Collections Role - Digital Lending

Job Location : Kalina Mumbai

Role : VP Collections (Someone who has done personal loans/digital lending collections)

Experience : 8-10 years

Budget : 20 to 25 LPA

1. Team Management:

- Recruit, train, and lead a team of collection agents.

- Set individual and team performance targets and KPIs.

- Provide coaching, guidance, and support to the collection agents.

- Liaise with Collection Agencies

2. Collections Strategy:

- Implement and execute collections strategies to maximize debt recovery and reduce delinquency.

- Develop and maintain efficient collections workflows and processes.

- Identify and escalate high-risk accounts for specialized attention.

3. Customer Engagement:

- Maintain professionalism and excellent communication skills when interacting with customers.

- Handle customer inquiries, disputes, and complaints in a professional and empathetic manner.

- Build and maintain positive customer relationships to encourage timely payments.

4. Reporting and Analysis:

- Prepare regular reports on collections performance, including aging analysis and recovery rates.

- Analyze data to identify trends and areas for improvement.

- Work with the Collections Head to develop and refine strategies based on data insights.

5. Compliance:

- Ensure that collections activities adhere to all relevant laws and regulations.

- Stay updated on changes in collection-related legislation and incorporate them into procedures.

6. Debt Recovery:

- Develop and implement strategies to recover delinquent debts.

- Work with collection agents to negotiate settlements, payment plans, and other debt resolution options.

- Engage with external collection agencies or legal resources when necessary.

7. Customer Care:

- Provide superior customer service and assist customers in resolving payment issues.

- Educate customers on payment options and policies, helping them understand their obligations.

8. Technology and Systems:

- Utilize collections software and tools to streamline processes and optimize efficiency.

- Ensure the accuracy and integrity of the collections database.

Qualifications:

- Bachelor's degree in finance, business, or a related field. A master's degree is a plus.

- Proven experience in collections management, with at least 5-6 years in a supervisory or managerial role.

- Thorough knowledge of collections regulations and best practices.

- Strong leadership and team management skills.

- Excellent communication, negotiation, and interpersonal skills.

- Proficiency in collections software and Microsoft Office applications.

- Ability to analyze data and make data-driven decisions.

- Empathy and patience when dealing with customers.

- Candidates who have done collections for Digital and personal loans lending will be