Collection Team Leader

Job Description: Team Leader for Collection Job Title: Team Leader – Collections Process – Cred Job Summary: The Team Leader for Collection Tele Callers is responsible for managing, mentoring, and guiding a team of tele callers to meet and exceed collection targets. This role involves monitoring team performance, ensuring adherence to company policies, and fostering a positive work environment to optimize productivity. Additionally, the Team Leader will monitor and address attrition and shrinkage within the team to ensure operational efficiency and stability. Key Responsibilities: 1. Team Management: • Supervise, guide, and motivate a team of collection tele callers to achieve individual and team performance goals. • Conduct regular one on one meetings to address performance, challenges, and development needs. • Monitor attendance and resolve any scheduling or staffing issues to maintain team availability. 2. Performance Monitoring and Reporting: • Track and analyse key metrics, including calls made, collections achieved, and resolution rates. • Prepare detailed performance reports, including attrition and shrinkage analysis, for senior management. 3. Attrition Management: • Identify and address reasons for employee turnover by fostering a supportive and engaging work environment. • Conduct exit interviews to gather feedback and implement retention strategies. • Create succession plans to fill critical gaps caused by attrition quickly and effectively. 4. Shrinkage Management: • Monitor shrinkage rates (e.g., absenteeism, unproductive hours) and implement corrective actions to minimize downtime. • Develop contingency plans to ensure adequate staffing during peak periods or unexpected absences. 5. Training and Development: • Train new team members on collections techniques, negotiation strategies, and company systems. • Organize periodic skill enhancement sessions and keep the team updated on compliance regulations. 6. Quality Assurance: • Audit calls to ensure team adherence to company policies, scripts, and ethical debt collection practices. • Provide constructive feedback to improve communication skills and customer interactions. 7. Conflict Resolution: • Address escalations from customers or tele-callers and resolve disputes effectively. • Act as a liaison between the team and management to address any operational or individual issues. 8. Strategic Planning: • Collaborate with management to set realistic collection targets and plan strategies for achieving them. • Identify improvement areas within the team and implement corrective actions promptly. 9. Customer Service Excellence: • Ensure the team maintains professionalism and empathy during interactions with customers. • Support in handling high value or sensitive accounts that require special attention. 10. Compliance and Documentation: • Ensure the team complies with company policies, debt collection regulations, and legal requirements. • Oversee accurate documentation and updates in the collections system. Qualifications and Skills: • Bachelor’s degree in Business Administration or a related field preferred. • 3-5 years of experience in NBFC collections with at least 1-2 years in a supervisory position. • Knowledge of attrition and shrinkage management practices and their impact on team performance. • Strong leadership and team management skills. • Excellent verbal and written communication skills. • Proficiency in using collections software, CRM tools, and Microsoft Office Suite. • Thorough understanding of collections practices and relevant regulations. • Ability to motivate a team, handle pressure, and meet tight deadlines. • Exceptional problem solving and conflict resolution skills. • Bilingual skills (English and another language) are an advantage. Performance Indicators (KPIs): • Team collection targets achieved. • Attrition and shrinkage rates managed within acceptable limits. • Percentage of successful negotiations. • Customer satisfaction ratings. • Compliance adherence rate. • Call and follow up efficiency metrics.