Recovery Officer
Doha Bank
Total years of experience :7 years, 4 Months
• Meeting with clients and resolving their cases by displaying effective negotiation skills and credit perspective, and ensuring more clients are persuaded for clearing their outstanding dues and amount written-off is minimized.
• Ensuring daily/weekly productivity targets are met and providing regular feedback.
• Analyzing problems and ensuring of resolving them with adequate solutions.
• Documenting concerns of the clients and providing guidance to the dissatisfied and confused.
• Performing all activities, as assigned by the Team Leader/Section Head, in compliance with regulatory guidelines, internal policies and procedures.
• Keeping regular track of assigned delinquent portfolio of advances and follow-up with the clients over telephone and by personal meetings.
• Scrutinizing assigned case documents and identifying discrepancies and assisting in formulating strategy based upon strength and weakness of each case.
• Collecting Bank's dues from the clients in accordance with the agreed repayment schedules as per the approval and monitoring regularly on the performance of their portfolios.
• Issuing of letters/emails/SMS to defaulting borrowers on the status of their delinquencies.
• Conferring with the clients to determine the reasons for their overdue payments and to review the terms of sales, service, or credit contracts.
• Lodging the cheques obtained for the payment of monthly loan installments and notifying the clients to settle the returned cheques, if any.
• Tracking and contacting the clients and their guarantors, as applicable, to negotiate on the settlement and/or adjustments to their loans and issuing warning letters if failing to agree the terms with the Bank and recommending involvement of the Police Department for following-up the matter.
• Promptly recording follow-up actions and recovery progress in Indus collection system module.
• Studying the case file of delinquent borrowers assigned by the Team Leader/Section Head and accordingly preparing the history sheet.
• Collecting the information on financial means and indebtedness of the clients to work out a realistic settlement plan.
• Finding out whereabouts of the defaulters and their guarantors through Government Departments and other external sources.
• Negotiating a workable plan in line with the Bank's policy and completing the documentation formalities within minimum possible time to affect the new rescheduled terms into the bank's system through the Credit Administration department.
• Recovering the installments from the guarantor's account in case the borrower's salary falls short.
• Drafting the settlement/rescheduling proposal as agreed with the client and obtaining the management approval based on the standard terms and conditions of the Bank.
• Coordinating with Corporate/Credit Administration and ensuring repayment arrangements made with the borrowers are affective after obtaining required documents as per the agreements.
• Identifying unresolved accounts and escalating them to the Team Leader for transferring them to the Legal Department for pursuing course of action by preparation of legal memo with the history of follow-up actions undertaken.
• Performing regular check and report on the value of collaterals held against liability accounts.
• Coordinating with the Government agencies and/or employing companies for releasing the end of service benefits of the resigned/terminated employees for settlement of their liability accounts.
• Verifying the credit balance report on a daily basis and identifying the accounts with credit, and appropriate them to the respective liability account.
• Attending to enquiries of Legal Experts appointed by the Courts of Law regarding delinquent cases under litigation in coordination with the Legal Department.
• Identifying potential issues or concerns regarding potential fraud/misrepresentation and escalating it to the Team Leader/Section Head/Loan Risk & Recovery Department, depending on its severity.