Career Opportunity: Loan Recovery Officer at Tumaini SACCOS
Are you a finance professional with experience in debt recovery or credit management? Tumaini SACCOS Limited is inviting applications from qualified candidates for the position of Loan Recovery Officer based in Arusha, Tanzania.
This role offers an opportunity to work in a member-based financial institution that focuses on promoting savings and providing loans to members while maintaining strong financial discipline and responsible lending practices.
Why Work with Tumaini SACCOS
Working with Tumaini SACCOS Limited provides professionals with the opportunity to contribute to financial inclusion and cooperative development in Tanzania. As a member-based financial institution, the organization plays an important role in supporting individuals and businesses through accessible financial services.
Employees benefit from working in a structured financial environment where accountability, professionalism, and strong financial management are highly valued.
About Tumaini SACCOS
Tumaini SACCOS Limited is a Savings and Credit Cooperative Society registered under the Cooperative Society Act in Tanzania. The organization’s primary objective is to mobilize savings from members and provide loans in accordance with its established loan policies.
Through its operations, Tumaini SACCOS supports economic development among its members by providing accessible financial services and promoting responsible credit management.
Who Can Apply
This position is suitable for candidates who meet the following requirements:
- Bachelor’s Degree in Banking, Finance, Accounting, Business Administration, ICT in Business Management, or a related field.
- 1–5 years of experience in debt collection, credit analysis, banking, or related financial services.
- Strong negotiation, communication, and conflict resolution skills.
- Understanding of credit risk management and debt recovery legal procedures.
Candidates should also demonstrate strong interpersonal skills, the ability to work under pressure, and a commitment to maintaining high ethical standards. Basic ICT knowledge will be an added advantage.
Key Responsibilities
The Loan Recovery Officer will be responsible for managing non-performing loan portfolios and ensuring the recovery of outstanding debts. Key duties include:
- Pursuing outstanding loans, interest, and penalties through phone calls, written communication, and site visits.
- Negotiating repayment plans with borrowers based on their financial situation.
- Conducting field visits and managing collateral repossession when authorized.
- Maintaining detailed recovery records and preparing weekly progress reports.
- Ensuring all recovery actions comply with organizational policies and legal requirements.
- Working with legal counsel or authorities to initiate legal proceedings for persistent loan defaults.
- Performing additional duties assigned by the supervisor.
Key Performance Indicators (KPIs)
Successful performance in this role will be measured by the following targets:
- Achieving a 20–30% recovery rate per year for older debts.
- Achieving an 80–90% recovery rate for newly delinquent loans.
How to Apply
Interested candidates should submit their application letter and updated CV addressed to:
Vice Chairperson
Tumaini SACCOS Limited
P.O. Box 805
Arusha, Tanzania
Applications should clearly indicate the position being applied for.
Only shortlisted candidates will be contacted for the next stage of the recruitment process.
Final Thought
This position offers an excellent opportunity for finance professionals who want to build their careers in credit management and debt recovery. By joining Tumaini SACCOS Limited, you will contribute to strengthening responsible lending practices while supporting the financial sustainability of a cooperative institution dedicated to serving its members.
