Asset Recovery Officer

Cepat Kredit Financing Inc.; Pasig; On-site; PHP 334,800 - 558,000; Full time

Job summary

A financial services firm in Metro Manila is seeking an experienced Asset Recovery Specialist to manage the recovery of defaulted loans secured by collateral. Responsibilities include negotiating with borrowers, coordinating asset sales, and ensuring legal compliance during recovery processes. Candidates should hold a relevant Bachelor's degree and have 2-3 years of experience in asset recovery. This full-time position involves both office and fieldwork, often requiring travel for asset inspections and recoveries.

Qualifications

• At least 2-3 years of experience in asset recovery or collections.
• Ability to work under pressure and handle financial matters.

Responsibilities

• Identify, track, and recover assets secured by collateral.
• Negotiate with borrowers for voluntary asset turnover.
• Coordinate sales or liquidation of recovered assets.

Skills

Knowledge of asset recovery processes

Strong negotiation skills

Detail-oriented with excellent organizational skills

Understanding of legal and regulatory requirements

Proficiency in Microsoft Office Suite

Education

Bachelor’s degree in Business Administration, Finance, or Law

Tools

Asset tracking software

Loan management systems

Job description

Key Responsibilities

Asset Recovery

• Identify, track, and recover assets secured by collateral to settle defaulted loans.
• Perform asset inventory checks and ensureaccuratedocumentation of all assets involved in the recovery process.
• Coordinate and oversee the execution of asset recovery plans to maximize the value of recovered assets.
• Negotiate with borrowers tofacilitatevoluntary asset turnover, where possible, to avoid further legal action.

Legal Coordination

• Work closely with legal advisors toinitiateand manage legal actions related to asset recovery, including foreclosure, repossession, or other processesin accordance withthe loan agreement.
• Ensure that all asset recovery actions are legally compliant with applicable laws and company policies.
• Maintain proper documentation of all legal actions, communications, and outcomes related to asset recovery.

Asset Valuation and Disposal

• Collaborate with appraisers or asset evaluators todeterminethefair market valueof recovered assets.
• Manage and coordinate the sale, auction, or liquidation of recovered assets to achieveoptimalrecovery.
• Ensure the proper valuation and disposal of assets in compliance with internal policies and market conditions.

Reporting and Documentation

• Maintainaccuraterecords and documentation of asset recovery efforts, including details of each asset, transaction history, valuation reports, and sale or liquidation outcomes.
• Prepare and submit regular status reports on the progress of asset recovery and disposal activities.
• Provideaccurateandtimelyupdates to management on recovery performance, including challenges or issues faced during the recovery process.

Risk Management

• Identifypotential risks related to asset recovery and ensure that proper measures are taken to mitigate such risks.
• Monitor asset condition and market trends to assess the potential for recovery and takeappropriate actionto prevent asset depreciation.
• Safeguard the company’s interests by ensuring that assets are properly protected, stored, andmaintaineduntil recovery or disposal.

Collaboration and Stakeholder Management

• Work closely with internal teams, such as finance, collections, and legal departments, to ensure effective asset recovery and seamless coordination.
• Engage with external vendors, including auction houses, third-party evaluators, and legal service providers, tofacilitateasset recovery and disposal.
• Ensure effective communication with borrowers, explaining the recovery process and seeking resolutions or agreements when possible.

Customer Interaction and Negotiation

• Communicate with borrowers to understand their circumstances, explain their options, andseekmutually agreeable resolutions to avoid further collection or legal actions.
• Negotiate settlements or repayment plans with borrowers to minimize the need for asset recovery.
• Assistin mediating disputes related to asset recovery and collaborate with management to developviablesolutions.

Additional Responsibilities

• Other duties as assigned to ensure the smooth execution of asset recovery and disposal processes, including assisting with ad hoc tasks or supporting other departments in related activities as needed. Maintain flexibility to adapt to changing needs and priorities of the business.

Key Requirements

• Educational Requirement:Bachelor’s degree in Business Administration, Finance, Law, ora relatedfield.
• Experience:At least 2-3 years of experience in asset recovery, collections, or related fields, with a focus on managing collateral assets and loan default cases.

Skills

• Knowledge of asset recovery processes, including valuation, repossession, and liquidation strategies.
• Understanding oflegal and regulatory requirements related to asset recovery and foreclosure.
• Strong negotiation, communication, and interpersonal skills.
• Ability to work under pressure and handle complex situations involving sensitive financial matters.
• Detail-oriented with excellent organizational and documentation skills.

Technical Skills

• Proficiencyin Microsoft Office Suite (Excel, Word, PowerPoint).
• Experience with asset tracking software or loan management systems.
• Familiarity with financial reporting tools and databases.

Job Competencies

• Strong analytical and problem-solving abilities to evaluate and manage recovery opportunities.
• Ability to handle complex negotiations and managedifficult situationswith professionalism and tact.
• Proven ability to work both independently and as part of a team.
• High levelof integrity and ethics, with the ability to handle confidential and sensitive information.

Working Conditions

• Full-time position, primarily in an office environment, with occasional field visits for asset inspections or recoveries.
• Occasional travel may berequiredfor asset retrieval or collaboration with external partners.