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Bajaj Finance
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Deputy Area Manager - Debt Management Services

Deputy Area Manager - Debt Management Services

Bajaj Finance

1 - 2 years

3 - 4 Lacs

gondal

Posted:None| Platform:

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Skills Required

debt management recovery management recovery operations debt operations collections management

Work Mode

Work from Office

Job Type

Full Time

Job Description

Job Purpose
To assist the organization in collecting outstanding dues and Non-Performing Loans (NPLs) for DMS- The Wheels 2W/3W across all payment buckets, aiming to reduce outstanding amounts.

Duties and Responsibilities
1. Managing Collection TargetsEnsure adherence to collection schedules.Attain EMI and penalty collection objectives.Reposition vehicles in cases of defaults.Close cases by securing settlement amounts.Explore diverse customer communication approaches for effective recovery.2. Vendor ManagementAppoint collection agencies.Strategize and allocate tasks to agencies.Conduct on-site checks to validate procedural adherence.Ensure prompt payment deposits by Field Officers (FOS).Guarantee timely payments to vendors as per the schedule.Conduct training sessions for agents working with vendors.3. Executing Recovery ProceduresInitiate customer calls for debt recovery.Ensure team compliance with Standard Operating Procedures (SOPs) during customer interactions.Gather customer feedback to improve the collection process.Conduct training sessions to enhance the team's collection s.4.Stakeholder ManagementConduct regular stakeholder reviews.Align stakeholders with the collection strategy.Realign case priorities based on defined deliverables and objectives.4. 5. Team ManagementParticipate in recruitment process to identify right talent for various roles in the teamIdentify high potential talent and provide opportunity to groom them for future rolesProvide ongoing coaching, mentoring, and performance feedback to ensure the team's success.Set clear targets, train motivate the team, and foster a positive and collaborative work environment.

Key Decisions / Dimensions
Following decisions are taken by the role:Appointment of Vendors

Major Challenges
Managing assertive customers in defaultDealing with deliberate defaultersSustaining a high team morale

Required Qualifications and Experience
a) QualificationsGraduate in any streamb) Key s requiredMinimum 8-10 years of work experience in a finance industry in recoveries of two wheelersExperience of managing a team is requiredCommunication s Stakeholder ManagementGood knowledge and connect with legal entitiesLeadership qualitiesResult Oriented MindsetGood team playerMotivation s

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Deputy Area Manager - Debt Management Services