Area Collection Manager - Bad Debt Collections

Mahindra Finance; Nawada; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Mahindra Finance is seeking an experienced professional to lead strategy formulation and implementation for its collections function. The role focuses on achieving collection efficiency, managing reversals, and keeping the team motivated.

You will monitor field performance, drive debt recovery, and ensure portfolio quality while minimizing losses through timely repossession and effective processes. Strong leadership and cross-functional coordination are essential to success.

Responsibilities

• Strategy formulation and implementation: To achieve goals set by organization in terms of collection efficiency, provision reversals, etc.
• Budget & Profitability: To monitor, drive and review the field force towards achieving the budgeted recovery; ensure effective recovery of debt and NPA management.
• Product & Process related: To understand reports and review team basis of reports and data; identifying factors which can improve collection output; devise and develop process & procedures aimed at reducing cost of collections; ensure audit compliance and rating parameters are met.
• HR & People management: Provide guidance to teams to maintain an environment that encourages participation, teamwork; provide training support and content for functional and behavioural training of vertical field executives and managers for their development and retention; improving engagement of department.
• Customer related: Addressing customer concerns, pertaining to collections

Job description

Duties & Responsibilities ( List in the order of importance the duties & responsibilities of this job)

1. Strategy formulation and implementation:

• To achieve goals set by organization in terms of collection efficiency, provision reversals, etc
• To keep the team motivated at all times
• To develop liaison with alternative channels Authorities, Influential Personalities, Prominent Lawyers etc. so as to be able to handle contingencies and facilitate efficacious functioning of the recovery department , in line with companys rules and regulations
• Maintain an effective review mechanism to monitor results
• Educating executives on increasing collection effectiveness through field collection,repossessions,guarantors etc.
• Ensuring and leveraging productivity of executives right from inception

2. Budget & Profitability:

• To monitor , drive and review the field force towards achieving the budgeted recovery
• Ensure effective recovery of debt and NPA management
• Drive Profitability & Ensure Portfolio Quality Maintenance
• Timely repossession to ensure minimal disposal losses, as per management norms

3. Product & Process related:

• To understand reports and review team basis of reports and data
• Identifying factors which can improve collection output
• Identify non-performers and report to Divisional Head
• Devise and develop process & procedures aimed at reducing cost of collections
• Ensure audit compliance and rating parameters are met

4. HR & People management:

• Provide guidance to teams to maintain an environment that encourages participation, teamwork
• Provide training support and content for functional and behavioural training of vertical field executives and managers for their development and retention
• Improving engagement of department
• To co-ordinate with the Accounts, Legal, Operations, H.R. and all other Functions for inputs and related functional support

5. Customer related:

Addressing customer concerns, pertaining to collections