Senior Loan Recovery Officer

Job Summary:

The Senior Loan Recovery Officer at Vithey Microfinance is responsible for managing the recovery of overdue loans, developing strategies to reduce non-performing loans (NPLs), and ensuring compliance with the organization's recovery policies and procedures. This role requires excellent analytical skills, strong communication abilities, and a proactive approach to problem-solving. The officer will lead recovery efforts, mentor junior loan recovery officers, and contribute to improving the overall credit quality of the portfolio.

 

Duties and Responsibilities of Senior Loan Recovery Officer:

1)      Key Responsibilities

Loan Recovery Management:

• Develop and implement effective loan recovery strategies and processes.
• Manage and monitor the recovery of overdue loans to minimize the institution’s financial risk.
• Ensure timely and professional communication with delinquent borrowers to negotiate repayment plans.

Portfolio Analysis and Reporting:

• Conduct regular analysis of the loan portfolio to identify trends and areas of concern.
• Prepare detailed reports on recovery activities, including recovery rates, NPL ratios, and action plans.
• Present recovery performance metrics to senior management.

Risk Management:

• Assess and mitigate risks associated with delinquent loans.
• Collaborate with the credit team to review and update risk assessment criteria and recovery procedures.
• Implement measures to prevent future delinquencies.

Customer Relationship Management:

• Maintain positive relationships with clients while ensuring adherence to repayment schedules.
• Address and resolve customer inquiries and disputes regarding overdue loans.
• Provide financial counseling and advice to clients to facilitate loan repayment.

Legal and Compliance:

• Ensure compliance with all relevant laws, regulations, and internal policies related to loan recovery.
• Coordinate with legal teams to initiate legal actions against defaulters when necessary.
• Maintain accurate and up-to-date records of recovery actions and legal proceedings.

Team Leadership and Development:

• Mentor and guide junior loan recovery officers.
• Conduct training sessions to improve the skills and knowledge of the recovery team.
• Lead by example in maintaining high standards of professionalism and integrity.

Process Improvement:

• Identify and implement improvements in recovery processes and systems.
• Leverage technology to enhance the efficiency and effectiveness of recovery operations.
• Stay updated on best practices and industry trends in loan recovery and collections.

Field Visits and Investigations:

• Conduct field visits to assess the financial status of delinquent clients and their ability to repay.
• Perform thorough investigations to gather information and evidence related to overdue loans.

Stakeholder Engagement:

• Collaborate with other departments such as credit Unit, Legal & Compliance, and finance to ensure a coordinated approach to loan recovery.
• Engage with external stakeholders such as auditors, regulators, and industry bodies to ensure compliance and stay informed on best practices.

Performance Metrics:

• Monitor key performance indicators (KPIs) related to loan recovery and implement strategies to achieve targets.
• Regularly review and adjust recovery strategies based on performance data and feedback.

Budget Management:

• Manage the budget for the loan recovery department, ensuring efficient use of resources.
• Identify cost-saving opportunities without compromising on recovery effectiveness.

Policy Development:

• Assist in the development and updating of loan recovery policies and procedures.
• Enusure policies are in line with the organization's objectivities and regulatory requirements.

Training and Capacity Building:

• Develop training materials and programs for the recovery team.
• Conduct workshops and seminars to build the capacity of the team and other relevant staff.

2) Qualifications:

• Bachelor's degree
• Minimum of 4 years of experience in loan recovery, collections, or a related role in the microfinance or banking sector.
• Strong understanding of credit risk management and recovery principles.
• Excellent negotiation, communication, and interpersonal skills.
• Proficient in the use of financial software and recovery management tools.
• High level of integrity, professionalism, and ethical standards.
• Ability to work under pressure and handle challenging situations.
• Being good at English is an additional advantage.
• Some travel may be required for client visits and field investigations.
• Being good at English is and additional advantage

 Interested, please submit your CV and supporting documents to the address below:

Address: # 1192A, Corner of Yaza Htarni Road & Padauk Street, Pyimana Township, Naypyitaw.
Email to: recruitment@vitheymfi.com.
Phone: +95 98 837 44 874
Deadline for receiving application: 31 Oct 2024

Note: Shortlisted candidates will be contacted for writing test or interview.