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Field Officer - Recovery

Banking, Financial Services and Insurance | Microfinance Executive

15,000 - 25,000 p.m | HSC | Chennai

Porur & Guduvanchery

Gender : Male | Age Limit - 25-35 | Openings - 3 | Experience - 1-2 Years
Virutcham MicroFinance Ltd
Posted Jobs Count : 2
Posted Date: 13-12-2023
Open Until : 31-12-2023
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Description

JOB DESCRIPTION

Position: Recovery Officer

Reporting to: Branch Manager

A recovery officer (JLG) in the microfinance industry is responsible for managing the recovery process of loans disbursed to Joint Liability Groups (JLGs). The job description of a recovery officer (JLG) in the microfinance industry typically includes the following responsibilities:

Key Responsibilities:

  • Ensure timely repayment of loans by monitoring repayment schedules and collecting payments from Joint Liability Groups (JLGs).
  • Establish effective communication channels with JLG members, discussing loan repayment terms and providing financial management education and counseling.
  • Maintain accurate records of loan repayments, defaults, and relevant information, updating databases or software systems.
  • Take appropriate actions to recover outstanding loan amounts in case of defaults, such as contacting guarantors, conducting field visits, or negotiating repayment plans.
  • Assess creditworthiness and repayment capacity of JLGs before approving loans through financial statement analysis and on-site visits.
  • Identify potential risks and propose mitigation measures to minimize loan defaults.
  • Prepare regular reports on loan recovery activities, including repayment status, outstanding balances, and significant issues or trends.
  • Share reports with senior management to provide insights into loan portfolio performance and support decision-making.
  • Provide excellent customer service by addressing borrower queries, concerns, and complaints promptly.
  • Maintain positive relationships with JLG members to ensure a positive loan recovery experience.

Qualifications and Skills:

  • 12th / ITI/ Diploma / Any Degree holders.
  • Min. 2 years experience microfinance (JLG) as a Recovery Officer highly desirable.

  • Two Wheeler, Driving License Must.

    Salary: From ₹16,000.00 per month & Based on Experience.

    Other Benefits: ESI / PF / Travel Allowance / Mobile Allowance/ Incentive / Bonus  

Skills

  • Collections Executive

Additional Skills


Two Wheeler, Driving License Must.

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