Loan Officer

A recovery officer (JLG) in the microfinance industry is responsible for managing the recovery process of loans disbursed to Joint Liability Groups (JLGs).

Key Responsibilities:

• Ensure timely repayment of loans by monitoring repayment schedules and collecting payments from Joint Liability Groups (JLGs).
• Establish effective communication channels with JLG members, discussing loan repayment terms and providing financial management education and counseling.
• Maintain accurate records of loan repayments, defaults, and relevant information, updating databases or software systems.
• Take appropriate actions to recover outstanding loan amounts in case of defaults, such as contacting guarantors, conducting field visits, or negotiating repayment plans.