Collections

By design, Groww lending products will be fully digital and hence collection capabilities will also need to be more aligned to digital collections & outsourced tele-collections. Secondary and mínimal outsourced field collections via agencies is the strategy.
- Not more than 5 to 10 years experience, biased towards tele-collections and unsecured collections, with high digital acumen and agency-management skills
- Help build out policies as well as systems’ design for data flow from LMS to agency and back.
- POSITION - Head Collection
- To lead collections and work closely with the lending team, to optimise collections and recoveries. support team in the development, oversight, performance monitoring and evaluation of all appropriate collections policies, strategies related to collections from delinquent accounts and other applicable operational areas. To develop policies and analytics to form a complete view of the exposure, limits, risks, etc., to ensure that a strong follow up mechanism is built in the system for highlighting adverse payment/ default cases and to ensure the overdue are collected before the delinquency ages to deeper collection buckets / becomes NPA._

**RESPONSIBILITIES**
- Develop, implement and ensure compliance with collections processes, with the objective of delivering superior financial performance while minimizing potential losses
- Constantly keep track of market trends including competitor, regulations; modify collections and fraud monitoring processes on the basis of these trends
- Review, maintain control and minimize the cost incurred on sampling and investigation of the files in each of the product lines
- Plan and implement periodic audits to ensure that all processes carried out at the regions adhere to the standard operating procedures
- Develop strong credit recovery mechanisms to improve avoidance and recovery of default loans
- Work with lending team to assess risks associated with new or enhanced products and enhance the outsourced team’s ability to identify measure and monitor credit risk
- Set up processes, reviews and monitoring policies for indicating early warning signals on credit quality and defaults
- Engage with various external legal resources and agencies for instituting credit recovery mechanism (this is not immediate, as for first 12 to 18 months it is going to be unsecured lending book)
- Work with internal and external auditors and regulators regarding credit risk-related matter and specifically on collections related issues, especially on matters associated with outsourced agencies
- Develop a robust MIS system and related processes to automate and manage collection activities
- Identify and resolve operational issues related to customers, vendors (external as well as internal) with the objective of reducing billing TAT and improving forecasts
- Provide regular inputs to, Risk, FCU & Policy Team on Geo Limits, Negative Areas, Negative Profile, Non-Starters, SKIPs, Fraud Cases and other collections risk aspects, based on market intelligence
- Continuously improve collections practices by identifying new ideas and methods, and by benchmarking against best practices and industry standards
- Logically conclude all pre and post investigations with the root cause identification, remedial action and onward recommendations to contain recurrence.
- Review and ensure adherence to TAT guidelines for all collections processes
- Drive the design, implementation and optimization of the Flows management framework across the unit(s)
- Oversee the design and implementation of a segmented approach across the product suite to ensure effective management based on the type of product and customer
- Design and implement the fraud control framework across a national level in an effective manner including the set up and deployment of
- Ensure effective monitoring and resolution of standard cases and ensure mínimal movement to sub-standard bucket
- Oversee the management of provisions through effective resolution of delinquent cases
- Ensure effective management of the Tele-calling centers and ensure timely resolution of cases
- Undertake and oversee the identification, monitoring and management of collection agencies for unsecured loans (first 12 to 18 months) and for subsequent product builds.
- Drive the design, implementation and optimization of the fraud management framework to ensure preemptive and post fraud management (including investigations) in an effective manner
- Design and implement the fraud control framework across a national level in an effective manner including the set up and deployment of an efficient debt management framework across the product suite
- Ensure effective transaction level monitoring and management including coordination with various bureaus
- Oversee the management of the entire screening, sampling and investigation of cases
- Oversee the design of stressed asset management strategies and ensure effective implementation of the same
- As