Vacancy title:
Collection Manager
Jobs at:
Financial InstitutionDeadline of this Job:
Thursday, September 26 2024
Summary
Date Posted: Thursday, September 12 2024, Base Salary: Not Disclosed
JOB DETAILS:
Key Duties and Responsibilities:
1. Debt Recovery Strategy:
• Develop and implement effective debt recovery strategies to optimise the recovery of outstanding debts.
• Oversee the issuance of demand letters, filing of legal claims, and enforcement of judgements for debt recovery cases.
• Collaborate with internal collections teams and external agencies to ensure the timely resolution of debt recovery matters.
• Negotiate settlements, payment plans, and other recovery agreements with debtors.
• Monitor and report on the performance of debt recovery efforts, identifying and addressing challenges in the process.
• Reviewing the company debtor list and advising team members on how to manage or collect the debts.
• Leading the team and training them on how best to talk to customers and informing them of their overdue bills.
• Advising customers on their payment options and suggesting methods of payments.
• Making reports and Maintaining customer payment recovery.
• Instituting legal action when customers fail to pay their debt.
• Responding to customer queries.
• Provide legal advice to internal stakeholders on matters related to credit risk, collections, and dispute resolution.
• Draft and review legal agreements, contracts, settlement agreements, and other relevant documentation.
• Ensure that all legal actions and recovery efforts comply with internal policies, industry regulations, and best practices.
• Keep the organization updated on relevant legal developments and changes in debt recovery laws and regulations.
• Minimize losses while cost effectively estimating probability of successful recovery and implementing decisions on a course of action.
• Maintain telephone and direct contact with borrowers and guarantors according to established guidelines and standards to ensure prompt payment.
• Manage collection efforts with a high level of persuasiveness & professionalism.
• Maintain positive customer relationship and minimize bad debt exposure.
• Using the verbal skills and communication techniques taught to manage people to the point public opinion remains in favour of our clients.
• Support the credit officers in the collection activities.
• Record information about financial status of borrowers and status of collection efforts.
REQUIREMENTS:
• Bachelor’s degree in Economics, Business Administration, Finance, Law, or any related field
• Proven experience in debt recovery for micro-finance, Bank or a related field is added advantage.
• Full Grade twelve school certificate.
• Excellent communication and interpersonal skills.
• Strong problem-solving abilities and attention to detail.
• Ability to handle sensitive situations with empathy and professionalism.
• Ability to maintain field and office duties
• Proficiency in using Microsoft Windows and office software and other relevant tools.
• A proactive and results-driven mindset.
• Knowledge of credit policy/procedures and governance, and regulatory requirements related to Debt Recovery management
Key Competencies:
• Litigation Expertise: Strong understanding of legal processes, court procedures, and dispute resolution strategies.
• Debt Recovery Skills: Proven experience in developing and executing debt recovery strategies, including settlements and enforcement actions.
• Risk Management: Ability to identify and mitigate legal risks related to litigation and debt recovery.
• Communication: Strong verbal and written communication skills, with the ability to convey legal concepts clearly to non-legal stakeholders
Job Experience: No Requirements
Work Hours: 8
Experience in Months:
Level of Education: Bachelor Degree
Job application procedure
Interested in applying for this job? Click here to submit your application now.
All Jobs
Join a Focused Community on job search to uncover both advertised and non-advertised jobs that you may not be aware of. A jobs WhatsApp Group Community can ensure that you know the opportunities happening around you and a jobs Facebook Group Community provides an opportunity to discuss with employers who need to fill urgent position. Click the links to join. You can view previously sent Email Alerts here incase you missed them and Subscribe so that you never miss out.