About the job
Collections Strategy Development:

○ Develop and execute effective collection strategies to ensure that the company’s loan

portfolios are recovered on time.

○ Create plans for different collection scenarios based on customer segments (e.g., new

customers, high-risk customers, etc.).

Team Management:

○ Lead, mentor, and manage the collections team at a national level. This includes setting

targets, evaluating team performance, and ensuring all team members are properly

trained.

○ Oversee the recruitment and training of new collections personnel.

Collection Process Optimization:

○ Continuously assess and improve collection processes to ensure efficiency, customer

satisfaction, and timely payments.

○ Implement technology solutions (like automated reminders, CRM systems, etc.) to

streamline collections efforts.

Risk Assessment & Mitigation:

○ Monitor and assess the credit risk of loan portfolios and implement strategies to reduce

default rates.

○ Coordinate with the credit risk and underwriting teams to ensure appropriate risk profiles

are maintained.

Regulatory Compliance:

○ Ensure all collections practices are in compliance with RBI guidelines and other regulatory standards.

○ Stay updated on the latest regulatory changes and incorporate them into the company’s operations.

Customer Engagement:

○ Develop customer-friendly communication strategies to encourage timely payments while maintaining a positive relationship with clients.

○ Handle high-risk or complex cases and oversee resolutions to ensure customer satisfaction and minimize defaults.

Reporting & Analytics:

○ Analyze data to measure collections performance, identify trends, and forecast future

collection needs.

○ Report on collection performance, write-offs, recovery rates, and other financial metrics to senior management.

Collaboration with Other Teams:

○ Work closely with risk, credit, operations, and legal teams to handle complex cases or

escalate issues as required.

○ Collaborate with product and tech teams to optimize the collection experience and

integrate best practices into digital platforms.

Legal & Recovery Actions:

○ Oversee the legal recovery process, if necessary, including coordinating with external

agencies, legal teams, and courts to recover debts.

○ Manage relationships with third-party debt collection agencies when the need arises.

Budgeting & Financial Forecasting:

○ Manage the department’s budget and set financial targets for collection efforts.

○ Forecast cash flow and ensure the timely recovery of loan amounts to support business

growth and profitability.

Tagged as: legal, recovery actions, regulatory compliance