We are seeking a competent, proactive and results-driven Legal Officer with practical experience in microfinance banking, particularly in loan recovery, debt management and litigation support.
The successful candidate will provide legal and operational support for the Bank's loan recovery activities, ensuring that delinquent loans are pursued through appropriate recovery channels, legal procedures and enforcement mechanisms.
The ideal candidate must possess a good understanding of lending operations, loan documentation, debt recovery processes and applicable banking regulations.
Key Responsibilities
Provide legal support and guidance on loan recovery activities, particularly in managing delinquent and non-performing loan accounts.
Work closely with the Credit and Recovery teams to develop and implement effective loan recovery strategies.
Prepare and issue demand letters, letters of notice, repayment reminders and other legal correspondence to defaulting borrowers and guarantors.
Review loan agreements, guarantee documents, collateral documents and other credit-related legal instruments to ensure proper documentation and enforceability.
Support the recovery of outstanding loans through negotiation, mediation, settlement agreements and other lawful recovery mechanisms.
Liaise with external solicitors, law enforcement agencies, courts and other relevant institutions on loan recovery and litigation matters.
Monitor defaulting loan accounts and provide legal recommendations on appropriate recovery actions.
Conduct legal searches and due diligence on collateral documents, guarantors and other security instruments.
Support the repossession and enforcement of collateral in accordance with applicable laws and established procedures.
Maintain proper records of recovery actions, legal proceedings, court processes and other relevant documentation.
Advise Management on legal risks associated with lending, credit administration, loan recovery and debt enforcement.
Ensure that all recovery activities comply with applicable laws, regulatory requirements and the Bank's internal policies.
Qualifications and Experience
Bachelor's Degree in Law (LL.B) and a qualifying certificate from the Nigerian Law School.
Must be called to the Nigerian Bar and possess a valid practising status.
Minimum of 2 - 4 years of relevant legal experience, preferably within a microfinance bank, commercial bank, financial institution or debt recovery organisation.
Demonstrable experience in microfinance loan recovery, debt collection and management of delinquent loan accounts.
Practical knowledge of loan recovery procedures, debt enforcement, litigation and alternative dispute resolution.
Experience in preparing demand notices, legal opinions, loan agreements and other credit-related legal documents.
Good understanding of banking operations, lending procedures and applicable financial sector regulations.
Required Skills and Competencies
Strong negotiation, persuasion and debt recovery skills.
Excellent legal research, drafting and analytical abilities.
Good knowledge of loan recovery and litigation procedures.
Ability to manage difficult borrowers and guarantors professionally.
Strong communication and interpersonal skills.
High level of integrity, professionalism and attention to detail.
Ability to work independently and collaborate effectively with the Credit, Risk Management and Operations teams.
Results-oriented, proactive and capable of working with recovery targets.