Hiranandani Financial Services - Collections Analyst (3-5 yrs)

The Collections Analyst will be responsible for developing and executing strategies to optimize recovery processes, reduce delinquency rates, and enhance the overall efficiency of the collections department.

This role involves analyzing collection data, forecasting collections targets, collaborating with cross-functional teams, and ensuring compliance with regulatory requirements.

Key Responsibilities:

Strategy Development & Execution:

- Develop and execute comprehensive strategies to optimize recovery processes and reduce delinquency rates.

- Monitor and analyze key performance metrics such as roll rates, collection efficiency, and DSO (Days Sales Outstanding) to drive continuous improvements.

Data Analysis & Forecasting:

- Analyze collection data using advanced analytics to identify trends and provide actionable insights for improvement.

- Conduct projections and forecasts of collections targets based on historical data and industry trends.

Reporting & Performance Monitoring:

- Maintain accurate and timely reporting through effective MIS (Management Information Systems) for the collections department.

- Design and implement scorecards and KPIs to track and evaluate collection performance.

Collaboration & Alignment:

- Collaborate with credit, risk, and operations teams to ensure alignment of collection strategies with overall business goals.

- Review and enhance collection policies, implementing industry best practices for improved outcomes.

Training & Coaching:

- Provide training and coaching to collection teams to enhance their performance and ensure adherence to strategies.

Process Optimization:

- Leverage automation and data analytics tools to improve collections processes and operational efficiency.

Compliance & Agency Management:

- Ensure compliance with regulatory requirements and monitor the performance of external collection agencies.

Management Reporting & Strategy Presentation:

- Present insights, strategies, and recommendations to senior management and stakeholders.

Skills & Qualifications:

Educational Background:

- Bachelor's degree in Business, Finance, or related field.

Experience:

- 3-5 years of experience in collections or credit risk management, preferably in the financial services or banking sector.

Key Skills:

- Strong analytical skills with the ability to interpret complex data and trends.

- Experience with MIS reporting and performance metrics tracking.

- Knowledge of collection strategies, policies, and best practices.

- Familiarity with automation and data analytics tools to improve collections efficiency.

- Strong communication and interpersonal skills to collaborate with internal teams and present findings to senior management.

Competencies:

Ability to work independently and drive results in a fast-paced environment.

Detail-oriented with a focus on continuous improvement.

Strong problem-solving skills and the ability to identify solutions based on data insights