Collection Officer

To manage the collections process for a set of delinquent accounts within a location, working with non-performing defaulting borrowers to create optimum recovery solutions.

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Other Quantitative and Important Parameters for the job: Budgets/ Volumes/No. of Products/Geography/ Markets/ Customers or any other parameter

Collections Resolutions – Ensure recovery of overdue monies in various buckets as per targets and expectations rolled out by Central Strategy Team

Negotiation skills – Direct interaction with Overdue Customers and maximize collections basis underlying bucket-level collections philosophy

Aditya Birla Finance Limited (ABFL) is a lending subsidiary of Aditya Birla Capital Limited. ABFL is registered with RBI as a Systematically Important Non-Deposit accepting Non-Banking Finance Company (NBFC). ABFL is one of the top private diversified NBFCs in India. As of 31-Dec’20, ABFL has a pan-India presence with 91 branches and a lending book of Rs. 45,560 Crores.

ABFL offers end-to-end lending solutions to a diverse set of customers - Retail, HNI, MSMEs, and Mid & Large Corporates through secured as well as unsecured loan products. The diverse range of lending products includes Retail Small Ticket Secured and Unsecured Loans, Unsecured Personal Loans, Unsecured Business Loans, Health & Education Loans, Digital B2B2C and B2B2B Small Ticket Loans, Small Business Secured Loans, Loans Against Property (LAP), Lease Rental Discounting (LRD), Construction Finance (to Real Estate Developers), SME Loans, Capital Markets Loans (Loan Against Shares), Supply Chain Finance, Mid and Large Corporate Loans, and Infrastructure Finance loans. ABFL also has a Wealth Management division.

ABFL is rated “AAA” by India Ratings, ICRA and CARE (reaffirmed in 2020). ABFL secured the ABG Business Excellence Award in 2017 (Silver), and 2015 (Bronze), and multiple other Awards on forums like CII

The Risk & Compliance is engaged in formulating credit risk policies for all ABFL businesses, carries out risk assessment of credit proposals, obtains credit decisions from Credit Committees, monitors credit exposure and carries out recovery of over dues. It formulates risk policies in association with Central Risk, ABFSG for overall risk management in ABFL.

Credit / Loan proposals prepared by Business Credit team are critically analyzed from credit risk perspective and the proposals along with Risk Assessment Sheet are put upto to Credit Committee for approval. While carrying out critical evaluation of the credit proposal the function also carries out evaluation of the risk mitigants in the credit proposal like the nature and the quality of the collateral, adequacy of the collateral, acceptability of the collateral given the regulatory and the compliance needs.

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The Risk & Compliance function carries out monitoring of client wise exposure and portfolio exposure to identify ‘early warning signals’ of stress and to minimize NPAs. Currently monitoring is done in association with Business Teams as RMG does not have presence at Branch level. It carries out over due loan recovery from defaulting clients in coordination with Business Teams.

To enable enhanced business profitability through the effective management of the delinquent portfolio of Retail Lending Loans in the City / Cities managed

To achieve the desired collections efficiencies across products managed

Ensure that adequate Collections Intensity of follow up is executed for all Delinquent accounts

Continuously review the location portfolio and report Early Stress Accounts / Potential Delinquent customers to ACM/ RCM / Head – Collections & RISK team.

Ensure that all Collections Activities are properly documented in the form of Collections Trails

Ensure that all Collections Processes & Risk Governance Mandates rolled out are completely adhered to at each location.

Negotiate on critical delinquent accounts and obtain repayments to minimize losses.

Liaison with Legal / law enforcement agencies for speedy recovery of delinquent/write off cases.

Provide feedback on the effectiveness of Collections Strategies formulated and implemented.

Coordination with legal team for all collection’s legal cases.

Manage the collections process at a Location / City level, streamlining operations and working to minimize the costs of default and bad debt

Achievement of desired Collections Efficiency

Monitor customer accounts delinquent in the city / cities managed, identifying and flagging likely cases of default or delayed payment

Work with non-performing\delinquent borrowers to create optimum recovery solutions.

Ensure that all documentation related to the collections process is maintained in accordance with internal norms and regulatory requirements.

Respond to customer complaints regarding the collections process, taking steps to ensure a satisfactory outcome for both ABFL as well as its customers.

Ensure that all collections attempts are recorded as Feedback Trails on the Collections Management System.

Thorough understanding of Collections philosophy in each Delinquency stage / bucket and usage of appropriate collections tools including not limited to legal actions, settlements, restructuring etc

100% compliance to Collections Process detailed in the SoP.