Job Description: Collections Officer – Microfinance Company

Position Title: Collections Officer
Reports to: Collections Manager

Job Summary:
The Collections Officer is responsible for managing the recovery of overdue loans in a professional, efficient, and ethical manner. This role involves tracking delinquent accounts, reaching out to customers, negotiating repayment plans, and ensuring compliance with the company's credit policies. The Collections Officer will play a key role in maintaining a healthy loan portfolio and fostering a good relationship with customers.

Key Responsibilities:

1. Monitor Loan Portfolio:
• Track and monitor overdue loans and client payment status on a daily basis.
• Maintain accurate records of communication and collection efforts.
2. Client Communication:
• Contact customers via phone calls, emails, and in-person visits to remind them of overdue payments.
• Respond to customer inquiries and provide information on loan repayment options.
3. Negotiate and Resolve Delinquencies:
• Develop repayment plans and negotiate acceptable terms with borrowers who are in default.
• Ensure timely recovery of delinquent loans in accordance with company policy.
• Follow up consistently until delinquent accounts are cleared.
4. Client Relationship Management:
• Build and maintain professional relationships with customers to encourage on-time repayments.
• Provide financial advice and recommend solutions to customers facing financial difficulties.
5. Compliance and Reporting:
• Ensure all collection activities comply with relevant laws, regulations, and company policies.
• Prepare and submit regular reports on collections performance to Management.
• Report any suspicious or fraudulent activities observed during collections.
6. Risk Management:
• Identify potential default risks and propose measures to mitigate them.
• Recommend legal action or alternative recovery methods where necessary.
7. Collaboration:
• Work closely with stakeholders to facilitate smooth collections processes.
• Participate in collections strategy meetings and provide feedback on loan recovery trends.

Qualifications and Skills:

• Education: Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Experience: Minimum of 2 years of experience in credit collections, loan recovery, or a similar role, preferably in the microfinance or financial services sector.
• Skills:
• Strong negotiation and persuasion skills.
• Excellent communication skills, both written and verbal.
• High level of integrity and ability to maintain confidentiality.
• Strong analytical and problem-solving abilities.
• Familiarity with credit management and collection systems.
• Flexibility to accommodate client availability
• Knowledge of local microfinance regulations and loan collection laws.
• Proficiency in Microsoft Office (Word, Excel) and loan management software.

What We Offer:

• Competitive salary.
• Comprehensive benefits package, including health, dental, and group life insurance.
• Ongoing training and professional development opportunities.
• Supportive and collaborative work environment.
• Opportunities for career advancement.

How to Apply: If you are ready to take your career to the next level and make a meaningful impact on clients' lives, please submit your resume and cover letter with the subject line "Collections Officer Application – [Your Name]."