Recovery Officer / Executive

The Recovery Officer/Executive is responsible for ensuring the timely recovery of overdue payments from clients/customers, maintaining healthy cash flow, and minimizing bad debts. The role involves direct communication with defaulters, negotiation for settlements, and adherence to company policies and legal guidelines during the recovery process.

Key Responsibilities:

1. Debt Recovery:
   
• Contact customers/clients with overdue accounts via phone, email, or in person.
• Develop strategies to recover outstanding dues within agreed timelines.
• Maintain a record of all communication and recovery efforts.
2. Customer Interaction:
   
• Negotiate payment plans or settlements where applicable.
• Provide information and assistance to customers to resolve their queries.
• Foster a professional and respectful relationship while dealing with clients.
3. Monitoring & Reporting:
   
• Track and monitor delinquent accounts to ensure resolution.
• Prepare and submit regular reports on recovery progress to management.
4. Legal Action Coordination (if required):
   
• Coordinate with the legal team for accounts requiring legal intervention.
• Ensure compliance with legal standards and company policies in all recovery activities.
5. Process Improvement:
   
• Suggest and implement improvements to the recovery process for better efficiency.
• Stay updated with industry practices and regulations related to debt recovery.

Key Skills and Competencies:

• Strong negotiation and communication skills.
• Ability to handle conflict and work under pressure.
• Sound knowledge of debt collection processes and legal guidelines.
• Proficiency in using collection and CRM software.
• Analytical and problem-solving abilities.

Qualifications and Experience:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Prior experience in collections, recovery, or a related domain (1-3 years preferred).
• Knowledge of local laws related to debt recovery.
• Ability to travel if required.