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Collections Manager (Collections)/ 393 days ago

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Qualification:

Job Description:

 Job Summary:

We are seeking a highly motivated and experienced Collection Manager to lead and manage the collection efforts for both secured and unsecured loan portfolios. The ideal candidate will have experience in the financial services sector, specifically in collections, with a focus on overdue loan accounts. The role will involve team management, developing and executing collection strategies, and ensuring compliance with regulatory and company policies. The Collection Manager will also be responsible for overseeing a team of collection executives and ensuring collection targets are met consistently.

Key Responsibilities:

• Team Leadership & Management: Lead, motivate, and manage a team of collection executives responsible for handling secured and unsecured loan collections.
• Collection Strategy: Develop and implement effective strategies for the collection of overdue loans, both secured  ensuring timely recovery and minimizing delinquencies.
• Monitoring & Reporting: Track team performance, monitor collection efforts, and report on progress against targets. Provide regular reports to senior management on collection KPIs, outstanding dues, and recovery status.
• Customer Interaction: Handle escalated cases, negotiate with clients, and develop tailored repayment plans or settlements. Ensure a customer-centric approach while maintaining a focus on recovery.
• Compliance & Legal: Ensure all collection activities comply with relevant legal guidelines, regulatory requirements, and company policies. Coordinate with legal teams when required for legal actions and recovery processes.
• Debt Recovery: Oversee the collection of secured loan collateral and coordinate with the recovery team for any repossession processes. Ensure maximum recovery for unsecured loans using appropriate methods.
• Customer Education: Educate customers on the importance of timely loan repayment and the consequences of non-payment. Maintain a strong relationship with borrowers to facilitate better repayment outcomes.
• Risk Management: Identify high-risk accounts and create action plans to mitigate risk and reduce defaults. Monitor portfolios and ensure the appropriate allocation of resources to high-priority cases.
• Collaboration: Collaborate with the operations, legal, and finance teams to address client concerns, resolve issues, and improve overall collections processes.
• Skills:
• Strong leadership and team management skills.
• In-depth understanding of collections processes, including legal recovery actions, for both secured and unsecured loans.
• Excellent communication, negotiation, and interpersonal skills.
• Ability to manage a team and meet collection targets.
• Strong analytical and problem-solving abilities.
• Knowledge of local regulations related to loan collections and recovery in India.
• Proficiency in MS Office and familiarity with loan management and collections software.

Compensation and Benefits:

• Competitive salary of Rs.20,000 – Rs.30,000 per month based on experience.
• Performance-based incentives.
• Benefits like medical insurance, travel allowances, etc.
• Opportunities for career growth within the organization.

Skills:

Desirable Skills:

• Proficiency in Marathi is Mandatory (for Baramati, Panvel, and Aurangabad).
• Previous experience in collections within the NBFC sector.
• Familiarity with legal procedures related to loan recovery and default management.