Job Summary

The Remedial Officer is responsible for managing accounts that have been identified as distressed or at high risk of default. They are also responsible for repackaging/restructuring the Company’s non-performing accounts including reducing, recovery and foreclosure of assets.

Job Responsibilities

• Assess and manage distressed loans to determine the optimal recovery strategy.
• Negotiate with clients to restructure debts or establish new payment arrangements.
• Collaborate with internal teams to assess the financial situation of clients and propose solutions.
• Monitor the progress of remedial accounts and adjust strategies as necessary.
• Prepare reports on the status and recovery efforts of high-risk accounts for senior management.
• Negotiate an acceptable repayment/settlement plan with the borrower, principals, and in other cases, creditors based on the borrower’s financial capacity, assets, and projected financial performance for the orderly liquidation of the obligations to the Bank
• Implement approved courses of action by both internal and external policies to commence recovery on the account
• Formulate strategies to be pursued by ascertaining key success factors and impediments to the recovery of the company’s exposure
• Evaluate the profile of every borrower and the (default) circumstances of the same to determine alternative options other than filing a legal case
• Conduct a documentary review of accounts endorsed for remedial action to facilitate the completion of noted documentary deficiencies
• Conduct due diligence work on credits such as, but not limited to, plant/office visits, financial analysis, credit analysis, projections, and credit checkings/asset search to aid in the determination of the appropriate recovery strategy

Job Requirements:

• Experience in debt recovery, credit risk management, or a similar role in the financial services industry.
• Bachelor’s Degree in any field
• At least 1 year of corporate remedial management in Banking or Leasing/Financing Institutions
• Knowledge of credit evaluation, remedial management, and recovery strategies for corporate accounts; Knowledge of basic Microsoft applications
• Strong negotiation and problem-solving skills.
• Understanding of the legal implications of loan defaults and recovery strategies.
• Excellent communication skills, with the ability to handle sensitive situations diplomatically.