Recovery Officer

3 days ago

Lahore, Punjab, Pakistan Management and Business Excellence Consultancy Full time 600,000 - 1,200,000 per year

Job Title:
 Recovery Officer

One of our prestigious clients is looking for recovery officer kitchen manufacturing company in Lahore Pakistan.

The position is Lahore based with a competitive salary package.

Job Summary:

The Recovery Officer is responsible for managing and recovering outstanding debts from clients or customers. This role involves negotiating payment plans, maintaining accurate records, and ensuring compliance with legal and regulatory requirements. The Recovery Officer will work closely with clients, internal teams, and external agencies to achieve recovery targets.

Key Responsibilities:

Debt Recovery:

  • Contact debtors via phone, email, and written correspondence to negotiate and secure payment of outstanding debts.
  • Develop and implement effective recovery strategies to minimize bad debt and improve cash flow.

Customer Communication:

  • Maintain professional and empathetic communication with debtors to understand their financial situations and negotiate feasible repayment plans.
  • Provide clear and accurate information regarding outstanding balances, payment options, and consequences of non-payment.

Record Keeping:

  • Maintain detailed and accurate records of all communication and transactions with debtors.
  • Update and manage debtor accounts in the company's database or recovery software.

Compliance:

  • Ensure all recovery activities comply with relevant laws, regulations, and company policies.
  • Stay updated on changes in legislation related to debt recovery and adjust practices accordingly.

Reporting:

  • Prepare and submit regular reports on recovery activities, progress, and outcomes to management.
  • Analyze recovery data to identify trends, challenges, and opportunities for improvement.

Negotiation and Mediation:

  • Negotiate payment arrangements and settlements with debtors to recover outstanding amounts.
  • Mediate disputes between the company and debtors to reach amicable resolutions.

Legal Action:

  • Initiate and oversee legal actions, such as filing claims or engaging collection agencies, when necessary.
  • Coordinate with legal teams and external agencies to ensure effective recovery processes.

Customer Service:

  • Provide excellent customer service by addressing debtor inquiries and concerns promptly and professionally.
  • Educate debtors on the importance of timely payments and the impact of delinquency on their credit.

Target Achievement:

  • Work towards achieving and exceeding monthly, quarterly, and annual recovery targets.
  • Monitor and track recovery performance metrics to ensure goals are met.

Qualifications:

  • Education:
  • Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
  • Experience:
  • 2 to 5 Yeras Proven experience in debt recovery, collections, or a similar role. Banking and Legal experience will be a plus

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