Credit Recovery Manager

Role & responsibilities

1. Debt Collection Strategy:

• Develop and implement effective debt recovery strategies to reduce delinquency rates and recover overdue payments.
• Set up clear procedures for debt collection and ensure their effective implementation across the team.

2. Client Relationship Management:

• Communicate professionally with clients to resolve outstanding balances while maintaining a positive relationship.
• Conduct negotiations with clients regarding payment plans or other payment solutions when necessary.

3. Team Leadership and Supervision:

• Supervise, train, and support a team of debt recovery agents.
• Set targets for the team and monitor their performance to ensure collection goals are met.

4. Risk Assessment and Compliance:

• Evaluate credit risks and make recommendations on credit limits and collection strategies.
• Ensure compliance with all local and national regulatory requirements related to debt collection and credit management.
• Visit police stations as necessary to file FIRs (First Information Reports) in cases of vehicle theft or misconduct related to company assets.
• Ensure all required documentation is prepared and submitted for FIR filing, and follow up with law enforcement as needed to facilitate recovery or further action.
• Maintain records of filed FIRs and coordinate with the legal and operations teams to support investigations and resolutions related to asset recovery.

5. Reporting and Analysis:

• Track and report on collection activities, outstanding debts, and cash flow performance.
• Analyze collection data to identify trends and areas for improvement in the recovery process.

6. Collaboration:

• Work closely with the finance, sales, and legal departments to develop risk mitigation strategies and resolve complex cases.
• Coordinate with legal teams for cases requiring legal actions, such as litigation or write-offs.

7. Process Improvement:

• Continuously review and improve collection processes and policies to increase efficiency and effectiveness.
• Stay updated on best practices in credit recovery and integrate new techniques into the team's operations.

Preferred candidate profile

• Leadership: Ability to lead, motivate, and develop a high-performing recovery team.
• Negotiation: Skilled in negotiating payment terms and managing sensitive client relationships.
• Communication: Clear and professional communication, both written and verbal.
• Analytical Thinking: Strong analytical skills to assess risk and optimize recovery strategies.
• Detail-Oriented: Accuracy and attention to detail in tracking accounts and reporting.
• Resilience: Ability to handle difficult conversations and high-stress situations
• Proven experience in credit management, debt recovery, or a related field.
• Strong negotiation and communication skills.
• Proficiency in financial software and Microsoft Office Suite.
• Excellent analytical and problem-solving abilities.
• Ability to lead a team and manage high-pressure situations.
• Knowledge of relevant legal and regulatory requirements related to debt collection.
• Proven experience in credit management, debt recovery, or a related field.
• Strong negotiation and communication skills.
• Proficiency in financial software and Microsoft Office Suite.
• Excellent analytical and problem-solving abilities.
• Ability to lead a team and manage high-pressure situations.
• Knowledge of relevant legal and regulatory requirements related to debt collection.

Qualifications:

• Bachelors degree in Finance, Business Administration, or a related field; MBA or advanced degree preferred.
• Bachelor’s degree in Finance, Business Administration, or a related field; MBA or advanced degree preferred.