targets.

Key Responsibilities

• Locate and notify delinquent borrowers and guarantors by personal visits, telephone or mail in order to solicit payment or seize loan collaterals
• Record information about financial status of borrowers and status of collection efforts.
• Prepare and manage an action plan for cases in PAR 90 and all assigned cases.
• Negotiate payments while continuing to build a relationship with borrowers and guarantors.
• Confer with borrowers and guarantors by telephone or in person to determine reasons for overdue payments and to establish the terms of reimbursement plan.
• Persuade borrowers and/or guarantors to pay amounts due on loans, damage claims, or unpaid checks, or to return collaterals on loans.
• Locate and monitor overdue accounts, as directed.
• Manage collection efforts with a high level of persuasiveness & professionalism.
• Maintain positive customer relationship and minimize bad debt exposure.
• Support the Relationship Managers in the collection activities
• Establish contacts to facilitate the quick sale of confiscated assets
• Deliver warning letters to defaulting clients.
• Undertake confiscations of pledged assets on defaulting clients according to the EFC policies and procedures

Requirements

• Diploma in Business Administration, Accounting, Finance, Banking or a related field.
• 3 years of working experience in a financial sector; among which at least 2 years should be in Collections/Recoveries.
• Knowledge of credit policy/procedures and governance, and regulatory requirements related to Debt Recovery management.