Recovery Officer
Recovery Officer
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
Job Description
A Recovery Officer is responsible for actively contacting customers with overdue payments negotiating repayment plans and taking necessary legal actions to recover outstanding debts ensuring compliance with company policies and legal regulations ultimately aiming to minimize bad debts and maintain a healthy cash flow for the organization; requiring strong communication negotiation skills and a thorough understanding of debt collection procedures.
Key Responsibilities:
Contacting Debtors:
Reaching out to customers with delinquent accounts via phone email and mail to remind them of their outstanding balance and initiate repayment discussions.
Debt Collection Negotiations:
Negotiating repayment plans with customers based on their financial situation including instalment agreements or debt settlements.
Account Management:
Maintaining detailed records of customer interactions payment history and account status within the companys CRM system.
Legal Actions:
Initiating legal proceedings against customers who fail to comply with repayment plans including filing lawsuits or pursuing collections through debt agencies.
Financial Analysis:
Assessing customer financial situations to determine the feasibility of repayment plans and potential recovery options.
Compliance Management:
Adhering to all relevant debt collection laws and regulations ensuring ethical and professional conduct throughout the recovery process.
Requirements
Required Skills and Qualifications:
Excellent Communication Skills:
Ability to clearly communicate with customers in a professional and assertive manner while effectively handling objections.
Negotiation Skills:
Proven ability to negotiate repayment plans that are mutually beneficial for the company and the customer.
ProblemSolving Abilities:
Identifying complex customer situations and finding creative solutions to resolve outstanding debts.
Financial Acumen:
Basic understanding of financial statements and the ability to analyze customer financial information.
Legal Knowledge:
Familiarity with relevant debt collection laws and regulations.
Data Management:
Proficiency in using CRM systems to track customer interactions and manage large volumes of data.
Work Environment:
Primarily officebased with frequent phone communication with customers.
May involve occasional field visits to meet with customers in specific situations.
Can be a demanding role requiring the ability to work under pressure and meet strict deadlines.
Benefits
Employment Benefits
Salary: 25 30K
Annual Bonus
Statutory Benefits
Required Skills and Qualifications: Excellent Communication Skills: Ability to clearly communicate with customers in a professional and assertive manner, while effectively handling objections. Negotiation Skills: Proven ability to negotiate repayment plans that are mutually beneficial for the company and the customer. Problem-Solving Abilities: Identifying complex customer situations and finding creative solutions to resolve outstanding debts. Financial Acumen: Basic understanding of financial statements and the ability to analyze customer financial information. Legal Knowledge: Familiarity with relevant debt collection laws and regulations. Data Management: Proficiency in using CRM systems to track customer interactions and manage large volumes of data. Work Environment: Primarily office-based, with frequent phone communication with customers. May involve occasional field visits to meet with customers in specific situations. Can be a demanding role requiring the ability to work under pressure and meet strict deadlines.
Employment Type
Full Time
