Collections Manager

Job Description

We are seeking a highly organized and result-oriented Collections Manager to oversee our collections department. As a Collections Manager, you will be responsible for developing and implementing strategies to effectively manage and collect outstanding debts owed to our organization. The ideal candidate will have a strong background in collections, excellent communication skills, and the ability to lead a team to achieve business goals.

Roles & Responsibilities

• Develop and implement effective collection strategies and procedures to maximise debt recovery while maintaining positive customer relationships.
• Selection, empanelment and management of a team of collection agents and agencies, providing guidance, support, and training as needed.
• Work along with RMs / Merchants and internal and external stakeholders as needed
• Monitor and analyse the performance of the collections team / agency, implementing measures to improve productivity and success rates.
• Review and evaluate delinquent accounts, determining appropriate actions to be taken in accordance with company policies and legal requirements.
• Communicate with customers regarding their outstanding debts, negotiating payment plans, settlements, or other resolutions.
• Apply various generic or proprietary tools to do skip tracing of non-contactable customers
• Maintain accurate and up-to-date records of all collections activities, ensuring compliance with regulatory guidelines and internal policies.
• Collaborate with cross-functional teams, including legal, finance, and customer service, to resolve complex or escalated customer issues.
• Ensure collection policy/procedure follows Compliance and Regulatory requirements. Eg. Debt Collection Act, BOT regulation, etc.
• Prepare regular reports on collections activities, presenting data and insights to Senior Management

Skills & Experience Requirements

• Strong knowledge of collections practices, laws, and regulations.
• Excellent verbal and written communication skills, with the ability to effectively negotiate and persuade customers to resolve outstanding debts.
• Proven leadership skills, with the ability to motivate and guide a team to achieve targets and deadlines.
• Exceptional organisational and time management skills, with the ability to prioritise and handle multiple tasks simultaneously.
• Analytical mindset, with the ability to analyse data, identify trends, and make data-driven decisions.
• Proficiency in using collections software and systems.
• Strong problem-solving skills, with the ability to think creatively and find innovative solutions to collections challenges.
• Excellent attention to detail, ensuring accuracy in all records and communications.
• Strong interpersonal skills, with the ability to build and maintain positive relationships with customers and colleagues.

Education Requirements

• Bachelor's degree in business administration, finance, or a related field preferred.
• Minimum of 3-7 years of experience in collections, preferably in a supervisory or managerial role.
• Knowledge of legal and regulatory requirements related to collections, including fair debt collection practices.
• Proficiency in using collections software and systems.
• Good command of written and spoken English.