Job Family Card - Collection and Recovery

Identify and recovers debts due to the organization. Collect both secured and unsecured debts that are in arrears. Contact customers with delinquent accounts and warns them that failure to pay will result in court proceedings. Improve recovery systems and collection tools in order to match business growth by keeping delinquency ratios within acceptable standard levels.

Job Family Code

ICR

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Job Roles

Card Job Role Description

Job Role

Collection Officer

Job Family Code

ICR

Job Family

Collection and Recovery

Responsibilities

    Contact debtors to advise on collection amounts and due dates to facilitate timely repayment and maximise collections.

    Keep debtors data and contact information and conduct research to track down debtors with missing or obsolete information.

    Provide debtors support and answer queries concerning terms and conditions of loan contract, late and default charges, and advise on recovery procedures.

    Prepare collection status reports and provide data on overdue payments, actions taken and results.

Card Job Role Description

Job Role

Senior Collection Specialist

Job Family Code

ICR

Job Family

Collection and Recovery

Responsibilities

    Develop payment schedules in collaboration with credit department and coordinate timely collection procedures accordingly

    Analyse loan performance, flag delinquencies and propose actions to prevent default.

    Contacts delinquent, charged-off, or high-risk customers in order to secure payment and determine reason for delinquency on active or inactive loan, deposit and/or credit card accounts.

    Coordinate repossession procedures with internal and external parties to mitigate loan losses.

    Prepare loan performance analysis providing information on timely repayments, prepayments, delinquencies and defaults.

Card Job Role Description

Job Role

Collection Manager

Job Family Code

ICR

Job Family

Collection and Recovery

Responsibilities

    Contribute to developing the organisation's collection and recovery criteria and develop related policies and procedures.

    Oversee payment and collection schedules and trend analysis of loan portfolio ensuring efficient and timely collection.

    Monitor delinquencies and ensure proper recovery measures in coordination with credit department to minimise defaults.

    Build relationships with key high value debtors, and identify suitable tactics to ensure timely payments.

    Liaise with legal whenever litigation is necessary, provide support until closure is final.

Card Job Role Description

Job Role

Head of Collection and recovery

Job Family Code

ICR

Job Family

Collection and Recovery

Responsibilities

    Contribute to the formulation of the overall organisation's strategy, in collaboration with others in the executive team, focusing on the organisation's Collection and Recovery function.

    Approve and ensure implementation of collection and recovery policies and procedures and ensure its efficiency.

    Manage collection and recovery and ensures its compliance to regulatory requirements as well as market standards.

    Manage and monitor collection and recovery budget for cost efficiency.

    Manage internal and external relationships and represent the organisation in all business matters related to collection and recovery.

    Ensure recovery plans are adequate and updated, and that legal actions are taken when necessary.

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