Insurance Collection Executive

**Job Title**: Collection Executive - Automobile

**Location**: Salem

**Department**: Collections/Recovery

**Reports To**: Collection Manager / Team Leader

**Job Summary**:
The Collection Executive - Automobile will be responsible for managing and recovering overdue payments related to automobile loans, financing, or leases. The role involves direct interaction with customers to ensure timely payments, addressing customer queries, and facilitating the resolution of payment issues. You will also maintain accurate records and collaborate with other departments to ensure compliance with the company’s financial policies and regulations.

**Key Responsibilities**:

- **Debt Recovery**:

- Follow up on overdue payments from customers in relation to automobile financing or leasing agreements.
- Negotiate with customers to resolve payment issues, offering flexible payment plans, if needed.
- Ensure that collection targets and timelines are met consistently.
- **Customer Interaction**:

- Handle customer complaints and disputes regarding payments, working to resolve issues while maintaining a positive customer experience.
- Maintain professional and courteous relationships with customers during the collection process.
- **Record Keeping & Reporting**:

- Maintain accurate and up-to-date records of all customer interactions, payment arrangements, and collections progress.
- Prepare daily, weekly, and monthly reports on collections status, identifying trends and potential areas of concern.
- Ensure all collections activities are compliant with internal policies, legal regulations, and best practices.
- **Field Collections (If applicable)**:

- Conduct field visits to customers for follow-up on payment collections, as needed.
- Work with repossession teams if payments are not received after multiple attempts.
- **Documentation and Legal Compliance**:

- Ensure all collection activities adhere to company policies and local financial regulations.
- Maintain proper documentation for legal purposes in case of escalated collections requiring legal action or repossession.
- **Collaboration**:

- Work closely with the Sales, Customer Service, and Finance teams to identify and address any issues affecting payment collections.
- Participate in team meetings to discuss collection strategies and improvements.

**Key Skills and Qualifications**:

- **Education**:

- Bachelor’s degree in Business Administration, Finance, or a related field (preferred).
- Additional qualifications in finance or collections management will be an advantage.
- **Experience**:

- Minimum of 1-3 years of experience in collections or recovery, preferably in the automobile financing or leasing industry.
- Experience in customer service, negotiation, and debt recovery is a plus.
- **Skills**:

- Strong communication skills (both verbal and written).
- Excellent negotiation and problem-solving skills.
- Ability to work under pressure and meet deadlines.
- Detail-oriented with excellent organizational skills.
- Knowledge of collections laws, regulations, and industry practices.
- **Technical Proficiency**:

- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint).
- Familiarity with collections management software or CRM tools is preferred.
- **Other**:

- Ability to work independently as well as part of a team.
- Willingness to travel for field collections (if applicable).

**Key Performance Indicators (KPIs)**:

- Successful recovery rate (percentage of overdue debts collected).
- Number of accounts successfully brought back to current status.
- Customer satisfaction during the collections process.
- Adherence to company policies and legal requirements.

**Working Conditions**:

- Standard office hours with flexibility for overtime when necessary.
- Occasional travel for field visits (if applicable).
- Professional working environment.

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

Pay: ₹10,000.00 - ₹15,000.00 per month

**Benefits**:

- Cell phone reimbursement
- Health insurance
- Provident Fund

Schedule:

- Day shift

Supplemental Pay:

- Performance bonus
- Yearly bonus

Work Location: In person