COLLECTION OFFICER

Key Responsibilities :

1. Debt Recovery :

   • Contact customers with overdue accounts via phone, email, or in-person visits to collect outstanding payments.
   • Negotiate repayment plans and settlements while adhering to company policies.

2. Account Management :

   • Analyze delinquent accounts and prioritize recovery efforts based on account status and value.
   • Maintain an accurate record of all collection activities in the company database.

3. Customer Relationship Management :

   • Handle disputes or queries from customers professionally to ensure a positive resolution.
   • Educate customers about payment terms and the consequences of non-payment.

4. Compliance & Legal Coordination :

   • Ensure all collection efforts comply with legal regulations and company guidelines.
   • Collaborate with legal teams on escalated accounts for further action when necessary.

5. Reporting :

   • Prepare and submit daily, weekly, and monthly reports on collections performance and challenges.
   • Provide feedback and suggestions to improve collection processes and strategies.

6. Team Collaboration :

   • Coordinate with sales, customer service, and finance teams to resolve account issues.
   • Participate in team meetings to discuss performance and share best practices.

Qualifications and Skills :

• Education : Bachelor’s degree in Finance, Business Administration, or a related field.
• Skills :
  • Strong negotiation and persuasion skills.
  • Excellent communication and interpersonal abilities.
  • Ability to remain professional and calm under pressure.
  • Proficiency in MS Office and familiarity with CRM systems.
  • Knowledge of debt recovery laws and regulations is a plus.

Key Performance Indicators (KPIs) :

• Percentage of overdue payments collected.
• Reduction in the number of delinquent accounts.
• Recovery rate within designated timeframes.
• Accuracy and timeliness of collection reports.
• Customer satisfaction during recovery interactions.