Job Description
Job Purpose
To manage the collections process at a regional level, working with non-performing defaulting borrowers to create optimum recovery solutions. To liaise with in-house and external collections teams and to oversee their activities, ensuring compliance with all internal policies and relevant regulations.
Job Context & Major Challenges
Job Context
Key Aspects
The Risk & Compliance function carries out monitoring of client wise exposure and portfolio exposure to identify early warning signals of stress and to minimize NPAs. Currently monitoring is done in association with Business Teams as RMG does not have presence at Branch level. It carries out over due loan recovery from defaulting clients in coordination with Business Teams.
To enable enhanced business profitability through the effective management of the delinquent portfolio for Housing Finance
Job Role
Manage the on-ground teams and agencies to ensure timely collection of cases across all buckets.
Building and managing an engaged collections team that takes pride in their work.
Recruiting, coaching and mentoring the team; identifying team goals and evaluating team progress.
Implementation and management of all compliance, regulatory and other customer experience related norms during execution.
Leverage alternate resolution mechanisms including legal to maximize collections & recoveries.
Undertake regular & timely team reviews to help increase engagement levels and improving upon performance.
Good negotiation skills to be personally able to convince delinquent customers to make payments on their overdue accounts.
Key Challenges
Understanding and exposure to Home loan & LAP products Lending collections dynamics.
Managing flow rates across buckets targeting month on month reduction of credit losses for respective region
Secured lending has lot of legality involved from legal process to complete documentation
Getting information from customer which can be shared with risk team to take calls in future deals
Managing team and keeping them motivated and their moral high all the time
Enabling Skill Sets & Qualifications
Minimum 7-8-Yrs of experience in related field as Region In-charge/ location head. Exposure to Credit and other line function is desirable.
Experience in managing outsourced agencies /vendors.
Able to leverage legal tools to help improve collections efficiency
An initiator with very high level of energy.
Ability to conceptualize and effectively execute the various collections strategies
Strong interpersonal skills and good team player.
Excellent leadership, Analytical, Negotiation, influencing and communication skills.
Market understanding and collections/Fraud techniques.
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 Manage the collections process at a regional level, streamlining operations and working to minimize the costs of default and bad debt Monitor customer accounts across the region, identifying and flagging likely cases of default or delayed payment
Work with non-performing defaulting borrowers to create optimum recovery solutions
Ensure that all documentation related to the collections process is maintained in accordance with internal norms and regulatory requirements
Respond to customer complaints regarding the collections process, taking steps to ensure a satisfactory outcome for both ABHFL as well as its customers
Plan and implement periodic audits of the collections teams, ensuring their compliance with all relevant policies and regulations
Coordinate with the legal team and senior management in the event of escalated cases to ensure compliance with relevant regulations
KRA2 Liaise with internal and external agencies to drive the collections process in an efficient manner Review the status of outstanding collections on a periodic basis with in-house teams; plan and implement corrective action to ensure timely collections
Oversee the selection process for external agencies, ensuring adequate training of the collections staff
Liaise with external collections agencies to ensure collection of overdue debts in a timely manner
Liaise with legal / law enforcement authorities on escalated cases to ensure a speedy recovery process
