Posted By
Posted in
Banking & Finance
Job Code
1422473
Responsibilities:
- Manage Collections Process: Oversee the end-to-end collections process, including strategizing, planning, and executing effective debt recovery methods.
- Coordinate with internal teams and external agencies to optimize collection efforts.
- Portfolio Monitoring: Regularly monitor the debt portfolio within the assigned area, segmenting accounts based on delinquency levels and implementing tailored collection strategies for each segment.
- Analyze Bucket-wise DPD trends to identify areas for improvement.
- Target Allocation and Achievement: Allocate collection targets to external agencies or internal teams and ensure they are achieved within the specified timelines.
- Provide necessary support and guidance to ensure performance goals are met.
- Repossession Management: Manage repossession processes for accounts in higher bucket stages, coordinating with legal and operational teams to ensure compliance with regulatory requirements and ethical standards.
- Customer Follow-Up: Conduct proactive follow-ups with defaulting customers to negotiate repayment terms, address concerns, and resolve disputes.
- Build and maintain positive relationships with customers to facilitate smoother debt recovery.
- Compliance Adherence: Ensure strict adherence to collection processes, regulatory guidelines, and legal requirements to mitigate risks and maintain the organization's reputation.
- Stay updated on relevant laws and regulations governing debt collection practices.
- Absconded Customer Tracing: Utilize various tools and techniques to trace absconded default customers, collaborating with third-party vendors or investigative agencies when necessary.
- Initiate appropriate recovery actions to locate and engage with these customers.
- Data Maintenance and Reporting: Maintain accurate and up-to-date records of collection activities, including updating delinquent account histories, generating MIS reports, and analyzing collection feedback.
- Utilize data insights to drive continuous improvement initiatives in the collections process.
- Performance Review and Analysis: Regularly review collection performance metrics on a daily, weekly, and monthly basis to identify trends, gaps, and areas for improvement.
- Develop action plans and strategies to address performance issues and optimize collection efficiency.
- Team Development and Training: Provide coaching, training, and mentorship to collection staff to enhance their skills, knowledge, and performance.
- Foster a culture of accountability, professionalism, and continuous learning within the collections team.
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Posted By
Posted in
Banking & Finance
Job Code
1422473
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