DVP/AVP/CM/Manager - Recovery Officer - Resolution Recovery Department

Job Summary:

As a Recovery Officer for our ARC (Assets Reconstruction Company), your primary role is to manage the recovery process of overdue loan payments and delinquent accounts. You will develop and implement effective strategies to minimize financial losses due to defaults while maintaining positive relationships with borrowers. Your focus will be on recovering outstanding debts in accordance with regulatory guidelines and company policies. You will also negotiate with the borrower for one time settlement (OTS) wherever feasible. You're expected to initiate legal proceedings against the borrower wherever required.

Key Responsibilities:

- Monitor delinquent accounts and overdue loan payments to identify early signs of default or non-payment.

- Track payment patterns and contact borrowers promptly when payments are missed or delayed.

- Develop and implement recovery strategies to maximize the collection of outstanding debts.

- Assess the financial situation of delinquent borrowers and determine the most appropriate recovery approach, such as negotiation, restructuring, or legal action.

- Contact delinquent borrowers through phone calls, emails, letters, or in-person visits to discuss repayment options and negotiate payment arrangements.

- Handle difficult conversations with borrowers professionally and empathetically, while firmly enforcing repayment obligations.

- Ensure compliance with all relevant laws, regulations, and internal policies governing debt collection activities.

- Work closely with legal advisors and external agencies to escalate cases for legal action when necessary and manage the legal recovery process.

- Maintain accurate records of all communication with borrowers, including payment arrangements, promises to pay, and legal notices.

- Prepare regular reports on the status of delinquent accounts, recovery efforts, and collection trends for management review.

- Analyze the delinquent loan portfolio to identify trends, patterns, and areas of potential risk.

- Assess the probability of recovering outstanding debts and make recommendations for portfolio management and risk mitigation.

- Provide support and assistance to borrowers experiencing financial difficulties, guiding them through the recovery process with empathy and professionalism.

- Handle borrower inquiries and complaints promptly and effectively, maintaining a positive customer experience.

Qualifications and Skills:

- Bachelor's degree in Finance, Business Administration, or related field. Legal qualification will be a plus.

- Proven experience in debt recovery, collections, or a similar role within the financial services industry, preferably in an NBFC.

- Strong knowledge of debt recovery procedures, legal regulations, and industry best practices.

- Excellent communication and negotiation skills, with the ability to interact assertively yet empathetically with borrowers.

- Analytical mindset and problem-solving skills, with the ability to assess borrowers' financial situations and develop appropriate recovery strategies.

- Ability to work independently and collaboratively in a fast-paced environment, while adhering to strict deadlines and performance targets.

- Proficiency in using debt collection software, customer relationship management (CRM) systems, and Microsoft Office applications.

Key Competencies:

- Analytical Thinking

- Problem-Solving

- Negotiation Skills

- Strategic Planning

- Relationship Building

Why Join Us?

- Opportunity to work in a dynamic and growing industry.

- Competitive salary and benefits package.

- Collaborative and supportive work environment.

- Opportunities for professional growth and development.