Head, Wealth & Retail Banking Collections & Recovery at Standard Chartered Bank

Job Summary

• To ensure that the Country Collections Department is managed efficiently & effectively, to enable it to meet business objectives, add value to the strategic direction, planning & performance of the function.
• Ensure sustainable Collections & Recoveries operation & governance to deliver on loan impairment, cost and collections KPIs, productivity, controls & initiatives as well as conduct.
• To enhance collections & recovery capability & drive optimisation & standardisation in the function,

Key Responsibilities
Functional Management

• Provide leadership to the Collections and Recoveries function in meeting the LI & cost budgets. Work with country teams to meet operational key performance indicators, improve efficiency, minimise complaints & improve overall performance.
• Develop and implement the Collection & Recovery agenda and specific initiatives to support the agenda. The agenda should cover areas of strategy, standardisation and automation, channel optimisation, productivity, people & controls.
• Support Global Initiatives and Deliver on the Collection Strategy Road map. Making optimal use of all collection tools and using analytics and data segmentation to enhance collection efficiency. Identify systemic risks and gaps and closure in a sustainable manner.
• Support ongoing interaction with credit risk & provide timely feedback in order that risks across business lines can be mitigated.
• Develop & support testing to optimise collection channels & maximise dollars collected.
• Establish an operating rhythm for monitoring performance review.

Strategy & Governance

• Leads in the development of the overall strategic direction, operating budget, delivering business objectives, and overall people management for Collections and recoveries.
• To have an adequate and relevant collection strategy which is commensurate with the size and risk of the portfolio.
• Drives collaboration and deliver synergies across the Collection and Recoveries teams, Hub and stakeholders.
• Communicate, on a regular basis, to colleagues in Credit Risk functions and business teams on market intelligence and/or significant shifts in customer segments, behavioural patterns etc to facilitate timely revisions to policies, procedures and business strategies where required.
• Liaise with Partnership tie-ups (where applicable) to ensure appropriate collection strategies and governance framework is in place
• Ensure all collections policies and procedures comply with Group Policies and Standards and local regulations. Assure proper and updated documentation of all in-country policies and procedures are maintained always.
• Accountable for satisfactory closure of issues/gaps arising from Internal Audits, Business Risk Reviews, peer reviews, third party agency audits and regulatory reviews
• Keeps abreast of emerging issues, industry trends and evolving regulatory requirements and oversees the establishment and delivery of respective requirements.
• Provide inputs into Loss Forecasting based on collection inventory and most recent flows, highlighting any large items.
• Champion continuous process improvements, up skill collection techniques, upgrade collection tools, optimize collections systems and conduct periodic suppliers’ reviews to maximize cost efficiencies.

Tools & Technology

• Making optimal use of all collection tools and using analytics and data segmentation to enhance collection efficiency.
• Introduce new tools into collections to enhance efficiency and effectiveness.
• Ensuring constant development of system capability to enhance operating process.
• To ensure that portfolio analysis conducted by the Credit team is fully leveraged for collections activity.
• Champion continuous process improvements, up skill collection techniques, upgrade collection tools, optimize collections systems

Processes

• Be robust and support scale, drive standardization and automation.
• To ensure that all Collections activities are carried out in compliance with the agreed standards and with due recognition of the regulatory guidelines within the country and the overall OR framework.
• Liaise with Collection & MIS Hub where appropriate to maximise benefits of centralisation.
• Uphold customer engagement and conduct principles of ‘Treating Customers Fairly’ during customers interactions.
• To maintain the highest standard of vendor governance.
• Responsible for outsourcing matters and providing guidance to outsourcing owners on applicable policies and regulations to ensure compliance.
• Ensure timely escalation of any outsourcing risk and tabling of any new/incremental outsourcing activities to appropriate risk forum. To work with outsourcing owners to ensure adequate on-boarding due diligence, governance oversight on outsourced activities and updating of outsourcing inventory.
• Ensure adherence to the OR Assurance Framework in the identification, assessment, mitigation and control and monitoring of risk. Ensure adequate traction, track, and follow through management actions to mitigate identified operational risks exposure.
• Manage costs within budget and forecasts; understand costs drivers, trends & seasonality, and monthly budget/actual/forecast variances.
• Review and ensure adequate and accurate collections performance & cost MIS and KPIs are in place and prepared in a timely manner, to facilitate performance management of the Collections Department
• Champion continuous process improvements, up skill collection techniques, upgrade collection tools, optimize collections systems and conduct periodic suppliers’ reviews to maximize cost efficiencies.
• Making optimal use of all collection tools and using analytical and data segmentation to enhance collection efficiency.
• Regularly perform “Deep Dive” on portfolio and collector performance through CACS and where appropriate Dialler reviews.
• To ensure that portfolio analysis conducted by the Credit team is fully leveraged for collections activity.
• To ensure uphold the principles of Treating Customers Fairly (TCF) during customer interaction.
• Responsible for Collections Department & contracted third party agency compliance to the Group Code of Conduct, Collectors Code of Conduct & Third Party Agent Code of Conduct

People & Talent

• Employ, engage, and retain high quality people
• Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
• Lead through example and build the appropriate culture and values within the Function and across the wider organization.
• Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Responsibility to review team structure/capacity plans.
• Work closely with Country Credit Heads, COO’s and key Stakeholders to implement Collections strategies & deliver operational efficiency within the collection code of conduct & operational risk frameworks.
• Implement collection target operating model.
• Engage teams through regular reviews/sharing of best practices.
• Develop a robust bench strength within the country through training & leadership development.

Risk Management / Governance

• Account for compliance with operational risk, against money laundering guidelines, reputational risk, Treating Customer Fairly policy, and local regulations on collection activities including but not limited to customer data privacy, physical contact and use of third party agency guidelines
• Implement the Operational Risk Framework (ORF) as planned and on a timely basis, and proactively and rigorously evaluate ORF controls whenever there are changes to high risk processes. Continuously improve collection processes to reduce operational risks. Ensure proper identification of the material risks and maintaining an effective control environment.
• Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
• The ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures
• Implement the Operational Risk Framework (ORF) & proactively evaluate ORF controls whenever there are changes to high risk processes. Continuously improve collection process to reduce operational risks. Ensure proper identification of the material risks & maintain an effective control environment.
• Ensure routines & training that reinforce compliance & adherence to key corporate, legal & regulatory initiatives. Integrate controls into the operating environment that help protect against weak operational controls that lead to fraud & risk.
• Socialise issues arising out of audits/control testing to ensure that learning’s are disseminated across all countries.
• Responsible for delivering ‘effective governance’; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Lead Country Collections and Recoveries to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.]

Key stakeholders
Internal

• EMEA Head of Collections
• Country Credit Head (CCH)
• Country COO
• Country Head of WRB
• Country Head of Employee Banking
• Members of the Group Collections team
• Country Credit Risk – Policy and MI&F
• CACS systems team
• Learning and Training development team
• GIA
• HR and L&C Teams

External

• Lawyer’s – Litigation matter’s
• Auditors & Regulators

Other Responsibilities

• Embed Here for good and Group’s brand and values in Country Collections; Perform other responsibilities assigned under Group, Regional, Country, Business or Functional policies and procedures;

Skills And Experience

• Risk – Retail and PB Credit Risk
• Risk – Retail Operational Risk
• Risk – Retail Reputational
• Leading Across Cultures and People Management
• Stakeholder Engagement
• Collections Strategy
• Communication and Influencing skills
• Product Knowledge
• Retail and Private Banking Credit Risk
• Experience and Knowledge of Retail Lending Products
• Leadership Skills
• Vendor Management
• Operational Risk Management
• Cost Management

Qualifications
EDUCATION

• Bachelors or Masters Degree
• Minimum experience of 10+ years in a risk role with exposure to multifaceted Country Collections operation experience

TRAINING

• Strong analytical capability with a proven track record of implementation
• Good knowledge of the products as well as Collections and recovery practices across markets
• Proven ability to drive and manage change. Be a change agent
• Demonstrated leadership in managing high performing teams to deliver on the agenda
• Strong communication and influencing skills

CERTIFICATIONS

• CRM, COLLECTION MANAGEMENT TRAINING, DIGITAL WORKSHOPS

LANGUAGES
 

• English