Collection Recovery Assistant Manager

Job Title: Collection and Recovery asst. Manager Location: Delhi Position Type: Full-time Salary: As per Industry standards Job Summary: The Collection and Recovery Manager plays a pivotal role in leading and overseeing debt collection and recovery operations. In this position, the manager will be responsible for developing and implementing comprehensive strategies, managing a team of collection executives, collaborating with various departments, and ensuring efficient recovery processes. The role involves strategic planning, negotiations, legal compliance, and maintaining detailed records of all collection and recovery activities. Key Responsibilities: 1. Leadership: Provide leadership and direction to the collection and recovery team, ensuring efficient and effective debt recovery processes. 2. Strategy Development: Develop and implement robust debt collection and recovery strategies to optimize recovery rates while maintaining customer-centric practices. 3. Team Collaboration: Foster collaboration with the Accounts, Credit, and Legal departments to streamline collection efforts and resolve complex cases. 4. Communication: Oversee and guide the team in contacting debtors to initiate negotiations, discussing repayment options, and maintaining a professional approach. 5. Research Management: Supervise research activities to track down defaulting customers, utilizing publicly available databases, credit bureau information, background checks, and loan documents. 6. Negotiation and Settlements: Lead negotiations with debtors to establish manageable debt repayment plans and settlement agreements, aiming to prevent repeated delinquency. 7. Record Keeping: Ensure meticulous record-keeping of all communications, payment plans, and amounts paid by debtors, both in hard copy and electronic formats. 8. Reporting: Manage the preparation and submission of regular statements of delinquencies and satisfied debts to the Credit Bureau, ensuring accurate record purging when debts are settled. 9. Legal Compliance: Oversee the initiation of legal and repossession proceedings as a last resort, ensuring compliance with all applicable laws and regulations. 10. Team Development: Provide training and guidance to the collection team, fostering skill development, and maintaining a positive and productive work environment. Qualifications: - Bachelor's degree in Finance, Business, or a related field (preferred). - Significant experience in debt collection and recovery is required. - Strong leadership, negotiation, and communication skills. - In-depth knowledge of relevant laws and regulations governing debt collection. - Excellent attention to detail and organizational skills. - Proficiency in using collection software and database tools. - Ability to work independently and collaboratively in a team environment. - Ethical and professional conduct when dealing with debtors.