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Terms of Reference (Tor) Post: Vacancies: 1 Post Type: Full Time Reporting To: Finance Manager

This document contains a terms of reference for the position of Recovery Officer at a finance corporation. The Recovery Officer will be responsible for developing and implementing recovery strategies, monitoring high risk accounts, issuing bills and letters to customers, conducting inspections of collateral, preparing reports on recovery and delinquency levels, and assisting in negotiations and litigation. Requirements for the role include a business/finance qualification, experience in debt collection, strong analytical skills, and proficiency in Microsoft Office. The position is full time and reports to the Finance Manager.

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Mohamed Lammah
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66 views2 pages

Terms of Reference (Tor) Post: Vacancies: 1 Post Type: Full Time Reporting To: Finance Manager

This document contains a terms of reference for the position of Recovery Officer at a finance corporation. The Recovery Officer will be responsible for developing and implementing recovery strategies, monitoring high risk accounts, issuing bills and letters to customers, conducting inspections of collateral, preparing reports on recovery and delinquency levels, and assisting in negotiations and litigation. Requirements for the role include a business/finance qualification, experience in debt collection, strong analytical skills, and proficiency in Microsoft Office. The position is full time and reports to the Finance Manager.

Uploaded by

Mohamed Lammah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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M.

Kaneeru Villa, 02nd Floor


Orchid Magu, Male’ 20212
Republic of Maldives
Phone: +960 3306999
Email: info@sdfc.mv

TERMS OF REFERENCE (TOR)

Post: Recovery Officer


Vacancies: 1
Post Type: Full time
Reporting to: Finance Manager

Key Tasks, Responsibilities and Deliverables:


• Assisting in developing and implementing a comprehensive recovery strategy in
line with the Corporation’s recovery policies.
• Assist Line Manager in achieving periodic recovery objectives, to reduce, upgrade
the number and volume non-performing portfolio and to maintain non-
performing asset ratio within acceptable rates or policy requirement.
• Identifying, assessing, and evaluating risk areas in recovery and making
appropriate recommendation for improved collections.
• Closely monitor and pursue recovery on high risk, high balance delinquent
accounts likely to have a significant impact on delinquency ratios and provision
requirements.
• Identifying key risks that are associated with collaterals, assessing those risks, and
establishing the best practices to counter and ensure effective collections.
• Issue monthly bills to customers for repayment.
• Issue direct debit requests to bank for customers with standing orders with the
Corporation.
• Initiate reminder and demand letters to all defaulting customers.
• Conduct collateral inspections of all NPA /delinquent accounts as per
Corporation’s Collateral Policy/Recoveries Procedure and maintain up to date
records.
• Preparing accurate and timely monthly reports, indicating recovery and
delinquency levels.
• Compile statistics and reports for management review.
• Assist in classification and declassification of customer accounts based on
repayment history as per regulatory requirements and recovery
procedures/policy.
• Liaise with credit department in negotiations/meetings with customers for
refinancing, rescheduling, and restructuring of overdue loans.
M. Kaneeru Villa, 02nd Floor
Orchid Magu, Male’ 20212
Republic of Maldives
Phone: +960 3306999
Email: info@sdfc.mv

• Liaise with legal department to issue notices and assist with providing essential
information for litigation cases.
• Providing necessary documentation required for the sale of securities and
recovery of debt after other remedial strategies have been exhausted.
• Follow policies & procedures of the corporation and take actions in accordance
with, and as required by Recovery Procedure.
• Ensuring adherence to policies and guidelines and regulatory requirements and
ensuring high standards of integrity and ethics in all recovery activities.
• Perform any other duties as assigned from time to time.

Requirements:
• MQA level 7 qualification in Business/Finance/Economics with 4 years’
experience in related field.
• Proficient user of MS Office software package.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent interpersonal, presentation and communication skills.
• Experience in debt collection will be an added advantage.

Remuneration Package:
• Gross pay between MVR 14,000 – MVR 15,500 depending on the qualification and
Experience.

Working Hours:
• The selected applicant will be required to work from 0800 to 1600 on weekdays.

Applications, together with (CV/resume, supported by nonrelated referees should be


submitted using the link: https://sdfcmv.aidaform.com/job-application-form-recovery-officer
before 10th November 2020, 14:00hours. Only short-listed candidates will be notified.

……………………………………………

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