Collections & Recoveries Officer

Job description

LOLC Finance Zambia Limited is a registered Deposit taking Non-Bank Financial Institution with a Housing Finance License. The Company currently operates from thirteen locations, namely Head Office in Lusaka, Main Branch in Central Lusaka, Kitwe, Solwezi, Chingola, Ndola, Kalumbila, Kabwe, Chipata, Mansa, Choma, Livingstone, Kasama and Mongu.

LOLC Finance Zambia Limited is a subsidiary of LOLC Holdings Plc which is the largest diversified and most profitable Group in Sri Lanka and is listed on the Colombo Stock Exchange. The Group has a presence in over twenty-five countries worldwide including nine countries in Africa.

To support the LOLC Finance Zambia vision, we are recruiting qualified and experienced individuals for the following position:

1.     COLLECTIONS & RECOVERIES OFFICER (x3) – LUSAKA & KITWE

The overall objective of this role is to identify, evaluate and monitor non-performing loan accounts and implement a recovery action plan to achieve timely and maximum recovery at minimal cost and appropriate turn-around time.

Job Responsibilities;

Monitor delinquent loan facilities to determine reasons for delinquency by application of sound credit judgment, collections strategy and process within pre-determined credit policy guidelines and regulation.
Prepare and submit loan ageing analysis, schedule related reports of overdue accounts and repayment for all credit facilities and follow up with defaulted borrowers on recoverability of outstanding arrears or loan balance;
Develop appropriate and effective payment plans with defaulting clients by making sure that such clients pay according to plan;
Identify root causes of defaults and make recommendations for process improvement as and when appropriate;
Initiate demand and reminder letters to all defaulting customers and review all credit files for proper documentation and monitoring;
Maintain and prepare weekly and monthly collections reports, updates and status on the recoveries to the Supervisor;
Undertake regular and frequent calls, site visits, and follow-ups with defaulters to implement remedial strategies and action plans for loan recovery;
Pass on difficult debtors at appropriate time to legal department;
Maintain a consistent reduction of non-performing debts through aggressive recoveries and viable restructuring options
Ensure compliance to LOLCFZ’s Credit Policy and Procedures regarding management of debt recovery process;
Assumes any other responsibilities assigned.

Qualifications

Certified grade 12 certificate with a minimum of Credits in English and Mathematics
Diploma or Degree in a business related Course
At least 2 years of experience in a financial institution with exposure to credit and debt collection functions.
Background in a NBFI/Microfinance Institution will be an added advantage
Demonstrate a clear understanding of recovery processes with sound understanding of credit life cycle and debt recovery process/technique
Strong analytical skills and Investigative skills to ensure all loan repayments

Please clearly indicate the job title in the subject of your email and use your full name and the job you are applying for as the filename of your application for example, Sales Consultant_Alex_Banda. Applications should consist of your CV and Academic Qualifications. Hand delivered or posted applications will not be accepted. The closing date for accepting applications is 29 April, 2025. Only short listed candidates will be contacted.

Kindly submit your details to hr@lolczambia.com