As a Remedial Officer, you will manages distressed or non-performing accounts, primarily in banking and finance. Their goal is to recover loan exposures, minimize financial losses, and prevent potential defaults through restructuring, asset liquidation, or legal action.
Key Responsibilities
- Identify and monitor vulnerable, past-due, or distressed loans.
- Develop, negotiate, and implement repayment plans, loan restructuring, or workout arrangements.
- Prepare necessary documentation, execute affidavits, and coordinate with legal counsel for litigation or case filing when voluntary payments fail.
- Conduct due diligence on collateral, appraise assets, and manage acquired properties.
- Assess financial health, draft regular status reports, and ensure all recovery efforts strictly align with regulatory and risk management policies.
Qualifications
- Education: Bachelor's degree in Business Administration, Finance, Accountancy, Economics, or a related field.
- Experience: Usually requires 2-5 years of experience in corporate remedial management, credit evaluation, or loan collection.
- Skills: Strong negotiation and financial analysis skills, knowledge of litigation procedures, and keen attention to detail.
