Corporate Loan Collection Officer Job Description

November 26, 20110 Comments

Corporate Loan Collection Officer Job Profile and Description

The corporate loan officers have the main responsibility of the loan collection. They also have the duty to contact the borrowers with maturing and delinquent loan accounts when assigned in the large banks. The officer has to explore the way to avoid defaulting on the loans with the bank ready to help by restructuring. The main objective is to collect the loans. The loan collection officer has to start collateral liquidation procedures in coordination with the bank’s legal department when the plans are not being developed.

Duties and Responsibilities

There are the following duties and responsibilities of a Corporate Loan Collection Officer which are expected to be fulfilled:

  • The officer has the duty to assist the Corporate Accounts Manager in restructuring defaulted loans.
  • It will be needed to work as an administrator for cooperating, the industrial and commercial loan products.
  • He or she has to evaluate the corporate loan restructuring to present to the higher management.
  • It is needed to present the recommendation of payment to higher management for approval.
  • He or she has to make sure that the loan collection policies and procedures are in compliance of the established guidelines.
  • It is needed to maintain the coordination with the bank and other legal departments for collection efforts.
  • The officer has to review the valuation of collaterals and initiate liquidation proceeding.
  • He or she needs to oversee for the attachment of collaterals and their disposal properly.

Skills and Specifications

The required skills and specifications are as follows:

·       He or she must be hard working and willing to work within a flexible schedule ands set deadlines.

  • The person needs to have exceptional communication skills with interpersonal skills.
  • The person must exhibit strong interpersonal skills to establish and maintain the effective working relationships.
  • The person needs to have exceptional communication skills in English and excellent command of the English language in oral and written form.
  • The other required qualities of a person are the strong self-confidence, courtesy, firmness and negotiating skills to deal with a client.
  • The person must possess the strong knowledge of state and federal laws on loans and debt settlement to do the job.

Education and Qualifications

  • The basic degree required at the minimum of the position is a college degree in a business field with a strong bias in Banking, Financial Management and Business Administration.
  • It will be an added advantage for the person having a degree in law with major in commercial law along with an advanced degree in business management and banking and finance.

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