Collections Specialist
1 month ago
The Role will support the development, optimization, and execution of collections strategies across Unsecured Products.
This role is integral in managing vendor and employee incentives, tracking customer communication effectiveness, refining collection models, and creating insightful dashboards for performance monitoring.
The position will collaborate closely with the Business Intelligence team and other stakeholders to enhance collections efficiency and ensure the continuous improvement of recovery processes.
Additional Skills (Preferred):
- Experience with regulatory reporting, particularly in the context of NBFCs in India (e.g., Bureau reporting for OTS, suit cases).
- Familiarity with collections MIS
- Knowledge of India’s regulatory framework related to collections, such as RBI guidelines and other compliance requirements for NBFCs.
- Prior working knowledge with Large Data especially with NBFCs
Roles and Responsibilities
Digital Communications to Customers:
- Develop and implement digital communication strategies (e.g., SMS, email, automated calls) for effective customer engagement during the collections process.
- Monitor the impact of digital communication strategies on customer responses and adjust approaches based on feedback and results.
Collaboration with Business Intelligence Team:
- Work closely with the Business Intelligence (BI) team to fine-tune and enhance collections models, integrating data-driven insights to improve recovery processes.
- Assist in refining risk segmentation models, predictive analytics, and scoring models to ensure optimized collections strategies.
MIS Development & Dashboards:
- Develop and maintain comprehensive Management Information System (MIS) reports and dashboards to monitor collections performance.
- Provide insights to senior management through timely and accurate reporting, facilitating data-driven decision-making.
Process Improvement & Innovation:
- Identify opportunities for process improvement in collections operations and leverage new technologies or strategies to enhance recovery efforts.
- Stay updated on industry trends and best practices in collections and recovery management to bring innovation into the team’s approach.
Strategic Contributions to Collections Initiatives:
- Assist in the development and execution of various collections strategies, working closely with cross-functional teams to ensure alignment with business goals.
- Continuously assess the effectiveness of existing collections tactics and recommend improvements to reduce non-performing assets (NPAs) and increase recovery rates.
Vendor Pay-out, Incentive & Booster Management:
- Oversee and manage vendor pay-outs, incentives, and boosters, ensuring that performance metrics align with collections objectives.
- Regularly evaluate vendor performance to ensure targets are met and recommend adjustments to incentive structures to drive better results.
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