The Recovery Officer position at FINCA Uganda is crucial for ensuring the financial health of the organization by managing the recovery of overdue loans. This role involves engaging directly with clients to negotiate repayments and maintaining relationships that foster trust and accountability. The first few months will focus on understanding the policies and procedures of loan recovery, as well as building rapport with branch teams and customers. You will be instrumental in minimizing losses and contributing to the overall mission of providing financial services to low-income individuals and communities.
Key Responsibilities
Monitor and coordinate all loan recovery activities for both active loans and those that have been written off, ensuring that all actions are documented thoroughly.
Ensure adherence to the loan recovery escalation process, which includes timely communication with customers and following up on overdue accounts.
Negotiate payment agreements with customers who have delinquent accounts, focusing on securing commitments to pay while considering the best interests of FINCA Uganda.
Maintain strict compliance with internal policies, procedures, and all regulatory guidelines relevant to the collection activities.
Conduct regular visits to customers’ securities for both active and written-off loans, providing management with updates on the condition of these securities.
Identify delinquent accounts that may require legal action, ensuring that management is informed and can take appropriate steps.
Coordinate the allocation of bad loans to external debt collectors or court bailiffs, ensuring that all necessary approvals are secured beforehand.
Participate in periodic reviews of loan recovery procedures, offering insights and recommendations based on developments in the recovery process.
Update the Field Collections Tool daily, providing your supervisor with the current status of all loans under your management.
Ensure proper procedures are followed for the liquidation of customer collaterals and assist recovery agents in the recovery process.
Follow up on and ensure that all recoveries from both active and written-off loans are accurately recorded and reconciled regularly.
Manage reporting requirements for assigned cases, maintaining transparency and accountability in all recovery efforts.
Requirements & Qualifications
A background in finance, business administration, or a related field is typically required for this role.
Experience in loan recovery, collections, or credit management will be highly advantageous.
Strong negotiation and communication skills are essential for engaging with clients and resolving issues amicably.
Proficiency in using data management tools, including the Field Collections Tool, to track recovery progress and report to management.
Ability to work independently and collaboratively in a team environment, demonstrating a commitment to achieving targets.
What You’ll Gain
Develop critical skills in negotiation and client relationship management, enhancing your professional capabilities in finance.
Gain hands-on experience in fieldwork, providing valuable insights into customer behaviors and financial decision-making.
Opportunity for career advancement within the microfinance sector, especially in roles related to risk management and credit analysis.
Be part of a team that is dedicated to social responsibility, contributing to the financial empowerment of low-income communities.
How to Apply
If you are ready to take on this rewarding challenge, please submit your application through the following link: Apply here.
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