Role Summary:
The Retail Remedial Officer is responsible for supporting the management and recovery of delinquent and non-performing accounts within the Bank’s retail portfolio. The role focuses on closely monitoring assigned accounts, engaging with customers and guarantors, assessing repayment capacity, and recommending appropriate remedial solutions, including restructuring, rescheduling, settlement, or other recovery arrangements.
Key Responsibilities:
- Achieve Collection targets set by the Retail and Remedial In-Charge or the Department Manager
- Manage and monitor delinquent and non-performing retail accounts.
- Prepare restructuring, rescheduling, and settlement proposals in line with approved policies
- Monitor repayment plans and ensure compliance with agreed terms
- Coordinate with Credit, Collection, Legal, Branches, and other relevant departments.
- Prepare regular reports and provide updates on portfolio performance and remedial activities
- Prepare credit studies on the debts of defaulting clients and/or their guarantors within the scope of the job, the results of follow-ups and investigations, and develop appropriate recommendations in terms of scheduling debts
- Maintain polite and professional communication with debtors to explain the importance of timely payments and resolve disputes.
- Ensure that all debt collection practices adhere to relevant laws and regulations, such as the Fair Debt Collection Practices Act.
- Negotiate settlements with debtors when appropriate, taking into account the company's guidelines and policies
- Evaluate the creditworthiness of debtors and recommend credit limits or restrictions when needed
- Stay updated on industry trends, regulations, and best practices in debt collection to improve effectiveness.
Qualifications & Skills:
- Education: Bachelor’s degree in finance, Business Administration, or related field.
- 3 – 5 years of experience in retail collections, debt recovery, or a similar role within the banking or financial services sector.
- Strong negotiation and communication skills.
- Knowledge of collection policies, regulations, and financial analysis.
We are an equal-opportunity employer, committed to fostering an inclusive workplace. All applicants will be considered for employment without discrimination based on race, color, religion, gender, national origin, or disability status.
We are dedicated to maintaining a safe, healthy, and supportive work environment for all.
