Details

Salary and Benefits

MVR 14,500 - MVR 15,500

Job Description

TERMS OF REFERENCE (TOR)

 Post: Recovery Officer

No of Vacancies: 03                 

Post Type: Full time

Department: Finance Department          

Reporting to: Deputy Manager – Recovery      

Key Tasks, Responsibilities, and Deliverables:  

• Assisting in developing and implementing a comprehensive recovery strategy in line with the Corporation’s recovery policies.
• Assist Line Manager in achieving periodic recovery objectives, to reduce and upgrade the number and volume of non-performing portfolio and to maintain non-performing asset ratio within acceptable rates or policy requirement.
• Identifying, assessing, and evaluating risk areas in recovery and making appropriate recommendations for improved collections.
• Closely monitor and pursue recovery on high-risk, high-balance delinquent accounts likely to have a significant impact on delinquency ratios and provision requirements.
• Identifying key risks that are associated with collaterals, assessing those risks, and establishing the best practices to counter and ensure effective collections.
• Issue monthly bills to customers for repayment.
• Issue direct debit requests to banks for customers with standing orders with the Corporation.
• Initiate reminders and demand letters to all defaulting customers.
• Conduct collateral inspections of all NPA /delinquent accounts as per Corporation’s Collateral Policy/Recoveries Procedure and maintain up-to-date records.
• Preparing accurate and timely monthly reports, indicating recovery and delinquency levels.
• Compile statistics and reports for management review.
• Assist in the classification and declassification of customer accounts based on repayment history as per regulatory requirements and recovery procedures/policy.
• Liaise with the credit department in negotiations/meetings with customers for refinancing, rescheduling, and restructuring of overdue loans.
• Liaise with the legal department to issue notices and assist with providing essential information for litigation cases.
• Providing necessary documentation required for the sale of securities and recovery of debt after other remedial strategies have been exhausted.
• Follow the policies & procedures of the corporation and take actions in accordance with, and as required by Recovery Procedure.
• Ensuring adherence to policies and guidelines and regulatory requirements and ensuring high standards of integrity and ethics in all recovery activities.
• Provide support for ad hoc requests as required by the Management.

Requirements:

• MQA level 5 or 6 qualifications in Business/ Economics /Finance/Banking with a Minimum 01 year of experience in a relevant field.

Other Competencies required: 

• Excellent interpersonal and communication skills.
• Strong analytical, problem-solving, and decision-making skills. 
• Should be a proficient user of MS Office software packages (especially Microsoft Excel). 
• Should be able to independently draft letters, memos, etc. in Dhivehi and English. 
• Experience in the banking/financial sector will be an added advantage. 

 Remuneration Package:

• Gross pay between MVR 14,500 – MVR 15,500 depending on the Qualification and Experience.

Other benefits:  

• Health Insurance as per company policy.
• Training and development opportunities. 

Working Hours:

• The selected applicant will be required to work from 0800 to 1600 on weekdays.

Documents required with the job application:  

• Complete and up-to-date Curriculum Vitae (CV). 
• Copy of National Identity Card. 
• Copies of academic certificates with transcripts.(International certificates must be accredited by MQA).
• Reference letters from current/ previous employers certifying type of employment, job roles, and service period. 
• Recommendation letters from previous supervisors or employers (optional). 

 How to Apply:  

• Required documents should be submitted using the link: https://sdfcmv.aidaform.com/job-application-form-recovery-officer8 before 20^th July 2023, 14:00hours. 

Important notes to applicants:  

• Incomplete applications will be rejected without further notice.
• Applications should be submitted only via the given link, applications received via email will be rejected.
• Only short-listed candidates will be notified of the interview.

For inquiries, please contact us on weekdays between 9:00 am to 14:00pm via phone at 3026016 / 3026018 or email to [email protected] 

 

Requirements and Qualifications

Minimum Experience

Not Specified