Collection Executive

A Collection Officer in an NBFC Non-Banking Financial Company is responsible for managing the recovery of overdue payments from borrowers This involves contacting debtors negotiating payment plans and ensuring timely repayment while adhering to company policies and legal guidelines Key Responsibilities Debt Collection Contacting customers with overdue payments to negotiate repayment plans and collect outstanding debts Payment Negotiation Working with debtors to establish realistic and sustainable payment arrangements Account Review Analyzing debtor accounts to assess financial situations and payment history Communication Maintaining regular communication with debtors through various channels Documentation Maintaining accurate records of all collection activities and debtor interactions Compliance Ensuring all collection activities adhere to company policies and legal regulations Reporting Preparing and submitting regular reports on collection activities and performance Field Visits In some cases conducting field visits to meet with customers and assess their situations Legal Recourse Initiating legal action when necessary in coordination with the legal department Relationship Building Developing and maintaining positive relationships with clients to encourage timely payments Training May be involved in training other collection staff or agencies Skills Required Communication Skills Excellent verbal and written communication skills are essential for interacting with debtors Negotiation Skills Ability to negotiate payment plans and settlements that are beneficial to both the company and the debtor Analytical Skills Ability to analyze debtor accounts and assess financial situations Problem-Solving Skills Ability to identify and resolve issues related to debt collection Organizational Skills Ability to manage a large number of accounts and maintain accurate records Knowledge of Collection Processes Understanding of debt collection procedures relevant laws and regulations Customer Service Skills Ability to handle customer inquiries and resolve payment disputes Teamwork and Collaboration Ability to work effectively with other team members and departments Self-Motivation and Initiative Willingness to take initiative and work independently Results Orientation Focus on achieving collection targets and goals Job Type Full-time Pay 15 000 00 - 20 000 00 per month Benefits Health insurance Paid time off Provident Fund Work Location In person