Loan Recovery Officer

Organization: Tumaini SACCOS Limited
Location: Arusha

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About the Organization

Tumaini SACCOS Limited is a member-based financial institution registered under the Cooperative Societies Act.

The organization focuses on:

• Mobilizing member savings
• Providing loans to members in accordance with the SACCOS Loan Policy
• Promoting financial inclusion and responsible lending

Tumaini SACCOS is seeking a qualified and motivated candidate to fill the position of Loan Recovery Officer.

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Position Details

Job Title: Loan Recovery Officer
Reports To: SACCOS Manager

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General Responsibility

The Loan Recovery Officer will be responsible for managing non-performing loan portfolios by:

• Contacting delinquent borrowers
• Negotiating repayment arrangements
• Conducting field visits
• Initiating legal action or collateral repossession when necessary

The role aims to ensure efficient recovery of outstanding loans and protection of the institution’s financial stability.

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Key Performance Indicators (KPIs)

The officer will be evaluated based on the following targets:

• 20–30% recovery rate per year for older debts
• 80–90% recovery rate for newly defaulted debts

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Key Responsibilities

• Actively pursue outstanding loans, interest, and penalties through phone calls, letters, and site visits.
• Negotiate customized repayment plans based on borrowers’ financial capacity.
• Provide advice on loan restructuring where necessary.
• Conduct site visits to borrowers and manage collateral repossession when authorized.
• Maintain accurate records of recovery activities and prepare weekly progress reports.
• Ensure all recovery activities comply with organizational policies, legal requirements, and ethical standards.
• Collaborate with legal counsel or authorities to initiate legal action for persistent defaulters.
• Perform any additional duties assigned by the supervisor.

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Required Qualifications and Skills

Education

Applicants must possess a Bachelor’s Degree in one of the following fields:

• Banking
• Finance
• Accounting
• Business Administration
• ICT in Business Management
• Or another related field

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Work Experience

• 1–5 years of experience in:
  • Debt collection
  • Credit analysis
  • Banking or financial services

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Required Skills

• Strong negotiation and persuasion skills
• Excellent communication and interpersonal abilities
• Conflict resolution skills
• Ability to work under pressure and meet strict targets
• Strong ethical standards and professionalism

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Knowledge Requirements

• Understanding of:
  • Debt recovery legal procedures
  • Credit risk management
  • Relevant local financial regulations

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Additional Advantage

• Knowledge of ICT systems and digital tools used in financial services.

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Application Procedure

Interested candidates should submit the following:

• Application Letter
• Curriculum Vitae (CV)

Address applications to:

Vice Chairperson
Tumaini SACCOS Limited
P.O. Box 805
Arusha

Alternatively, applications can be submitted via email:

📧 Esther_Malulu@wvi.org

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Application Deadline

Applications must be submitted no later than 31 March 2026 during official working hours.

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