Recoveries Officer in Lagos, Nigeria

at Stanbic IBTC Bank

Banking / Financial Services
Financial Services
Minimum Qualification
Bachelor's Degree
Required Experience
3 - 5 years
Employment Type
Full Time
Male or Female
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Job Description

Effective management of recoveries on 180dpd & written off accounts in line with specialised recoveries strategies and after write-off strategies.
• Manage external agencies in line with approved SLAs.
• Action incoming correspondence within agreed timelines.
• Issue repossession orders as advised by relevant stakeholders.
• Maintain an accurate register of all repossessed items.
• Keep accurate records and control movement of files between the Bank and external agencies.
• Ensure written off accounts are blacklisted on all credit bureaux.
• Coordinate the asset disposal process end to end.
• Ensure file closure of irrecoverable accounts in line with approved processes.
• Ensure compliance with statutory, regulatory and SBG requirements, to protect the reputation of the Group and to avoid legal action/sanction in respect of regulatory compliance matters.


• Recoveries metrics as agreed in KRAs.
• Collections rate on NPL book as agreed in KRAs.
• NPL not to exceed 10% of total book.
• Accurate capture and follow up of payment plans.
• Monthly stock checks.
• Monthly reporting on all recovery activities (in-house & outsourced).
• Incoming correspondence actioned within 48 hours.
• Annual review of closed files.

Important relationships

• Internal:
Develop and maintain working relationships with all internal stakeholders.

• External:
Excellent customer service.
Manage and maintain relationships with external agencies to achieve desired results.

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