Collections manager
the collections manager is responsible for performing loss mitigation and recovery activities regarding delinquent or charged-off accounts in accordance within the legal guidelines, including related state and federal regulations.
this position is typically aligned with the routine outbound collections calling and field visitation process and frequently requires guidance on non-routine situations; ensures attainment of individual, department wide goals to minimize loss and enhance loss recovery. Creates strategies in driving the collection activities by utilizing various systems and methods.
job objectives:
* to control and manage debt within the country.
* to provide guidance and support to the team in pursuit of goals
* develop and enforce collections policies and procedures.
* develop and monitor high quality staff.
performance measures: - provision movements and bad debt charge associated
- portfolio roll rates
- % of accounts considered good, doubtful and high risk
- payments received in month as percentage of installments / payment due
- collection performance (volume and value) of field collection
- turnaround and closure of outstanding audit issues
responsibilities:
1. develop and implement collections strategies that are tailored for specific customer segments.
2. undertake customer segmentation.
3. provide mis, tracking performance, customer segments and portfolio rates.
4. advanced practical knowledge of auto dialer system and ivr
5. oversee the calling, tracing and collection of dues.
6. problem solving & trouble shooting of collection issues
7. oversee and manage staffing matters.
8. liaise with other operating departments on issues and problems.
9. ensure internal policies and procedures adhere to legal and regulatory requirements.
10. ensure business practices achieve service quality standards and conform with internal policy requirements.
11. provide feedback to management on process improvements for the collections function
12. monitor and review the overall performance of branches and implement interventions where necessary.
13. monitor and supervise collection reports on a regular basis.
14. conduct scenario analysis for issues that may potentially impact the business
15. organize collaboration with collection agencies, implementation of proper placement strategy and performance measurement