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Title
Text copied to clipboard!Loan Recovery Officer
Description
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We are looking for a skilled Loan Recovery Officer who is proficient in collecting outstanding dues from borrowers. The person in this role will play a vital part in maintaining the financial stability of the organization. The Loan Recovery Officer will communicate with borrowers, analyze their payment status, and implement effective recovery strategies to collect overdue amounts.
To succeed in this role, the candidate must possess excellent communication skills, analytical abilities, and the capability to handle difficult situations tactfully. The Loan Recovery Officer will maintain professional conduct while dealing with borrowers and ensure collections are made within legal boundaries. Additionally, the officer will prepare recovery reports and provide regular updates to senior management.
Prior experience in banking, finance, or a related field is preferred for this position. Knowledge of laws and regulations related to loan recovery is essential. The candidate must be able to work under pressure and meet deadlines efficiently.
We are looking for someone who is honest, responsible, and result-oriented. If you are interested in building a career in loan recovery and contributing to the financial success of our organization, apply today.
Responsibilities
Text copied to clipboard!- Contact delinquent borrowers
- Analyze borrowers' payment status
- Implement loan recovery strategies
- Collect dues within legal boundaries
- Prepare recovery reports
- Provide updates to senior management
- Maintain professional conduct with borrowers
- Assist in legal proceedings if necessary
- Maintain recovery-related records
- Support customer relationship improvement
Requirements
Text copied to clipboard!- Bachelor’s degree (preferably in Banking/Finance/Commerce)
- Experience in loan recovery or customer service
- Excellent communication and negotiation skills
- Awareness of legal and ethical standards
- Proficiency in MS Office and databases
- Ability to work under pressure
- Time management skills
- Ability to work independently
- Analytical and problem-solving skills
- Positive attitude and professionalism
Potential interview questions
Text copied to clipboard!- Do you have prior experience in loan recovery?
- How do you handle difficult customers?
- How do you assess a borrower's payment capacity?
- How do you perform under pressure?
- Are you familiar with loan recovery laws?
- How do you report to senior management?
- Are you comfortable working with targets?
- How do you maintain professional relationships with clients?
- What is your proficiency in MS Excel?
- Can you work in a team environment?
