Tumaini SACCOS Limited, a member-based financial institution registered under the Cooperative Society Act, is inviting applications from qualified and competent individuals for the position of Loan Recovery Officer. Tumaini SACCOS operates with the main objective of mobilizing savings and providing loans to its members in accordance with the institution’s loan policies. The SACCOS, based in Arusha, aims to strengthen its loan recovery operations by recruiting a dedicated and results-oriented professional.
Position Details
Job Title: Loan Recovery Officer
Reports To: SACCOS Manager
Duty Station: Arusha
General Responsibility
The Loan Recovery Officer will be responsible for managing non-performing loan portfolios by contacting delinquent borrowers, negotiating repayment plans, conducting field visits, and initiating legal actions or asset repossession when necessary to recover outstanding debts.
Key Performance Indicators
- Achieve a minimum recovery rate of 20–30% per annum for older debts.
- Achieve a 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 advise on debt restructuring when necessary.
- Conduct site visits to borrowers and, when authorized, manage the repossession of collateral assets.
- Maintain accurate and detailed records of recovery progress and prepare weekly reports on client communications and recovery performance.
- Ensure all recovery actions comply with company policies, legal requirements, and ethical standards.
- Work closely with legal counsel or relevant authorities to initiate legal proceedings against persistent defaulters.
- Perform any other duties assigned by the supervisor.
Required Qualifications and Skills
Education:
- Bachelor’s degree in Banking, Finance, Accounting, Business Administration, ICT in Business Management, or a related field.
Experience:
- 1–5 years of experience in debt collection, credit analysis, or banking.
Skills:
- Strong negotiation, communication, conflict resolution, and interpersonal skills.
Knowledge:
- Understanding of debt recovery legal procedures, credit risk management, and relevant local laws.
Personal Traits:
- Ability to work under pressure, meet strict targets, and maintain high ethical standards.
Additional Advantage:
- ICT knowledge will be an added advantage.
Application Process
All interested candidates should submit their application letter and Curriculum Vitae (CV) addressed to:
Vice Chairperson
Tumaini SACCOS Limited
P.O. Box 805
Arusha, Tanzania
Alternatively, applications can be sent via email to: Esther_Malulu@wvi.org, Application Deadline, Applications must be received no later than 31st March 2026 during official working hours.
