Collection Officer

6 hours ago

Vasanth Nagar Bengaluru Karnataka, India iappsdata Full time

**Position Title**: Collection Officer
**Department**: Collections
**Reports To**: Collection Manager/Regional Manager
**Location**: [Specify Location]
**Employment Type**: Full-Time

**Role Summary**:
The Collection Officer will be responsible for ensuring timely collection of dues from customers in accordance with the policies and standards of the Non-Banking Financial Company (NBFC). The role involves visiting customers, negotiating repayment terms, and maintaining accurate records of collection activities while adhering to ethical and legal guidelines.

**Key Responsibilities**:

- **Customer Follow-Up**:

- Send reminders and follow up on repayment commitments.
- **Field Collections**:

- Conduct door-to-door visits to customers’ premises for overdue loan recovery.
- Provide customers with detailed account statements or explanations about their dues.
- **Negotiation and Resolutions**:

- Discuss repayment challenges with customers and offer feasible repayment options.
- Negotiate settlements or restructuring plans when necessary, following company policies.
- **Compliance and Documentation**:

- Ensure all collection activities are in compliance with company policies, legal guidelines, and RBI regulations.
- Maintain accurate and updated records of all communications, payments, and customer interactions in the system.
- **Risk Mitigation**:

- Identify high-risk accounts and escalate complex cases to senior management for further action.
- Assist in the preparation of legal cases for chronic defaulters, if required.
- **Team Collaboration**:

- Work closely with the credit and operations teams to resolve customer issues.
- Share insights and feedback on customer behavior to improve credit policies and processes.

**Key Skills and Competencies**:

- **Interpersonal Skills**: Strong communication and negotiation abilities to handle diverse customers.
- **Analytical Skills**: Ability to analyze payment trends and identify risk patterns.
- **Customer Service**: Maintain a customer-centric approach while ensuring timely recovery.
- **Resilience**: Ability to handle challenging situations and high-pressure environments.
- **Tech-Savviness**: Familiarity with collection management systems and basic MS Office tools.

**Qualifications and Experience**:

- **Education**: Bachelor’s degree in Commerce, Business Administration, or a related field.
- **Experience**: 1-3 years of experience in collections, preferably in an NBFC, bank, or financial institution.
- **Other Requirements**:

- Valid driver’s license (for field collections).
- Knowledge of local languages and geography is preferred.

**Key Performance Indicators (KPIs)**:

- Monthly collection targets achieved.
- Reduction in delinquency rates.
- Timeliness of reporting and updates.
- Customer satisfaction and resolution efficiency.

**Additional Notes**:

- Willingness to travel extensively for field visits is essential for this role.

**Job Types**: Full-time, Permanent

Pay: ₹300,000.00 - ₹400,000.00 per year

**Benefits**:

- Health insurance
- Provident Fund

Schedule:

- Day shift
- Monday to Friday
- Morning shift

Supplemental Pay:

- Commission pay
- Performance bonus
- Yearly bonus

**Education**:

- Bachelor's (preferred)

**Experience**:

- 4year: 1 year (preferred)

Work Location: In person

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