Collections Manager

A collections manager's job includesleading a collections team, developing strategies for debt recovery, ensuring legal compliance, and monitoring performance to achieve collection targets. Key duties involve managing staff, analyzing delinquent accounts, negotiating with customers, and reporting on collection activities and key performance indicators (KPIs) to senior management. This role requires strong leadership, communication, and analytical skills to improve efficiency and maintain the bank's financial health.

Key responsibilities:

• Team management:

  Oversee, train, and motivate a team of collections staff to meet individual and departmental goals.

• Strategy and process development:

  Create and implement strategies, policies, and procedures to improve debt recovery efficiency and reduce delinquency.

• Account management:

  Monitor and analyze delinquent accounts, track portfolio performance, and identify trends.

• Customer and agencyliaison:

  Communicate with customers to resolve issues and negotiate payment plans. Manage relationships with external collection agencies.

• Compliance and legal:

  Ensure all collection activities comply with relevant laws, regulations, and company policies. Recommend legal action for non-recoverable accounts.

• Reporting and analysis:

  Prepare and present regular reports on collection performance, key performance indicators (KPIs), and trends to senior management.

• Problem resolution:

  Handle escalated collections issues and collaborate with other departments (like legal and customer service) to streamline processes.