Collection Team Leader

Dear Candidates, Job Title: Loan Recovery / Loan Collection Team Leader Department: Collections Reports To: Collections Manager / Head of Operations Location: Thane West Job Type: Full-time Experience : Minimum 6 Months Qualification : Minimum SSC Passed Salary : 20000 to 35000 Monthly Job Purpose : The Loan Recovery / Loan Collection Team Leader will be responsible for leading, managing, and developing a high-performing team of loan recovery agents to ensure the timely recovery of outstanding loans. This role involves strategic planning, setting team goals, optimizing collection processes, training team members, and fostering relationships with clients to improve business performance. The Team Leader will also drive compliance with company policies, regulatory requirements, and industry best practices. Key Responsibilities : Team Leadership and Management Lead, manage, and motivate a team of loan recovery agents to achieve set performance targets and KPIs. Establish clear team goals and expectations, regularly monitoring progress and providing guidance to ensure successful outcomes. Conduct regular one-on-one meetings with team members to provide feedback, coaching, and career development support. Implement performance improvement plans for underperforming team members, including structured training and monitoring. Foster a positive, collaborative, and results-driven team environment. Operational Excellence Develop, execute, and refine loan recovery strategies to minimize bad debt and ensure timely collections. Ensure team adherence to all regulatory and compliance guidelines, including internal policies, legal requirements, and industry standards. Continuously evaluate the team's processes and workflows to identify areas for improvement, driving efficiency and reducing delays in collections. Implement collection tactics, including negotiations, legal action where necessary, and engagement with third-party collection agencies. Business Development and Relationship Building Build strong relationships with clients, customers, and stakeholders to encourage loan repayment and resolve disputes. Act as a point of escalation for complex or high-value collections issues. Identify opportunities for cross-selling or upselling other company products or services during client interactions. Partner with sales, marketing, and customer service teams to create cohesive business strategies that address customer needs and improve retention. Training and Development Organize and deliver ongoing training sessions for the team on best practices in loan recovery, communication strategies, and regulatory changes. Promote a culture of continuous improvement by introducing new tools, techniques, and industry trends to enhance team performance. Reporting and Analytics Monitor and analyze team performance metrics, identifying trends, challenges, and opportunities for improvement. Prepare regular reports on collections progress, identifying key issues and recommending actionable solutions to senior management. Maintain accurate records of all collections activities and loan recovery status. Qualifications and Skills Required Qualifications: Proven experience in loan recovery, collections, or credit management, with at least 6 Months in a leadership role. In-depth knowledge of loan recovery processes, financial products, credit risk management, and legal procedures related to collections. Strong leadership and team-building skills, with the ability to inspire and manage a diverse team. Excellent communication and negotiation skills, both written and verbal. Strong analytical and problem-solving abilities. Ability to work under pressure, prioritize tasks, and meet deadlines. Desirable Skills: Experience in a financial institution, bank, or lending company is a plus. Knowledge of debt collection software and tools. Strong understanding of relevant industry regulations and compliance standards. Experience in business development and client relationship management. Ability to handle escalated situations with tact and professionalism. Key Competencies Leadership: Demonstrates the ability to motivate and guide a team to achieve high levels of performance. Communication: Able to communicate clearly, assertively, and persuasively with both internal and external stakeholders. Negotiation Skills: Strong skills in negotiating favorable terms for loan repayment while maintaining positive relationships with clients. Analytical Thinking: Capable of analyzing data and trends to inform decision-making and improve recovery strategies. Problem-Solving: Creative in addressing challenges and coming up with practical solutions for both routine and complex issues. Limited vacancies are available so hurry up and apply for it. Warm Regards, VGM Associates.