Collection & Remedial Officer
1 week ago
**The Job Description**:
The Remedial Officer is responsible for assisting the Group Credit Control Manager in supervising the activities and operations in the collection department to ensure that all collectors follow the procedures, laws and regulations to collect the payments efficiently, devise and implement remedial strategies, minimise probable losses, carry out and monitor remedial action on credits perceived to be under financial difficulty, ensuring that these do not graduate to a default situation, investigate credit issues and suggests payment options be approved. He / She will be responsible for repacking / restructuring the company’s non-performing accounts including reducing, recovering and foreclosing assets and equipment.
**Responsibilities**:
- Recommend restructuring, repacking or repayment plan on past due and non-performing accounts.
- Negotiates and prepares letters to creditors on repayment or compromise proposals.
- Evaluate the profile of all credit customers and the (default) circumstances of the same to determine alternative options other than filing a legal case.
- Conduct a documentary review of accounts endorsed for remedial action to facilitate the completion of noted documentary deficiencies.
- Conduct due diligence work in coordination with the Group Credit Analyst such as, but not limited to, office visits, financial analysis, credit analysis, projections, and credit checking / asset search to aid in the determination of the appropriate recovery strategy.
- Monitor credit customers under litigation through regular communication with Legal Department to determine the status and action plan.
- Endorse accounts to the Legal Department for appropriate filing of legal action.
- Recommend write-off of managed accounts and/or review write-off recommendations based on the company’s policies and guidelines.
- Review credit customers in litigation recommended for delisting by Legal Department using a cost-benefit approach to determine whether the company should already cease legal action.
- Evaluate the sale of debt to interested agencies by considering recovery probability vis-a-vis impact on the company’s bottom line to maximize the collection of the company’s exposure.
**Requirements**:
**Education**:
- College Degree preferably a graduate of Accounts, Economics, or Business.
**Experience**:
- With at least 4 years of Accounting Services
- Previous knowledge and experience is an advantage
Knowledge/Skills:
- Relevant experience in credit, loans and rental services
- Sufficient general knowledge in law, regulations, and remedial processes with competent authorities (where applicable)
- Proficient in oral and written communication, particularly in report writing
- Good customer relationship
- Can work independently and with minimum supervision
**English Level**:
- Excellent communication skills in both written and spoken English
**Job Types**: Full-time, Contract
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