Bad Debt Recovery Executive

The Bad Debt Recovery Executive is responsible for contacting individuals or businesses with outstanding debts, negotiating repayment terms, and ensuring the recovery of delinquent amounts. This role involves identifying overdue accounts, strategizing recovery plans, and maintaining accurate records of all communication and payment transactions.

**Key Responsibilities**:

- **Debt Collection**:

- Negotiate repayment plans, settlements, or other financial arrangements to recover unpaid debts.
- Follow up on agreed payment plans to ensure they are being honored and proactively address any missed payments.
- **Account Analysis**:

- Review and analyze customer accounts to identify overdue debts, aging reports, and categorize accounts for recovery action.
- Investigate reasons behind non-payment, assess financial situations of debtors, and recommend appropriate action plans.
- **Client Communication**:

- Maintain regular contact with customers to facilitate the recovery process, ensuring professional and respectful communication at all times.
- Provide explanations to clients regarding the outstanding amounts and the repercussions of non-payment, including potential legal actions.
- **Record Keeping & Reporting**:

- Prepare reports on recovery performance, providing insights on success rates, recovery amounts, and client feedback.
- Ensure compliance with legal regulations and internal company policies regarding debt recovery.
- **Coordination with Legal Teams**:

- Collaborate with the legal department when necessary to initiate legal proceedings for debt recovery.
- Assist in preparing documentation for court cases related to bad debts, including records of communication and agreements.
- **Risk Management**:

- Evaluate the likelihood of successful recovery and escalate cases for legal action when debt recovery through negotiations is unlikely.
- Assess creditworthiness of clients for potential settlements, payment plans, or restructuring agreements.
- **Customer Support**:

- Provide information and support to customers in cases where they may face financial difficulties, helping them to find solutions within the framework of company policies.
- Build and maintain a professional relationship with clients to encourage prompt repayment and avoid future delinquencies.
- **Compliance**:

- Ensure all debt recovery activities comply with industry regulations, financial laws, and the company’s code of conduct.
- Stay updated on changes in recovery laws, regulations, and best practices in debt recovery management.
- **Target Achievement**:

- Work towards achieving recovery targets set by the management.
- Develop and implement strategies to maximize the recovery of bad debts while minimizing losses.

**Skills and Qualifications**:

- High school diploma or bachelor's degree in finance, accounting, or a related field.
- Proven experience in debt recovery, collections, or related roles.
- Strong negotiation and conflict resolution skills.
- Excellent communication skills, both written and verbal.
- High attention to detail and strong organizational abilities.
- Ability to handle stressful situations and remain professional under pressure.
- Familiarity with debt recovery laws and regulations.
- Proficiency in relevant software systems for tracking debts and payments.
- Customer-centric approach and strong interpersonal skills.

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

Pay: ₹16,000.00 - ₹18,000.00 per month

**Benefits**:

- Health insurance
- Leave encashment
- Paid time off
- Provident Fund

Schedule:

- Day shift
- Rotational shift

Work Location: On the road