About Company
LAPO Microfinance Bank Ltd. is a leading financial institution dedicated to empowering low-income individuals and micro-entrepreneurs across Nigeria. With a robust network of branches and a commitment to financial inclusion, LAPO provides accessible financial services, including credit facilities, savings, and other value-added products. We believe in creating opportunities that foster economic growth and improve livelihoods within the communities we serve. Joining LAPO means becoming part of a passionate team that makes a tangible difference in people’s lives every day, contributing to a brighter, more financially stable future for thousands.
Job Description
Are you a highly motivated and empathetic individual with a knack for negotiation and problem-solving? LAPO Microfinance Bank Ltd. is seeking a dedicated Loan Recovery Officer to join our dynamic team in Rumukalagbor, Port Harcourt. In this critical role, you will be at the forefront of ensuring the sustainability of our loan portfolio by engaging with clients to recover outstanding debts. This isn’t just about debt collection; it’s about understanding our clients’ challenges, guiding them towards sustainable repayment solutions, and maintaining strong relationships built on trust and mutual respect. You will manage a portfolio of delinquent accounts, conduct thorough follow-ups, and implement effective recovery strategies while strictly adhering to ethical guidelines and company policies. This position requires someone who is not only results-driven but also possesses a strong sense of empathy and a commitment to our mission of financial inclusion. If you are eager to contribute to a thriving microfinance institution and help empower communities, we encourage you to apply. Your success in this role directly impacts our ability to continue providing vital financial services to those who need them most, driving economic empowerment and poverty reduction across our operational areas.
Key Responsibilities
- Monitor and manage a portfolio of delinquent loan accounts, identifying and prioritizing cases for follow-up.
- Initiate contact with clients through various channels (phone calls, field visits, letters) to discuss outstanding payments and understand their repayment challenges.
- Negotiate and agree on realistic repayment plans with clients, ensuring they are sustainable and aligned with company policies.
- Conduct thorough investigations into reasons for delinquency and assess clients' capacity for repayment.
- Maintain accurate and detailed records of all communication and actions taken on client accounts.
- Prepare regular reports on recovery activities, progress, and challenges.
- Collaborate with other departments, including loan officers and branch managers, to develop and implement effective recovery strategies.
- Adhere strictly to all internal policies, ethical guidelines, and regulatory requirements pertaining to debt recovery.
- Provide financial advice and guidance to clients where appropriate, helping them manage their finances better to avoid future defaults.
- Represent the bank professionally and respectfully in all interactions with clients and external stakeholders.
- Escalate complex or unresolvable cases to senior management for further review and action.
- Participate in training and development programs to enhance recovery skills and knowledge of microfinance best practices.
Required Skills
- Excellent communication and interpersonal skills, both verbal and written.
- Strong negotiation and persuasion abilities with a client-centric approach.
- Proven analytical and problem-solving skills to identify root causes of delinquency.
- Ability to work independently and as part of a team in a fast-paced environment.
- High level of integrity, empathy, and professional ethics.
- Proficiency in basic computer applications (Microsoft Office Suite, especially Excel).
- Strong organizational skills and attention to detail for record-keeping.
- Ability to handle difficult conversations with tact and professionalism.
- Resilience and persistence in achieving recovery targets.
Preferred Qualifications
- A Bachelor's Degree or HND in Banking and Finance, Business Administration, Economics, or a related field.
- Previous experience (1-2 years) in loan recovery, debt collection, or customer service, preferably within the microfinance or banking sector.
- Familiarity with the local terrain and communities in Rumukalagbor, Port Harcourt.
- Proficiency in local languages spoken in Port Harcourt is an added advantage.
- Knowledge of microfinance operations and principles.
Perks & Benefits
- Competitive salary package commensurate with experience.
- Comprehensive health insurance scheme.
- Opportunities for professional growth and career advancement within a leading MfB.
- Structured training and development programs.
- Transport allowance for field activities.
- A supportive and collaborative work environment.
- Opportunity to make a significant social impact by contributing to financial inclusion.
How to Apply
Interested and qualified candidates are encouraged to apply by clicking on the application link below. Please ensure your resume is updated and highlights your relevant experience and skills. We look forward to reviewing your application and potentially welcoming you to the LAPO family.