Details

Salary and Benefits

MVR 15,500 - MVR 16,400

Job Description

TERMS OF REFERENCE (TOR)
Post: Recovery Officer
Vacancies: 02
Post Type: Permanent
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, upgrade the
number and volume 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
recommendation 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 bank for customers with standing orders with the
Corporation.
• Initiate reminder 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 classification and declassification of customer accounts based on repayment
history as per regulatory requirements and recovery procedures/policy.
• Liaise with credit department in negotiations/meetings with customers for
refinancing, rescheduling, and restructuring of overdue loans.
• Liaise with 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 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.
• Perform any other duties as assigned from time to time
Requirements and Qualifications:
• MQA level 5 or 6 qualifications of Business/ Economics /Finance/Banking with
Minimum 02- year experience in relevant field.
Other Competencies required:
• Strong analytical, problem-solving, and decision-making skills with the ability to
adapt to change.  
• Should be able to independently draft and type letters, internal memo’s etc. both in
Dhivehi and English Language.
• Familiarity with trade, economic development, and development of private sector in
the Maldives. 
• Experience in debt collection would be an added advantage
• Experience in the banking or financial services industry would be an added
advantage.
Remuneration Package:
• Gross pay between MVR 15,500-16,400 depending on the Qualification and
Experience.

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.
• All 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-officer3before 25th
June 2024, 14:00hours.
Important notes to applicants:
• Incomplete applications will not be accepted.
• Applications should be submitted only via the given link; applications will not be
accepted via email.
• Only short-listed candidates will be notified for the interview.
For inquiries, please contact us on weekdays between 9:00 am to 14:00pm via phone
3026016 / 3026018 or email to [email protected]

Requirements and Qualifications

Minimum Experience

Not Specified