Unsecured Collection & Recovery Manager
Manage and lead -
Job Description : Financial
- To ensure the team handle all Unsecured NPL customer and to initiate legal action (Litigation) in order to improve NPL and in securing promise to pay in order to improve delinquency rate and increase of recovery / upgrades of NPL accounts. Unsecured products included Credit Card and Cash Financing i.
- Write Off- Secured / Unsecured - ensure the team to maximise Bad Debt Recovery collection for written off accounts (above 180 days past due) for Unsecured and Secured accounts in securing promise to pay in order to improve delinquency rate and increase
- Contribute to 30+ and 90+ delinquencies, driving NPL number and SP budgets, reducing/meeting departmental cost.
- Lead and manage the team to achieve the target, delinquencies, collector productivities & effectiveness for both Unsecured Collections & Bad Debt Recovery.
- To maximise Bad Debt Recovery collection for written off accounts (above 180 days past due) for Unsecured and Secured accounts.
- Manage and achieve the target indicator set in terms of delinquencies, recoveries, attempts, contacts, PTP kept and dollar collected.
- Contribute to meet department financial KPI and departmental cost.
- Submission of CSA / RRSA and other relevant reports within due date.
- Ensure strict adherence to all credit policies, procedures, BNM guidelines, information security and compliance matter. (PDPA, Banking Secrecy, etc.)
- Ensure that collection actions taken are within corporate guidelines and collection policies.
- Manage accounts in the Debt Manager to control flow through and to achieve the targeted delinquencies and recoveries.
- Monitor and manage the Unsecured DQ3 (CC & CashI - 60 to 89 dpd) portfolio to prevent accounts from turning NPL.
- Review Collection statistics and implement strategies to prevent flow through of accounts, control delinquencies, maximise bad debt recovery and minimise specific provisions.
- Review Debt Manager Collection System work queue daily and review Collectors proposal timely.
- Monitor Collectors performance closely and coach and guide weaker collectors to achieve KPIs sets.
- Manage staff resources and ensure smooth operations of the team daily.
- Attend to walk-in customers when necessary and all complaints lodged and ensure closure (GIFT).
- Assist to negotiate for settlement or instalment plan.
- Managing and obtaining approval for composite settlement or instalment plan.
- Handle and manage customer objection or issues escalated.
- Execute collection strategy to accelerate recovery.
Qualifications Experiences & Qualifications
- Manage and achieve the target indicator set in Collectors scorecard and department KPI.
- Develop staff to a higher level of performance through personal coaching; appraisals and training.
- Plan for continuity and succession of jobs by recognising and developing staff potentials.
- Implement new initiatives to constantly improve Employee Satisfaction; maintain high morale of staff and retain good performers in the team.
- Take on ad hoc projects and/or special tasks assigned by Unit Head and Department.
Back up other colleagues during their absence.
- Able to lead and inspire a team to achieve delinquency and productivity targets
- Hands-on experience in Collection, Litigation and Recovery process
- Strong knowledge and practical experience on litigation process and understanding of regulatory requirements
- Practical knowledge and experience on Unsecured / Secured products with Collection & Recovery systems
- Pleasant disposition with good interpersonal and communication skills
- Good negotiation skills
- Possess strong communication and inter-personal skill
- Strong in process and workflow management to achieve higher efficiencies
- Relevant tertiary or Diploma qualification or equivalent.
- Minimum 3 years of Collection experience in Unsecured Product and/or Litigation.
- Knowledge and experience in recovery
- Proficient in English and good writing skills
- Positive attitude together with initiative and able to work independently
- Able to motivate team towards achieving goals
- Good knowledge of Microsoft Words, Excel, and PowerPoint