Officer-Collections Retail

Ujjivan Small Finance Bank Ltd.; Panvel; On-site; INR 300,000 - 480,000; Full time

Job summary

Ujjivan Small Finance Bank Ltd. is hiring for an Officer-Collections Retail to manage recovery of overdue amounts. Based at Branch/Cluster, you will follow up with default customers, adopt various strategies for recovery, and ensure fair treatment during collections.

The role reports to the Cluster Collections Manager and requires 12th Pass/Graduate with relevant experience. You will coordinate with internal teams, handle legal actions when needed, and strive to meet monthly collection targets

Qualifications

• Experience in collections, risk controls or related fields is preferred.
• Ability to follow up with default customers and recover amounts.
• Understanding of legal processes related to recovery when needed.

Responsibilities

• Follow up with customers to collect repayments.
• Convince customers to repay, take PTPs and follow up.
• Update repayment status in the cluster system and MIS.
• Provide receipts and deposit collected amounts with cashier.
• Communicate consequences of non-payment to customers.
• Trace absconded customers and initiate recovery; initiate legal processes when needed.
• Ensure monthly collection targets are met and support FTOD collection.

Skills

Strong communication

Local language fluency

Negotiation

Time management

Education

12th Pass/ Graduate in a related field

Job description

Job Description:

JOB TITLE : Officer-Collections Retail

GRADE : DM-I

DEPARTMENT : Collections Retail

LOCATION : Branch/Cluster

SUB-DEPARTMENT : NA

TYPE OF POSITION : Full-time

REPORTS TO : Cluster Collections Manager

REPORTING INTO : NA

ROLE PURPOSE & OBJECTIVE

• This role is responsible to follow-up with Default customer for Recovery of over-due amount as per the Allocation
• For any unresolved cases, the incumbent needs to decide on the most value-added mode of follow-up; adopt different strategies for the collection at different point of time; work on having the customers being treated well during the Overdue Follow up; Motivate the customers to make on time Repayment; Trace out the absconded default customers and initiate recovery process

KEY DUTIES & RESPONSIBILITIES OF THE ROLE

• Follow up with the customers to collect the repayment from the customer
• Convince the customers to make the repayment, take PTP’s and follow up
• Update the status of the repayment to cluster.
• Update the details of the interaction with the customer in the collection system.
• Issue the Receipt to the customer and deposit the amount with the Cashier
• Communicate the customers about the consequences of non-payment
• Trace out of absconded default customers and initiate recovery process
• Initiate the Legal process in case of Non-Repayment based on the Document available with the organization
• Manage collection process and legal guidelines; Initiate the process of reporting full details about non-payment customers for action plan and maintain the Monthly Collection Target is met
• Ensure that the Monthly individual collection target is met
• Help distribution team in FTOD collection and working for preventive collection of cases.

Customer

• Interact with the customers politely, Convince the customer to make the repayment
• Maintain fair collection practices while dealing with customers
• One should contact people other than the customers only to locate the borrower
• Communicate the Consequences thoroughly to the customers about the Non-payment
• Issue the notices to the customers at different stages with details of further course of action
• Understand the customers situation and adopt various strategies for collection
• Customers should be treated with respect and no false, deceptive, or misleading claims should be made for the purpose of collecting repayments. This includes misrepresenting his/ her identity or falsifying facts about debt status or consequences of non-repayment or claiming any monetary or non-monetary awards post tracing of the customer.

Internal process

• Ensure that collection process and legal guidelines to be adhered
• Complete administrative work related to collection such as updating delinquent account history, updating change of customers' information, providing and maintaining MIS report, reviewing of collection feedback on Daily, Weekly & Monthly basis, etc.
• Review the Cases with Cluster Manager before taking further course of action
• Report any fraud identified in the field to Vigilance
• Interact with different teams at appropriate verticals and if required engage them for collections.

Learning & Performance

• Ensure that you are up to date on all relevant circulars and all products/services offered in the Branches.
• Ensure adherence to training man-days/ mandatory training programs for self
• Ensure goal-setting, mid-year review and annual appraisal process within specified timelines for self.
• Ensure coordination between different teams, to build a collaborative spirit and shared sense of purpose.

MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

• 12 th Pass/ Graduate in a related field

Qualifications

• 12 th Pass/ Graduate in a related field

Experience

• 2 years of experience for 12th Pass candidate and/or 1 yr of experience for a graduate in relevant areas of collections, risk controls

Certifications

• DRA Certification

Functional Skills

• Fluent in Communication in the local language
• Understanding of the documents of the Secured Loans
• Knowledge of various strategies that can be adopted for recovery of secured loan – Legal etc.
• Has to have tenacity in meeting targets.
• Take responsibility of effectiveness and timely completion of work.
• Planning, organizing and time management skill. Should have the ability to prioritize.

Behavioral Skills

• Good Convincing skills which can be adopted during the collection.
• Strong communication skills with the ability to communicate directly with field staff & customers.
• Local language skills will be preferred

KEY INTERACTIONS

• INTERNAL
  • Vigilance officers
  • Customers and Family Members
  • Tele Callers and Back End Collection Manger
  • Police Personnel
  • Branch Head, Loan Officer
  • Vendors
  • Legal Manager
  • Vigilance officers
• EXTERNAL
  • Vigilance officers
  • Customers and Family Members
  • Tele Callers and Back End Collection Manger
  • Police Personnel
  • Branch Head, Loan Officer
  • Vendors
  • Legal Manager
  • Vigilance officers

PREPARED BY: Shibu Baby

DATE: 05-02-2024

REVIEWED BY

DATE

LAST UPDATED BY: TM Team

DATE: 13-02-2024

Requirements: