• Full Time
  • Anywhere

Job Description-

  • Formulate strategy for the Collections function in the region across all products
  • Participate in business reviews conducted for Collection on a periodic basis and recommend for course correction wherever required
  • Develop detailed plans for collections function including overall cost, manpower requirements, geographic spread, etc. and present to the CEO for approval
  • Develop plans for managing collections within defined bounce buckets and ensure there are contingency plans for emergent situations
  • Ensure collections field team is being supported with required guidance and check whether collections agencies are there in the area. And accordingly plan the capacity
  • Formulate strategy, along with the supervisor, for reduction in collections related expenses and loan losses as well as increasing penal interest collections
  • Define targets for penal interest collection & recoveries, develop action plans to achieve the set targets, and seek sign off from supervisor
  • Scan the market, identify best/ innovative practices in collections and drive initiatives for minimizing losses and maximizing recovery from delinquent customers
  • Ensure geographic expansion of Collections team in line with business expansion to ensure front end reach and thereby maximum collection in the earlier buckets itself\
  • Guide the team to identify collection agencies, evaluate capabilities and negotiate for partnership to drive high collections
  • Design and propose incentives for collection agencies & officers to ensure they remain incentivized to maximize the collections.
  • Periodically review performance of collections agencies enlisted, provide performance feedback to ensure desired service levels and on target performance
  • Monitor collections for various defined buckets, (bucket x, 1, 2, 3) identify issues/ challenges faced by collections officers/ agencies in driving collections and provide resolution for them
  • Deploy different set of new approaches for different markets based on risk and delinquencies and create capacity for future bounces in alignment with the approved budgets
  • Set guidelines for team in terms of approach to achieve collections targets and review their performance on a timely basis to ensure overarching business and profitability goals are achieved

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