Am - Collections

4 weeks ago


Mumbai, India HSBC Full time

**Some careers open more doors than others.**

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

**Wealth and Personal Banking **is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC’s wealth revenues grew 12% in 2019 (year-on-year) to USD5.7 billion. Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking that best suit our customers’ needs.

We are currently seeking an experienced professional to join the INM WPB team.

**Role Purpose**
- Be the Virtual Relationship Manager for Debt Collection Agency / Agencies (DCA).
- Implement internal HSBC standards while providing direction & support to the External Vendors.
- Enhance collection / recovery to help reduce / minimize credit loss.
- Act as the liaison point for Legal counsel(s) assisting debt collections.
- Manage “Risk” by way of identification & assessment and to mitigate such risk by implementing agreed strategy and by exercising good control.
- To ensure Bank’s laid down processes & polices are followed and customer fairness principles are adhered to all the time.
- Drive performance of External vendors matched against expected delinquency, Monthly Recovery Rate Flow Rate & Loss rate.

**Principal Responsibilities**

**Principal Accountabilities: Key activities and decision-making areas**

**Impact on the Business / Function**
- Maximize collections of debts & to monitor delinquent portfolio
- Set monthly / quarterly targets for the DCA in line with business requirement.
- External Debt Collection Agencies (DCA’s) are motivated to achieve the set targets in terms of MRR, GCL & Provision releases & saves while remaining aligned to our operating principles.
- Identifying accounts and initiating legal action under SARFAESI/CIVIL/DRT.
- Implement internal defined standards to help mitigate conduct and reputation related risks.
- To extend support to External Debt Collection Agencies (DCA’s) in helping them imbibe and follow HSBC’s Customer Fairness Principles.
- Participate and lead negotiations with customers on a need basis.
- Conduct audit checks and provide timely, formal feedback to DCAs.

**Customers / Stakeholders**
- To ensure all customer complaints are documented and resolved within a defined TAT.
- To ensure all customers are treated fairly as per Customer Fairness. Principles & deviation noted to be escalated.

**Leadership & Teamwork**
- Highlight performance / nonperformance & non-adherence of process & policies if any and guide DCA(s) towards continued improvement

**Operational Effectiveness & Control**
- Maintain and observe HSBC internal control standards, implement, and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
- To ensure all the Information Security Risk (ISR) guidelines are adhered by the DCA.
- Run business in accordance with all guidelines and instructions (internal & regulatory)
- Achieve satisfactory audit ratings with neither any major repeat recommendations nor any adverse findings from external auditors or any compliance review.
- Respond all customer service escalations within 24 hours of notice and escalate the same to Customer Complaints team and ensure Upheld complaints don’t exceed the agreed threshold.
- Analyze the portfolio and provide feedback to the risk department in terms of fraud accounts
- regularly monitor Service Providers’ service levels and costs by maintaining and regularly updating a management information system (MIS)
- handle day-to-day concerns and complaints, escalating issues to line manager.
- check accuracy of billings (sign off on the billings) before obtaining approval for payment
- review contract provisions and ensure that these are still relevant
- perform at least an annual risk evaluation and mitigation analysis with regard to the outsourced activity. Conduct an annual review of the Service Providers’ financial capacity to support the outsourced activity (leverage and gearing ratios, net worth or capital, operating cash flows or liquidity) and file these reviews together with the financial statements
- Perform all First LoD activities on timely bas



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