Area Collections Manager-Vehicle Finance

Ujjivan Financial Services

5-7 Years

Agartala, India

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Posted 20 hours ago

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Job Description

POSITION DESCRIPTION

JOB TITLE : Area Collections Manager-Vehicle Finance

GRADE : AVP-I

DEPARTMENT : Collections

LOCATION : Branch Name

SUB-DEPARTMENT : Vehicle Finance

TYPE OF POSITION : Full-time

REPORTS TO : Regional Collections Manager

REPORTING INTO

Cluster Collection Manager & Agency Managers

ROLE PURPOSE & OBJECTIVE

The Area Collection Manager is responsible for overseeing and managing all aspects of debt collection activities within a specific state or region . This role requires a combination of strong leadership, strategic thinking, and a deep understanding of debt collection laws and regulations. The primary goal of the Area Collection Manager is to maximize debt recovery while ensuring compliance with all applicable laws and regulations.
The incumbent works towards meeting recovery targets, as decided by the Regional Collection Manager; d rives the complete recovery & collection process from annual target setting, driving target achieving via direct means and indirect means (legal etc.), closure and write off if any; m onitors receivables and collections and provides updates of receivables with appropriate details to Regional Collection Manager.
SIZE OF THE ROLE

FINANCIAL SIZE

NON-FINANCIAL SIZE

Portfolio Managed – Entire State of Vehicle Finance
Number of vendors/ consultants – one or more as per the area allotted.
Number of portfolio products –Vehicle Finance and Cross Selling Products
KEY DUTIES & RESPONSIBILITIES OF THE ROLE

Business

Monitor receivables and collections and receive updates of receivables with appropriate details from the team.
Follow up with Branch staff, Cluster Managers, Agency Managers, Field Collection staff to monitor & track status of collections and manages administrative work related to collection.
Drive preventive Collections in the area.
Need to plan and execute different kind of activities such as Lokadalat, Conciliation, LRN, Sec 138 etc.
Need to handle minimum team size of 4 CCM's, 24 Agency Manager 5 Collection Officers(If required).
Need to ensure proper use of tools and software at field and agency level.
Ensure maximum number of accounts is collected through follow ups and other defined communication techniques.
Engage in conducting field investigations and collecting delinquent accounts.
Developing and introducing new strategies / methods for collections across all buckets.
Work on Critical cases, getting it recovered from the customers.
Trace out of absconded default customers and initiate recovery process
Through credit team need to ensure an effective tele-calling process for effective collection follow ups & recoveries.
Write-off of Nominee recovery cases, which are not recoverable even after taking all the efforts; run Write-Off recovery programs with involvement of relevant departments.

Customer

Establish contact with customers and execute advanced loss prevention activities (i.e. skip tracing, settlement process) through the team of cluster managers and officers.
Field visits to default clients in view of collections and to study the repayment behavior of delinquent clients. Prepare a potential course of action to reduce the risk of uncollectible dues.
Maintain fair collection practices while dealing with customers and ensuring that the team follows the same.

Internal process

Team management -monitoring and supervision of activities of the allotted team.
Identify accounts requiring legal action and provide same details to collection manager.
Ensure the remarks are captured in the Collection Software.
Need to ensure through the team responsible for administrative work related to collection such as updating delinquent account history, updating change of customers information, providing and maintaining MIS report, reviewing of collection feedback on daily, Weekly & Monthly basis, etc.
Analyze delinquent accounts and prepare reports on high risk accounts along with recommendations for resolution and Work towards automation of reports relating to delinquency management.
Prepare reports and correspondence relating to collections, status of accounts, and payment records.
Ensure timely recruitment based on work allotment & effectively allocate resources to achieve the desired goals
Recommend time to time for any collection policy changes after analyzing from the field.
Develop & finalize MIS to identify deteriorating portfolio across branches, states & districts.
Identify early warning signals and aid the branches & field collection team in managing efficient loan portfolio.
Manage bad debt write off in accordance with the Collection Policy
Ensure timely issuance of company notices to chronic defaulters as defined in the collections policy through credit team and ensure regular follow ups by accountable staff at various levels

Learning & Performance

Need to train the team & branch staffs time to time on Collection Management/upgrading the Skills etc. Build a strong field collections team with clear objectives
Manage daily activities of the team.
Ensure that you and team are up to date on all relevant circulars and all products/services offered in the Branches.
Ensure adherence to training man-days/ mandatory training programs for self and team.
Ensure goal-setting, mid-year review and annual appraisal process within specified timelines for self and team.
MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

Qualifications

Graduate in any stream.

Experience

Should have an experience of team handling in Collections at least 5-6 years.
Should have an experience of overdraft facility/ process/ business/ collection.

Functional Skills

Team management
Has to have tenacity in meeting targets.
Take responsibility of effectiveness and timely completion of work.
Planning, organizing and time management skill. Should have the ability to prioritize.

Behavioral Skills