Recovery Officer

2 months ago

Ranchi, India Capitallinks Full time
OverviewAs a RecoveryOfficer you will play a crucial role in the organizations effortsto recover overdue payments from clients and customers. You will beresponsible for working with clients to establish payment plansnegotiating settlements and taking appropriate actions to ensurethe recovery of funds. Your role is essential for maintaining thefinancial health of the organization and minimizing bad debtlosses.Keyresponsibilities
  • Identify and contactclients with overdue payments to negotiate paymentplans.
  • Develop and maintain effectivestrategies for recovering funds from delinquentaccounts.
  • Initiate legal actions such as filinglawsuits or liens when necessary to recover outstandingdebts.
  • Review and analyze customer financialsituations to assess the risk and determine the best course ofaction for debt recovery.
  • Provide regularupdates on the status of overdue accounts and progress in therecovery process to management.
  • Work closelywith legal and compliance teams to ensure all debt recovery actionscomply with relevant laws andregulations.
  • Utilize various communicationchannels to reach out to clients and customers including phonecalls emails and letters.
  • Investigate andresolve any disputes or discrepancies related to overduepayments.
  • Collaborate with internal departmentssuch as finance and sales to reconcile payment discrepancies andresolve outstanding issues.
  • Maintain accurateand updated records of all communication and actions takenregarding debt recovery.
  • Monitor and assess theeffectiveness of debt recovery strategies and recommendimprovements as needed.
  • Provide exceptionalcustomer service while managing challenging and sensitivesituations related to debt recovery.
  • Stayinformed about industry best practices and trends in debtcollection and recovery.
  • Conduct regularreviews of the organizations debt recovery policies and proceduresto ensure compliance andefficiency.
Requiredqualifications
  • Bachelors degree inBusiness Administration Finance or a relatedfield.
  • Proven experience in debt collectionrecovery or financial services.
  • Strongunderstanding of legal and regulatory requirements related to debtrecovery.
  • Excellent negotiation skills and theability to reach mutually beneficial agreements withclients.
  • Exceptional communication skills bothverbal and written with the ability to convey complex financialinformation clearly.
  • Highly analytical with theability to assess financial risk and evaluate paymentsolutions.
  • Detailoriented with a focus onaccuracy and precision in maintaining records anddocumentation.
  • Ability to handle difficultconversations and manage conflicts professionally andeffectively.
  • Proficient in using debt recoverysoftware and Microsoft Officeapplications.
  • Knowledge of risk managementprinciples and practices related to debtrecovery.
  • Demonstrated customer serviceexperience with a commitment to delivering positive outcomes forboth the organization and clients.
  • Proactiveand resultoriented with the ability to multitask and prioritizetasks effectively in a fastpacedenvironment.
  • Familiarity with credit reportingagencies and their processes is anadvantage.
  • Certification in Debt Collection andRecovery is a plus.
  • Ability to maintainconfidentiality and handle sensitive financial information withdiscretion andintegrity.

negotiation,communication,analyticalskills,risk management,customer service,debtcollection

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