Hiranandani Financial Services - Manager - Collections Strategy

Responsibilities:

- Develop and execute comprehensive collections strategies to optimize the recovery process and reduce delinquency rates.

- Conduct regular projections and forecasts of collections targets based on historical data, industry trends, and business objectives.

- Utilize advanced analytics techniques to analyze collection data, identify patterns, and extract actionable insights.

- Develop and maintain effective management information systems (MIS) for the collections department, ensuring accurate and timely reporting of key metrics.

- Monitor collection performance metrics, such as roll rates, collection efficiency, and days sales outstanding (DSO), to identify areas for improvement and drive strategic initiatives.

- Collaborate with cross-functional teams, including credit, risk, and operations, to ensure alignment of collection strategies with overall business goals.

- Design and implement collection scorecards and key performance indicators (KPIs) to track and measure the effectiveness of collection efforts.

- Conduct regular reviews of collection policies and procedures, recommending enhancements and implementing best practices.

- Provide guidance and support to collection teams, offering training and coaching to enhance their performance and adherence to collection strategies.

- Collaborate with technology teams to leverage automation and data analytics tools to improve collections processes and efficiency.

- Stay up-to-date with industry trends, regulatory changes, and best practices in collections strategies and technology solutions.

- Present collection strategies, insights, and recommendations to senior management and stakeholders, ensuring clear communication of goals and progress.

- Monitor external collection agency performance, ensuring compliance with regulatory requirements and performance expectations.

Qualifications:

- Proven experience as a Collections Strategy Manager or in a similar role, preferably within the financial services industry.

- Strong expertise in collections strategies, including projections, forecasting, analytics, and MIS management.

- In-depth knowledge of collection processes, industry regulations, and best practices.

- Proficiency in data analysis and visualization tools (e. g. , SQL, Excel, Tableau, Power BI) to analyze large datasets and extract meaningful insights.

- Excellent analytical and problem-solving skills, with the ability to think strategically and translate insights into - actionable strategies.

- Strong project management and organizational skills, with the ability to manage multiple initiatives simultaneously.