The Loan & Recovery Officer is responsible for sourcing loan proposals, verifying customer documents, coordinating loan disbursement, and ensuring timely recovery of dues. The role focuses on maintaining portfolio quality, minimizing NPAs, and building strong relationships with members.
Key Responsibilities
Loan Processing
Source and promote loan products (Personal Loan, Gold Loan, Vehicle Loan, Business Loan, etc.) as per society norms.
Guide members on loan eligibility, documentation, interest rates, and repayment terms.
Collect and verify KYC, income proof, collateral/security documents.
Conduct field visits for customer residence/business verification.
Prepare loan appraisal notes and coordinate with credit committee/manager for approval.
Ensure accurate data entry in the loan management system.
Disbursement & Documentation
Coordinate timely loan disbursement after approval.
Ensure proper execution of loan agreements, hypothecation/pledge documents, and guarantor forms.
Maintain complete and compliant loan files as per audit requirements.
Recovery & Collections
Monitor daily/weekly EMI schedules and overdue reports.
Follow up with members for timely repayment via calls, visits, and reminders.
Handle overdue, delinquent, and NPA accounts with structured recovery plans.
ustomer Service & Coordination
Build strong relationships with members and local influencers.
Coordinate with branch staff for cross-selling and recovery support.
Resolve member queries and complaints related to loans and recovery.
Eligibility & Skills
Education
Graduate in Commerce/Management/Finance (Preferred)
Experience
1-3 years of experience in loan processing and recovery (Bank/NBFC/Cooperative preferred)
Skills & Competencies
Knowledge of loan products and recovery processes
Strong field work capability and local area knowledge