Recovery Officer

Recovery Officer

  • by Susmita Shinde
  • Nagpur
  • 2 weeks ago
  • 12 views

Job Role :  Recovery Officer is responsible for managing and recovering overdue loans and advances while maintaining a professional relationship with borrowers. The role involves tracking delinquent accounts, contacting defaulters, negotiating repayment plans, and coordinating legal actions when necessary. The Recovery Officer works closely with the credit and accounts team to minimize non-performing assets (NPAs) and ensure the financial stability of the bank. This position requires strong communication, negotiation, and analytical skills, along with knowledge of banking laws and recovery procedures.

Key Responsibilities : 

  • Monitor and follow up on overdue loans and advances.
  • Contact borrowers to discuss repayment schedules and negotiate settlements.
  • Maintain accurate records of recovery activities and communication with clients.
  • Coordinate with the credit and accounts team to identify defaulters.
  • Assist in the preparation of legal notices and coordinate with legal authorities for recovery.
  • Visit borrower premises when required to assess repayment capacity.
  • Advise management on recovery strategies and risk mitigation.
  • Prepare regular recovery reports for management review.
  • Maintain compliance with banking regulations and cooperative society policies.
  • Support the bank in minimizing non-performing assets (NPAs).
  • Provide customer service while managing recovery professionally and ethically.

Overview

  • Number Of Openings: -5
  • Monthly Income: Depends On Skills & Experience
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  • Name of firm: Tirupati Balaji Sahakari Pat Sanstha
  • Other Skill Required: Strong knowledge of banking operations, credit, and loan recovery processes. Knowledge of cooperative banking rules, laws, and legal recovery procedures. Excellent communication, negotiation, and persuasion skills. Analytical and problem-solving abilities. Attention to detail and strong record-keeping skills. Ability to work independently and manage multiple accounts. Professionalism and integrity in dealing with borrowers. Ability to handle difficult conversations and resolve conflicts. Good time management and organizational skills. Familiarity with banking software and MS Office tools.