20/03/2025
VACANCY ANNOUNCEMENT
Plan Malawi SACCO Position: Loan Collections Officer (6 months)
About Plan Malawi SACCO
Plan Malawi Savings and Credit Cooperative Limited is a member-owned financial cooperative serving all civil servants and Non-Governmental Organizations in Malawi. It is an affiliate of the Malawi Union of Savings and Credit Cooperatives (MUSCCO) and is fully licensed by the Reserve Bank of Malawi (RBM).
We are seeking an energetic, self-motivated, and results-oriented individual to join our team as a Loan Collections Officer on temporally basis.
Key Responsibilities
1. Loan Recovery & Collections
• Monitor and follow up on overdue loans to ensure timely repayments.
• Implement proactive loan recovery strategies to minimize non-performing loans.
• Negotiate and restructure repayment plans with defaulting members when necessary.
2. Member Engagement & Communication
• Maintain regular communication with members regarding their loan obligations.
• Educate members on the importance of timely loan repayments and financial discipline.
• Professionally handle member concerns and disputes related to loan repayments.
3. Loan Portfolio Management
• Track and maintain records of delinquent accounts and repayment agreements.
• Analyze trends in loan defaults and recommend corrective measures.
• Collaborate with the credit team to assess loan risks and suggest preventive actions. 4. Collateral Assessment & Creditworthiness • Verify the existence, ownership, and value of collaterals submitted as loan security. • Assess the creditworthiness and marketability of pledged assets to ensure they meet SACCO requirements.
• Maintain updated records of collaterals, including ownership documents and valuation reports.
• Recommend necessary actions in cases of undervalued, non-existent, or disputed collaterals.
5. Legal & Policy Compliance
• Ensure adherence to Plan Malawi SACCO’s credit policies, lending regulations, and recovery procedures.
• Initiate legal or disciplinary actions against defaulting members in line with SACCO policies.
• Maintain proper documentation for loan recovery cases, including agreements and legal notices.
6. Collaboration & Reporting • Work closely with credit, finance, and legal teams to enhance loan recovery efforts.
• Prepare and submit periodic reports on loan collections, delinquency rates, and recovery progress.
• Recommend process improvements to strengthen credit risk management.
Qualifications & Experience
• Bachelor’s Degree in Business Administration, Accountancy, Banking, or a related field.
• Minimum of three (3) years of experience in a financial institution (loans department).
• Strong knowledge of SACCO business operations.
• Familiarity with banking systems and financial software.
How to Apply
Interested candidates should submit:
A cover letter explaining their suitability for the position.
A detailed Curriculum Vitae (CV) outlining qualifications and experience.
Certified copies of relevant certificates.
Names and contact details of three traceable referees, including one from the most recent employer.
Applications should be delivered directly to our offices in Lilongwe situated opposite Lilongwe Hotel Exit Gate in area 3 OR sent via email to:
[email protected]
Postal Address:
The SACCO Manager
Plan Malawi SACCO
P.O. Box 2053 Lilongwe
Deadline for applications: 26th March 2025
Only shortlisted candidates will be contacted.
