Head of Collections at Credit Direct Limited

JOB SUMMARY

Define, implement and monitor strategies, policies, processes and procedure around debt management that must be followed, and ensure that the recovery plans throughout the organization are effective and efficient in identifying and managing toxic assets.

JOB DESCRIPTION

Collections 

• Ensure team members meet collection goals, comply with company standards and relevant laws in the discharge of their duties. 
• Supervise and coordinate activities of the team engaged in collecting overdue payments. 
• Review delinquent account records to determine which customers/employers must be contacted for collection of overdue accounts.
• Organize collection work load according to degree and amount of delinquency and assign accounts to workers for collection.
• Design and approve correspondences for use in collection attempts. 
• Authorize or refer accounts to Recovery and Fraud and Investigations team for further actions. o Assist subordinates with collection activities in difficult cases. 
• Review and use independent discretion, within granted authority, to approve recovery requests, and field visit requests. 
• Research and respond to team members’ issues, complaints and escalated calls. 
• Establish and maintain client relationships (internal and external) providing world class service for every transaction and interaction. 
• Design develop and oversee strategies to address and prevent past due account balances through proactive interaction with customers/employers. 
• Recommend changes in the credit policy to senior management. 
• Ensure accurate customer records through proper account reconciliations, payment application, recording of adjustments (write-offs, credit memos, etc.), name changes, email address changes, etc. 
• Partner with various functions within the company to help understand the collections process. o Manage external recovery agents. 

Debt Management 

• Define and implement recovery plan/framework for the company to prevent bad debts and portfolio quality. 
• Secure efficient and timely follow up functions. Assure that no account is written off due to lack of follow up or neglect. 
• Review and analyse account receivable and variance reports. Periodically review and report the status of accounts receivable to the Head, BoRM. 
• Maintain professional relationships with other department to coordinate and resolve knotty accounts, collections and customer experience-related issues. 
• Generate and evaluates daily, weekly and monthly reports for the recovery staff and for financial and managerial audit. 
• Monitor processes generally and team members specifically to assure that recovery is correct and timely. 
• Ensure timely follow up and resolution of accounts receivable balances. 
• Approve write offs and authorize adjustments within the limits set for this position by policy. 3. Strategy, Management & Business Continuity 
• Develop and manage the budget for the department. 
• Provide/present formal report of activities and achievements of the department monthly to the Divisional Head, BoRM. 
• Participate in internal meetings or committees to provide advice on sales data. 
• Establish a system of knowledge management to capture, store and transfer and retrieve work done within the department for posterity and business continuity. 
• Support the preparation for and response to audits and ensure that any audit findings are appropriately responded to and remediated. 

JOB EXPERIENCE

Functional Competencies:

• Bachelor’s degree in a related field.
• Advance knowledge of Microsoft word, Excel, Access and PowerPoint, SQL, PowerBi
• Critical Thinking, Problem Solving and Analytical Skills
• Performance Management
• Creativity
• Attention to details
• Knowledge of loan Monitoring & Remedial Management
• Clear understanding of portfolio risks related to vintage and delinquency Trends.
• Adept at working  across  matrix Organizations. 

Person Specification:

• Adaptable and able to thrive in a dynamic work environment.
• Commitment to upholding and promoting the company's DNAs.
• Empathetic approach to understanding and addressing the needs of both internal and external stakeholders.
• Execution-oriented with the ability to deliver results under pressure.