Recovery Manager

FairMoney is a pioneering mobile banking institution specializing in extending credit to emerging markets. Established in 2017, the company currently operates primarily within Nigeria, and it has secured nearly €50 million in funding from renowned global investors, including Tiger Global, DST, and Flourish Ventures.

In alignment with its vision, FairMoney is actively constructing the foremost mobile banking platform and point-of-sale (POS) solution tailored for emerging markets. The journey began with the introduction of a digital microcredit application exclusively available on Android and iOS devices. Today, FairMoney has significantly expanded its range of services, encompassing a comprehensive suite of financial products, such as current accounts, savings accounts, debit cards, and state-of-the-art POS solutions designed to meet the needs of both merchants and agents. FairMoney thrives on its diverse workforce, bringing together talent from over 27 nationalities. This multicultural team drives the company’s mission of reshaping financial services for underserved communities.To gain deeper insights into FairMoney’s pivotal role in reshaping Africa’s financial landscape, we invite you to watch informative video.

Role Summary

The Recovery Manager will be responsible for strategically leading and managing all loan recovery operations. This role ensures the timely recovery of overdue loans, reduction of NPL ratios and enforcement of credit terms in line with CBN regulations, internal policies and ethical standards. This position oversees a nationwide/regional team of field recovery officers, supervisors, and third-party agents while ensuring high productivity, compliance, and operational excellence.

Key Responsibilities

1. Strategic & Operational Leadership

• Develop and execute field recovery strategies to reduce Portfolio at Risk
• Set clear field targets, KPIs, zonal recovery plans, and daily activity expectations for teams.
• Oversee the coordination of borrower visits, skip-tracing, location validation, and recovery escalations.

2. Recovery Management

• Approve restructuring or settlement offers based on delegated authority.
• Track and report field activities using digital tools

3. Risk, Compliance & Regulatory Adherence

• Ensure recovery processes adhere to CBN Consumer Protection Regulations, credit risk guidelines, and ethical collection practices.
• Conduct periodic audits of field actions to prevent misconduct, fraud, or undue customer harassment.

4. People Management

• Recruit, train, and supervise field recovery officers, zonal supervisors, and contract agents.

5. Stakeholder & Interdepartmental Collaboration

• Work with Credit, Collections, Risk, Legal, Operations, and Customer Service to ensure holistic case management.
• Liaise with community leaders, law enforcement, and local authorities when required and permitted.
• Prepare recovery performance reports to senior management.

6. Process Improvement & Technology

• Improve field recovery processes, route planning, customer tracking, and reporting structures.
• Develop and implement SOPs for field escalations, repossessions, and collateral realization.

Requirements:
• Bachelor’s degree in business, Finance, Economics, Accounting, or a related field (MBA or professional certification is an added advantage).
• 6+ years of experience in field recovery within the financial lending industry.
• Minimum of 2-3 years in a senior leadership or field supervisory role.
• Familiarity with CBN Microfinance Guidelines, debt recovery laws, and ethical collection standards.

Benefits:
• Private Health Insurance.

• Pension Plan.
• Paid Time Off.
• Hybrid Work Model.
• Training & Development.

Recruitment Process

• A screening interview with one of the members of the Talent Acquisition team.
• Technical interview with Head, In-house Collections.
• Final Interview with Director of Merchant Lending.