Position: Collections Manager
Department: Collections
Report To - CEO
Company Profile:
An international Company engaging in online consumer financing (Financial Technology – FinTech), who provides instant and premium financial solutions in response to the everyday and immediate financial needs of the Sri Lankan people, is looking for a Collections Manager.
Responsibilities:
- Oversees company’s process of retrieving money owed to the Company.
- Make sure employees comply with company policies when contacting individuals and other companies to collect past due balances that they owe.
- Ensures that all written correspondence complies with company policies in terms of verbiage and frequency of contact.
- Keeps up with changes in governing debt collections and makes sure employees receive training on any changes in laws.
- Make sure the collectors are properly following the collections manual when making phone contact with individuals and companies.
- Monitor call reports to make sure collectors are making enough phone contacts/ handle enough contracts each day.
- Identifies areas of the collection process that need improvement and implements an enhanced process that will help collectors be more effective.
- Tracks the rate of success of the entire process and continues to adjust when necessary.
- Trains new employees and holds training reviews for established employees.
- Performs audits of accounts that are in the system.
- Establishes quality control standards and maintains and enforces them over time.
- Guide employees on negotiations of payment arrangements.
- Research and locates missing information that is needed for the staff to perform their jobs at optimum levels.
- Review delinquency loan reports and initiate and/or make recommendations for remedial action as required with collectors and lawyers as necessary.
- Systematically follow up current non-performing and unsatisfactory accounts to reduce exposure and maintain loss experience to a minimum.
- Ensure that the management is informed immediately of any changes, system issues or customer difficulties that may be experienced in collections daily.
- Review and monitor the auto allocation system to assign accounts to collectors.
- Conduct fortnightly and final reviews with collection officers.
Qualifications & Requirements
ü Minimum of 5-10 experience in a Financial Institution in debt Recovery/Collections
ü Bachelor’s degree in business management, Credit Management, or a related field would be an added advantage.
ü Proven work experience as a collections Manager or similar role.
ü Strong analytical skills with the ability to interpret data and make data-driven decisions.
ü Sound knowledge of procedures and laws related to debt recovery.
ü Excellent written and verbal communication skills.
ü Strong organizational and time management skills, with the ability to handle multiple projects simultaneously.
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