Collection Executive

3 days ago


Bharuch, India Khushbu Auto Finance Limited Full time

A collection officer's primary responsibility is to manage and recover outstanding debts for a company or organization. This involves contacting debtors, negotiating payment plans, and taking necessary legal action to recover the debt while adhering to legal and ethical guidelines. Key Responsibilities:

- **Account Management**:Maintaining accurate records of all collection activities, including payment plans, amounts paid, and communication logs.
- **Negotiation and Problem-Solving**:Working with debtors to find mutually agreeable solutions for repayment, addressing any concerns or disputes, and potentially negotiating settlements.
- **Legal Compliance**:Ensuring all debt collection activities are conducted within legal and ethical boundaries, including adhering to relevant regulations like the Fair Debt Collection Practices Act (FDCPA).
- **Collaboration**:Working with other departments like legal, customer service, and sales to resolve complex issues and improve collection processes.
- **Reporting and Analysis**:Tracking and reporting on collection efforts, analyzing data to identify trends and areas for improvement, and providing regular updates to management.
- **Process Improvement**:Identifying opportunities to enhance collection strategies and workflows, potentially leveraging new technologies and tools to improve efficiency and recovery rates.
- **Customer Service**:Maintaining a professional and respectful demeanor when interacting with debtors, even in challenging situations, to preserve the company's reputation and potentially salvage customer relationships.
- **Legal Action (if needed)**:Initiating legal proceedings, such as repossession or legal action, when other collection efforts fail, requiring collaboration with legal counsel.

Skills and Qualifications:

- **Communication and Negotiation Skills**:Effective communication is crucial for interacting with debtors, explaining payment options, and negotiating mutually agreeable solutions.
- **Problem-Solving Skills**:The ability to analyze account information, identify the root causes of non-payment, and develop creative solutions for repayment is essential.
- **Organizational Skills**:Managing a high volume of accounts, tracking communication, and maintaining accurate records requires strong organizational skills.
- **Legal Knowledge**:Understanding relevant laws and regulations related to debt collection, such as the FDCPA, is crucial for ensuring compliance.
- **Empathy and Professionalism**:Maintaining a professional and respectful demeanor, even when dealing with difficult debtors, is essential for preserving the company's reputation and potentially salvaging customer relationships.
- **Knowledge of Collection Software**:Familiarity with debt collection software and other relevant tools is often required to track accounts, manage communication, and generate reports.
- **Experience**:Prior experience in collections, customer service, or a related field is often preferred.

Pay: ₹15,000.00 - ₹20,000.00 per month

**Benefits**:

- Health insurance
- Paid time off
- Provident Fund

Schedule:

- Day shift

Work Location: In person



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