Details

Salary and Benefits

MVR 15,500 - MVR 16,400

Job Description

Post:                        Recovery Officer   

Vacancies:          02                   

Post Type:            Permanent

Department:       Finance Department

Reporting to:      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.

 

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. 
• 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-officer2 before 08^th April 2025, 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 13:00pm via 1613 or email to  [email protected].

Requirements and Qualifications

Minimum Experience

Not Specified