Recovery Officer

7 hours ago

Kundrathur Chennai Tamil Nadu, India Virutcham Microfinance Limited Full time

**Position: Recovery Officer**

**Reporting to: Branch Manager**

A recovery officer (JLG) in the microfinance industry is responsible for managing the recovery process of loans disbursed to Joint Liability Groups (JLGs). The job description of a recovery officer (JLG) in the microfinance industry typically includes the following responsibilities:
**Key Responsibilities**:

- Ensure timely repayment of loans by monitoring repayment schedules and collecting payments from Joint Liability Groups (JLGs).
- Establish effective communication channels with JLG members, discussing loan repayment terms and providing financial management education and counseling.
- Maintain accurate records of loan repayments, defaults, and relevant information, updating databases or software systems.
- Take appropriate actions to recover outstanding loan amounts in case of defaults, such as contacting guarantors, conducting field visits, or negotiating repayment plans.
- Assess creditworthiness and repayment capacity of JLGs before approving loans through financial statement analysis and on-site visits.
- Identify potential risks and propose mitigation measures to minimize loan defaults.
- Prepare regular reports on loan recovery activities, including repayment status, outstanding balances, and significant issues or trends.
- Share reports with senior management to provide insights into loan portfolio performance and support decision-making.
- Provide excellent customer service by addressing borrower queries, concerns, and complaints promptly.
- Maintain positive relationships with JLG members to ensure a positive loan recovery experience.

**Qualifications and Skills**:

- 12th / ITI/ Diploma / Any Degree holders.
- Min. 2 years experience microfinance (JLG) as a Recovery Officer highly desirable.
- Familiarity with regulatory requirements and compliance frameworks in the microfinance industry.

Working Timing : Morning 8.30 Am - 5:30 PM

Two Wheeler, Driving License Must.

**Salary**: From ₹15,000.00 per month

Ability to commute/relocate:

- Kundrathur, Chennai, Tamil Nadu: Reliably commute or planning to relocate before starting work (required)

**Experience**:

- total work: 2 years (preferred)

**Speak with the employer**
+91 8825862116

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