Job Opportunity
Loan Recovery Officer Tumaini SACCOS is a member-based financial institution registered under the Cooperative Society Act, with the main objective of mobilizing savings and advancing loans to members in accordance with the SACCOS Loan policy. Tumaini SACCOS based in Arusha is seeking to recruit a suitably qualified candidate for the following vacant position.
Title: Loan Recovery Officer Reports to: SACCOS Manager
1. General Responsibility Managing non-performing loan portfolios by contacting delinquent borrowers, negotiating repayment plans, conducting field visits and initiating legal action or asset repossession when necessary to recover outstanding debts.
2. Key Performance Indicators
- 2.1 Minimum recovery rate of 20-30% per annum for older debts.
- 2.2 Minimum recovery rate of 80-90% for fresh debts.
Key Responsibilities
- Actively pursue outstanding loans, interest, and penalties through phone calls, letters, and site visits.
- Negotiate tailored repayment plans with borrowers based on their financial capacity and, when necessary, advise on debt restructuring.
- Conduct site visits to borrowers and, when authorized, manage the repossession of collateral assets.
- Maintain detailed records of recovery progress and provide weekly reports on client communications against targets.
- Ensure all recovery actions adhere to company policies, legal requirements, and ethical standards.
- Work with legal counsel or authorities to initiate legal proceedings for stubborn or chronic defaults.
- Perform any other duties as may be assigned by his/her supervisor.
Required Qualifications & Skills
- Education: A Bachelor’s degree in Banking, Finance, Accounting, Business Administration, ICT in business management or a related field.
- Experience: Minimum of 1-5 years of experience in debt collection, credit analysis, or banking.
- Skills: Strong negotiation, communication, conflict resolution, and interpersonal skills are crucial.
- Knowledge: Understanding of debt recovery legal procedures, credit risk management, and local relevant laws.
- Traits: Ability to work under pressure, meet strict targets, and maintain high ethical standards.
- ICT knowledge will be an added advantage.
All interested candidates are required to address their application letters and CVs to:
Vice Chairperson, Tumaini SACCOS Limited, Box 805, Arusha.
OR
Send your application via email address: Esther_Malulu@wvi.org
Applications should be received not later than 31st March 2026, official hours.
