Recovery Officer
Job Role : Recovery Officer in a cooperative bank is responsible for managing and recovering overdue loan accounts while maintaining positive relationships with members and borrowers. The role involves monitoring non-performing assets (NPAs), following up with defaulters, negotiating repayment plans, initiating legal recovery procedures when necessary, and ensuring compliance with banking regulations and internal policies. The Recovery Officer works closely with branch managers, legal teams, and field staff to minimize financial losses and improve the bank’s asset quality.
Key Responsibilities :
- Monitor overdue loan accounts and identify delinquent borrowers.
- Contact customers through calls, visits, and written communication for recovery.
- Negotiate repayment plans and settlements.
- Prepare and issue demand notices as per bank policy.
- Initiate legal action for recovery in coordination with legal department.
- Maintain accurate records of recovery actions and follow-ups.
- Prepare recovery reports and NPA status statements.
- Ensure compliance with banking regulations and recovery procedures.
- Support branch team in achieving recovery targets.
- Number Of Openings: -5
- Monthly Income: Depends On Skills & Experience
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- Name of firm: Lokmangal Co-operative Bank Ltd. Solapur
- Other Skill Required: Strong knowledge of banking and loan recovery procedures. Understanding of NPA management and legal recovery processes. Good negotiation and persuasion skills. Strong communication and interpersonal abilities. Ability to handle difficult situations professionally. Basic knowledge of banking software and MS Office. Attention to detail and documentation skills. Fieldwork readiness and target-oriented approach.