Recovery Officer (Written Off) at Advans LaFayette Microfinance Bank (5 Openings)

Advans Nigeria, originally established as La Fayette Microfinance Bank Limited in June 2012, was founded with the mission to provide comprehensive financial services to Micro, Small, and Medium Enterprises (MSMEs) across Nigeria. Our commitment to supporting MSMEs is at the heart of our operations, ensuring financial inclusion and empowerment for small businesses. In January 2013, Advans Nigeria proudly opened its first branch office in Ibadan, marking the beginning of our journey in delivering exceptional microfinance banking services. By May 2013, we expanded with a second branch, followed by three additional branches in 2014 to cater to the growing needs of our clients.

Our growth continued in 2016, with two more branches established outside of Ibadan, further extending our reach. In 2019, Advans Nigeria achieved a significant milestone by obtaining a national operating license from the Central Bank of Nigeria, solidifying our status as a premier microfinance bank. Today, Advans Nigeria boasts over 30 branches and outlets across 7 States in Nigeria, offering a wide range of microfinance solutions, including loans for business owners, digital microfinance banking, and financial services for low-income families. Our expansion plans are focused on reaching even more communities, ensuring that financial empowerment and economic development are accessible to all.

Join Advans Nigeria as we continue to grow and support the financial goals of MSMEs, individuals, and communities throughout Nigeria. Trust us for reliable microfinance banking services and experience the benefits of working with an international microfinance institution dedicated to your success.

We are recruiting to fill the position below:

Job Title: Recovery Officer (Written Off)

Locations: Aba - Abia, Saki - Oyo, Akure - Ondo, Ikorodu - Lagos and Anambra
Employment Type: Full-time

Main Responsibilties
Recovery Management:

Assess the situation of late payment to facilitate speedy customer in the payment.
Ensure that 50% of clients in Par 1-90 portfolio are 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 Responsibilties:
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 installments.
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 installments is in accordance to the banks’ policy.

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