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Drive Business Growth through Effective Loan Collections
3 weeks ago
The Business Loan Collections Manager is responsible for developing and implementing comprehensive collection strategies to achieve recovery targets.
Key Responsibilities:
- Develop strategic plans to drive business loan collections and enhance revenue growth
- Lead, mentor, and motivate a team of collection officers to foster a high-performance culture and promote collaboration
- Oversee daily collection activities, including portfolio allocation, call management, and field visits to ensure timely recoveries
- Ensure all collection activities comply with legal and regulatory guidelines
- Monitor and analyze collection data and metrics to identify trends and adjust strategies accordingly to maximize results
- Collaborate with internal teams to resolve complex collection cases and build strong relationships with clients to negotiate effective repayment plans
- Evaluate and improve collection processes, systems, and tools to enhance efficiency and effectiveness
- Proactively identify and mitigate risks associated with delinquent accounts and develop mitigation strategies
Requirements:
- Bachelor's degree in Finance, Business Administration, Commerce, or a related field with a strong focus on finance and accounting
- A minimum of 6+ years of progressive experience in business loan collections, with significant time in a managerial or leadership role within a financial institution
Desirable Skills:
- Strong analytical and problem-solving abilities with a data-driven approach and proficiency in using statistical analysis tools
- Excellent communication, negotiation, and interpersonal skills with the ability to work effectively with diverse stakeholders
- Proficient in using collection management software, CRM systems, and Microsoft Office Suite (especially Excel) with expertise in data analysis and visualization
Additional Information:
- Must have knowledge of the business loan collection process, regulatory guidelines, and legal frameworks specific to the NBFC sector
- Ability to work independently and collaboratively as part of a team to achieve common goals