Debt Manager-Flows-Suvidha LAP

IDFC FIRST Bank; Hyderabad; On-site; INR 600,000 - 900,000; Full time

Job summary

IDFC FIRST Bank is seeking a focused individual for the Collections Department role, tasked with optimizing the efficiency of EMI recovery while overseeing agency activities in Hyderabad.

The ideal candidate will contribute to higher organizational objectives by managing collections effectively, ensuring legal compliance, and maintaining accurate administrative data. A minimum of 2 years' experience in collections is required along with strong communication and problem-solving skills.

Qualifications

• Minimum of 2 years of experience in collections.
• Strong understanding of debt collection processes and legal guidelines.

Responsibilities

• Manage and undertake the collections process for assigned debts.
• Monitor and control delinquency in the area.
• Ensure adherence to collection processes and legal guidelines.
• Maintain administrative data related to collections.

Skills

Debt collection processes

Team management

MIS reporting

Effective communication

Problem-solving

Education

Graduation: Any Graduate

Job description

Job Requirements

About the Role

The role bearer is responsible for planning, organizing, directing, and overseeing the activities of the collections department. This includes managing the agencies associated with the company in their assigned territory. The role focuses on optimizing the efficiency of EMI recovery from customers while ensuring adherence to all bank guidelines. The position contributes to the broader organizational objectives of the bank.

Key Responsibilities

Primary Responsibilities

• Manage and undertake the collections process for assigned debts.
• Regularly track the portfolio for specific buckets in the assigned area.
• Monitor and control delinquency in the area, bucket-wise and DPD-wise, with a focus on non-starters.
• Allocate and achieve collection targets through agencies and in-house teams.
• Follow up regularly with defaulting customers.
• Ensure adherence to the collection process and legal guidelines.
• Trace absconded default customers and initiate recovery procedures.
• Recommend legal actions for non-recoverable cases and follow up with the legal team for case closures.
• Maintain administrative data related to collections, including delinquent account history, MIS reports, and feedback reviews on a daily, weekly, and monthly basis.

Secondary Responsibilities

• Recommend process changes to improve service efficiency and quality.
• Suggest improvements to processes and policies across the Retail Banking business to enhance operational efficiency and customer service.
• Leverage internal synergies through collaboration with stakeholders.

What We Are Looking For

Education

• Graduation: Any Graduate

Experience

• Minimum of 2 years of experience in collections.

Skills and Attributes

• Strong understanding of debt collection processes and legal guidelines.
• Ability to manage teams and coordinate with external agencies.
• Proficiency in maintaining and analyzing MIS reports.
• Effective communication and negotiation skills.
• Problem-solving abilities and strategic thinking.