Good Neighbours Microfinance Bank is Licensed by the Central Bank of Nigeria to render financial services to Nigerians in accordance with the CBN policy. Good Neighbours MFB has tirelessly set the pace for other Microfinance Institutions through distinguished service quality, product functionality and exceptional customer service.Description
Identify and contact customers with overdue payments via phone, email, and in-person visits to negotiate repayment plans and recover outstanding debts.
Conduct asset seizures independently.
Work with customers to develop feasible repayment plans that align with their financial situations while ensuring compliance with bank policies.
Develop, implement, and manage effective recovery strategies for delinquent loans.
Prepare regular reports on the status of overdue accounts, recovery progress, and any challenges faced to the Line manager.
Ensure compliance with legal and regulatory requirements in all recovery activities.
React proactively to unhealthy and risky portfolios to prevent losses.
Identify and analyze the portfolio to determine the root causes of default and propose the best method of recovery of the loan.
Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring.
Any other responsibilities assigned by the Line Manager.
Requirement / Skills
HND / BSc in Finance or a related field.
Minimum of 2 years of experience in debt recovery, credit collections preferably within the microfinance sector.
Strong negotiation, communication and time management skills.
High level of integrity and ethical standards.
Excellent knowledge of MS Office (especially Excel and Word)
Familiarity with microfinance principles, practices and regulatory requirements.